In 1991, Japan's "bubble" economy burst and the country was stuck in a quagmire for at least two decades. Domestically, Japan also suffered from political doldrums. Regionally, Japan was superseded by China. This book examines the attempts by political leaders and parties to address these problems but to little avail. This book argues that, with the exception of Prime Minister Koizumi Junichiro, Japan was bedeviled by a chronically weak political leadership and unstable party system which made it difficult for fundamental problems to be resolved. Japan also has an ambivalent relationship with China, the one country whose burgeoning economy can lift the Japanese economy from its stagnation. Notwithstanding the "second lost decade", there were interesting efforts by different leaders and parties to offer a way out for a Japan in distress. This book also examines the approaches they tried, and why they often failed. Japan also struggled to come to terms with a China which overtook it as...

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