Once seen as a dynamic economic powerhouse, Japan has been, since the 1990s, mired in a lingering economic recession. This has resulted in

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Since the 1990s, Japan has faced a prolonged economic stagnation that has led to a chronic budget deficit and growing national debt, necessitating government efforts to increase revenue, such as raising the value-added tax. Additionally, the government's budget has grown at a rate faster than the national economy, and there has been a sharp decline in the level of official development assistance provided by the government.

Once Seen as a Dynamic Economic Powerhouse, Japan Has Been