During the bubble economy of the late 1980s, few could have predicted the acute banking crisis and long economic malaise that have typified the past decade.
The so-called lost decade of the '90s, however, has seen Japan's outdated economic and financial systems swallow the bitter medicine of much-needed reform.
Indeed, the once untouchable Finance Ministry would never have relinquished its policy of pampering the nation's banks and other financial institutions had the crisis not occurred.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.