Many economists say the Japanese economy is at a "standstill" ahead of the start of a full recovery. For some time I have used a similar expression -- but in a different context -- to describe Japan's economic condition following the "Heisei recession," which lasted from February 1991 to October 1993.
Following the end of World War II, Japan steadily expanded as an industrial society. Around 1990, however, the economy came to a standstill as the industrial society matured. The stagnation continued for more than 10 years. Since the standstill, Japan faces the prospects of emerging as a postindustrial society.
The postindustrial society is best exemplified by the United States, where two phenomena have occurred: