Reportage author James Corbett joins Jimmy to note that Japan's economy has been in a "zombie" state since its 1990s asset bubble burst, with prices barely moving for decades until recently, and now faces a falling yen and rising inflation driven in part by the Middle East conflict and import costs. Asked about how Japan handled COVID, he explains that the country was never under a formal lockdown or mask mandate, but widespread social pressure—what he calls "horizontal tyranny"—led most people to comply with measures like masking anyway.
Corbett points out that Japan's population is shrinking, with deaths exceeding births amid a persistent low fertility rate, though he notes he doesn't have the latest data on excess deaths. He traces Japan's stagnation to structural issues, including a fragile banking system and "zombie companies" that survived on ultra-low interest rates, while also suggesting Japan's technological progress stalled relative to China's rise.
James Corbett on YouTube: https://www.youtube.com/@corbettreport
James Corbett’s website: https://reportagebook.com/
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