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Tightfisted in Tokyo: Japan’s Economic Conundrum

The host of this year’s G-7 Summit, Japan – the world’s third-largest economy – is facing contraction while nothing the government has been trying has been able to bring about a turnaround. That has taken the country, with an aging population and no economic growth amid decades of deflation, from an object of envy to a country practically deserving of pity among its peers in the Group of Seven industrialized nations. “How all this pans out, I think we’re in uncharted territory,”...

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