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