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Heisei Kyoho: thinking ahead: comparing the present, Heisei period with the Kyoho era almost 300 years ago may be simplistic, writes Funabashi Haruo, but it is also instructive.

Article Excerpt
DURING the Showa period (1926 11989), around the same time that Japan's period of high-speed economic growth was in full swing, the term "Shown Genroku" came into popular use based on comparisons to the Genroku era, which is considered to have been the most flamboyant part of the Edo period (16031868). The Genroku era (1688-1704) was a peaceful era marked by economic development. It was also thought to be a prime era in terms of culture.

As the Shown period ended and Japan entered the Heisei period (from 1989 onwards), the economy started to go awry. Reeling from the collapse of the bubble economy, the Japanese economy became stagnant, the financial world struggled under the weight of accumulated bad loans and deflation reduced company profits. Although there have been those who have compared the Heisei period to the Kyoho era (1716-1736) and...

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