What can we learn from Japan's economic resurgence?

World's third largest economy has recorded its longest period of expansion in more than a decade

Japan Prime-Minister Shinzo Abe
(Image credit: Kazuhiro Nogi/Getty Images)

For years, Japan was a symbol of how not to manage macroeconomics. As the "lost decade" of growth became two lost decades and the promised radical reforms of Prime Minister Shinzo Abe – dubbed "Abenomics" – failed to bear fruit, Japan looked like a cautionary tale for advanced nations.

And that was before Abe became the subject of a corruption scandal relating to claims he used his power to help close friends.

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