Fifteen years of deflationary conditions were a disaster for Japan. From the mid-1990s its economy shrank in cash terms, wrecking the public finances. Net government debt ballooned to more than 130 per cent of gross domestic product. Having previously dazzled its rivals during years of fast growth, Japan gradually transformed from economic exemplar to cautionary tale.
连续十五年陷入通缩对日本来说是一场灾难。从上世纪90年代中期开始，以货币计量的日本manbetx20客户端下载 持续萎缩，这让公共财政难以为继。政府净负债与国内生产总值(GDP)之比急剧膨胀至130%。日本曾在早年的快速增长期间让竞争对手惊叹不已，但现在则逐渐从manbetx20客户端下载 增长标杆转变为一个令人警醒的故事。
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