Description: Even while Japan's supporters and apologists boasted of the 'miracle' economy, it was developing weaknesses and flaws which have undermined it. Growth is slowing, the labour force is aging and youngsters lack the old work ethic. Manufacturing is dwindling while inefficient services, distribution and agriculture fester. There are good companies, but many more mediocre ones, and even the best make slim profits. Meanwhile, people are tired of long work hours and little leisure, high prices for virtually everything, inadequate housing, amenities and welfare, and a quality of life that is a poor reward for their sacrifices. This adds up to a crisis for many Japanese companies, individuals and society as a whole. It is a crisis that has been spreading rapidly since the collapse of the 'bubble' of the 1980s. And there is little hope that another 'miracle' can overcome the problems and put the economy back on track. This predicament is well know to the Japanese. But it is inadequately reflected in books for foreigners. That is why Jon Woronoff has written The Japanese Economic Crisis. Again he reveals the problems and failures, the facts and realities that others still miss but are indispensable for readers who want to understand the true situation.

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