Japan's Lost Decade - An Economic Disaster [Documentary]
In the 1980s, Japan experienced a huge economic boom, becoming the second-largest economy globally. This was due to strong exports, a good workforce, and supportive government policies. However, the US pushed Japan to make its currency stronger, which led to the Japanese government lowering interest rates to support the economy. This made borrowing money very cheap, causing people to invest heavily in land and stocks, creating a massive bubble. When the government finally raised interest rates in 1990, the bubble burst, leading to a long period of economic stagnation known as the "Lost Decades." This had a big impact on society, leading to job losses, mental health issues, and a decline in birth rates, with many young people feeling hopeless about their future.
Key Vocabulary
The consequences or aftereffects of a significant unpleasant event.
Examples:
- The city experienced a devastating earthquake, and the aftermath left thousands homeless.
- In the aftermath of the severe storm, power lines were down, and roads were flooded.
- The company faced numerous lawsuits in the aftermath of the product recall.
Lacking in force, vitality, or substance; weak or feeble, often used to describe economic growth.
Examples:
- Despite efforts to stimulate the economy, growth remained anemic for several years.
- The team's anemic performance led to a disappointing loss in the championship game.
- The artist's latest work was criticized for its anemic color palette and lack of depth.
The capacity to recover quickly from difficulties; toughness.
Examples:
- Her resilience in the face of adversity was truly inspiring to everyone around her.
- The city's infrastructure showed remarkable resilience after enduring multiple natural disasters.
- Building mental resilience is crucial for navigating the challenges of a demanding career.
Spent money freely or extravagantly.
Examples:
- After receiving a bonus, she splurged on a luxurious weekend getaway.
- They splurged on a gourmet meal to celebrate their anniversary.
- He rarely buys new gadgets, but he recently splurged on the latest noise-canceling headphones.
People who regularly attend a particular event or place.
Examples:
- Concert-goers filled the arena, eagerly awaiting the band's performance.
- Museum-goers often spend hours admiring the ancient artifacts.
- Frequent movie-goers enjoy the comfortable seating and immersive sound system of the new theater.
Distributed (resources or duties) for a particular purpose.
Examples:
- The budget committee allocated funds for the new research project.
- Each team member was allocated specific tasks to ensure the project's success.
- During the emergency, supplies were carefully allocated to those most in need.
Praise and honor received for an achievement.
Examples:
- Kudos to the entire team for their outstanding work on the challenging assignment.
- The CEO gave kudos to the marketing department for their innovative campaign.
- She earned kudos from her colleagues for successfully resolving the complex technical issue.
A sudden, strong, and often unpleasant shock or surprise.
Examples:
- The unexpected news gave him a jolt, making him rethink his plans.
- A sudden jolt from the train caused passengers to grab onto their seats.
- The cold water provided a refreshing jolt after a long day in the sun.
Something that restricts or restrains, often used metaphorically to describe limitations.
Examples:
- The new policy aims to break the shackles of bureaucracy that hinder small businesses.
- He felt free after finally shedding the shackles of his past mistakes.
- Innovation can flourish when companies are freed from the shackles of outdated traditions.
Fairly large.
Examples:
- The company reported a sizable profit increase in the last quarter.
- She made a sizable donation to the local charity organization.
- A sizable crowd gathered to watch the annual parade.
A small, mischievous devil or sprite; used here to refer to the negative effects of economic problems.
Examples:
- The imps of doubt began to creep into his mind as the deadline approached.
- Even small technical glitches can act as imps, disrupting the smooth operation of a system.
- The imps of temptation whispered promises of easy gains, leading him to make a risky investment.
Greatly desired or envied.
Examples:
- The coveted award was presented to the top performer of the year.
- Many aspiring artists dream of winning the coveted Golden Brush prize.
- His collection of vintage cars includes several highly coveted models.
Very large.
Examples:
- The new skyscraper stands at a whopping 1,000 feet tall.
- He won a whopping amount of money in the lottery last week.
- The company reported a whopping 50% increase in sales this quarter.
The state of not flowing or developing, often referring to a lack of growth or activity, especially in an economy.
Examples:
- The long period of economic stagnation led to widespread unemployment.
- Creative stagnation can be a challenge for artists seeking new inspiration.
- The pond's stagnation caused an unpleasant odor and attracted mosquitoes.
To support or sustain something, often used to describe actions taken to maintain a level or position.
Examples:
- Government subsidies were used to prop up failing industries during the recession.
- He used a stack of books to prop open the heavy door.
- The company's innovative marketing strategy helped to prop up its declining sales figures.
Made less strict or rigid; relaxed.
Examples:
- The government gradually loosened restrictions on international travel.
- She loosened her grip on the rope, allowing it to slide through her hands.
- After a long day, he loosened his tie and unbuttoned his collar.
Making a loud, harsh, piercing sound; often used to describe a sudden, abrupt halt.
Examples:
- The car came to a screeching halt just inches from the pedestrian.
- The old gate opened with a screeching sound that echoed through the quiet neighborhood.
- The brakes made a loud screeching noise as the bus stopped suddenly.
Full of energy, excitement, and cheerfulness.
Examples:
- The crowd gave an exuberant cheer when their team scored the winning goal.
- Her exuberant personality always brought joy to those around her.
- The garden was filled with exuberant blooms of various colors.
Attractively striking or showy, especially in a superficial or ostentatious way.
Examples:
- He drove a flashy sports car that turned heads wherever he went.
- The new restaurant had a flashy interior design, but the food was mediocre.
- She preferred classic styles over anything too flashy or attention-grabbing.
Pushed gently; encouraged or prompted subtly.
Examples:
- The coach nudged the player to take a more aggressive approach in the game.
- She nudged her friend to remind him of the upcoming deadline.
- A gentle breeze nudged the leaves, causing them to rustle softly.