The Recession in Japan, Part 1: Lost Decade Revisited

Revived as a U.S. ally against Communist expansion, Japan rose quickly from the ashes of World War II and within a few decades boasted the world's second-largest economy. It grew rapidly from the 1960s through the 1980s as the country became an innovative and high-volume exporter, yet unseen flaws in the system emerged that would weaken it from within. The bubble burst in 1990 and the Japanese economy has never been the same since. Editor's Note: This is part of an ongoing series on the global recession and signs indicating how and when the economic recovery will begin.