Leaders | Inflated hopes

Will Japan rediscover its dynamism?

Rising prices and animal spirits give it a long-awaited opportunity

People shop along the streets of Shinsaibashi in Osaka, Japan
Image: Getty Images

Global investors are giddy about Japan again. Warren Buffett made his first visit to Tokyo in more than a decade this spring; he has built up big holdings in five trading houses that offer exposure to a cross-section of Japan Inc. Last month Larry Fink, CEO of BlackRock, the world’s biggest asset manager, joined the pilgrimage to Japan’s capital. “History is repeating itself,” he told Kishida Fumio, the prime minister. He likened the moment to Japan’s “economic miracle” of the 1980s. Even disappointing GDP figures released on November 15th will not dent investors’ optimism.

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This article appeared in the Leaders section of the print edition under the headline “Inflated hopes”

Leaders November 18th 2023

From the November 18th 2023 edition

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