Japanification (Economics)
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In the field of economics, Japanification is a economic term used to describe a country's economic stagnation, or the process of becoming similar to Japan's economy.
Key characteristics of Japanification
- Low growth: Japan's economy has stagnated for decades, with weak growth rates combined with low labor productivity growth.
- Deflation or low inflation
- Low interest rates
- Aging population that contributes economic stagnation.