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The decades Japan spent experimenting with massive government borrowing and spending offer the world a cautionary tale.   © Illustration by Chuan Ming Ong
The Big Story

The money pushers: The world is embracing Japan-style economics

While central bankers watch for inflation, the real danger in many countries may be stagnation

MITSURU OBE, Nikkei Staff Writer | Japan

TOKYO -- Until a few days ago, Tokyo had been in the grip of a state of emergency. Throughout the period of restrictions, as always, cavernous wholesale supermarket Gyomu Super in downtown Tokyo bristled with people: Young men pile bulk frozen potatoes into their shopping carts, a bargain at 195 yen ($1.80). Frail seniors scoop up single serves of Chinese noodles or fermented natto beans at 20 cents apiece.

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