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Once upon a time, Japan was growing at a rapid pace. It was an export powerhouse too. In the '80s, its export share crossed 10% of global exports. Now, things have changed. It has been caught in many socio-economic problems that hinder its growth. Its export engine no longer outpaces others. Its share in global exports has fallen to just 3% in 2022, even lower than it was in the 1960s! The country now runs a trade deficit.
Once upon a time, Japan was growing at a rapid pace. It was an export powerhouse too. In the '80s, its export share crossed 10% of global exports. Now, things have changed. It has been caught in many socio-economic problems that hinder its growth. Its export engine no longer outpaces others. Its share in global exports has fallen to just 3% in 2022, even lower than it was in the 1960s! The country now runs a trade deficit.