Quote:
Originally Posted by yuriandrade
Japanese people didn't got poorer compared to the international peers over those years. The only thing that happened was the end of their real estate bubble, which is a very good thing for the average person..
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Japan is a group of small islands with a hollowed-out industrial base. Certainly compared to the days of Made in Japan in the 1980s. Almost all consumer items are imported these days. Often under Japanese brands, but the items are no longer made in Japan. So the fact that Japanese nominal salaries are half of what they were 20 years ago compared to their peers in the USA, makes a difference.
And real estate prices have nothing to do with GDP. GDP is annual production, it's a flow variable. Real estate values are a stock variable. Japanese real estate was already in deep deep recession when their relative GDP peaked in the mid 90s.