The positive aspects of Japan also merit attention

When it comes to Japan, the focus is often on the negative mechanisms of its economy: Very high public debt and its banks’ very large bond portfolios, which force the Bank of Japan to keep interest rates at zero; The skewing of income distribution to the detriment of wage earners, which leads to an absurdly high level of profits and to a loss of growth. But one should not forget the positive aspects of Japan: Its high technological level; Its high-quality education system and the high skill level of its labour force; Its highly efficient industry, which generates a surplus that finances job creation in services, maintaining full employment.