2nd January 2024, 10:53 AM
In response to the edit, I wouldn't really look to sensational / clickbait news articles for economic advice...
Anyway, so the really big advantage of economic growth is essentially in reducing poverty, which is relatively common in Japan (15% of the population in 2018, according to the OECD). Despite being the 4th largest in the world, it's true that Japan's economy is relatively stagnant, and this lack of growth probably plays a role in the country's relatively high poverty rates. That being said, it's worth mentioning that the United States has traditionally had a significantly higher rate of poverty (I think around 18% in 2018) despite their economic growth (and despite their patriotism, lol), so it's not the only factor. It's sort of hard to see where Japan stands today though, since the latest data is from all the way back in 2018, before the pandemic.
In any case, I'm not really very well-versed in economics, but I would say that the article's fixation on patriotism is not really a relevant or helpful attitude. That being said, I think it has a simpler message that probably shouldn't be ignored: "Japan is praised universally around the world, but shouldn't become complacent". I think this is probably a good message - Japan shouldn't let the endless praise it receives from other countries blind it to the numerous issues it faces, domestic or otherwise. But I don't know if this is something that actually happens in practice.
Anyway, so the really big advantage of economic growth is essentially in reducing poverty, which is relatively common in Japan (15% of the population in 2018, according to the OECD). Despite being the 4th largest in the world, it's true that Japan's economy is relatively stagnant, and this lack of growth probably plays a role in the country's relatively high poverty rates. That being said, it's worth mentioning that the United States has traditionally had a significantly higher rate of poverty (I think around 18% in 2018) despite their economic growth (and despite their patriotism, lol), so it's not the only factor. It's sort of hard to see where Japan stands today though, since the latest data is from all the way back in 2018, before the pandemic.
In any case, I'm not really very well-versed in economics, but I would say that the article's fixation on patriotism is not really a relevant or helpful attitude. That being said, I think it has a simpler message that probably shouldn't be ignored: "Japan is praised universally around the world, but shouldn't become complacent". I think this is probably a good message - Japan shouldn't let the endless praise it receives from other countries blind it to the numerous issues it faces, domestic or otherwise. But I don't know if this is something that actually happens in practice.
