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Isn't Japan a well known case of chronic recession lasting for decades since the 90s? There are more general issues that other East Asian countries share like population decline.
And paywalls. Why.
Yes. The country grew quickly until its bubble popped, then hasn't been able to grow much since then.
You have population decline, but you also have a greater resistance to change in the workforce, zombie companies, and an IT infrastructure stuck in the 90's.
Yup! There's a funny line in Economics.
"There are 4 types of economies: Developed, Developing, Japan, and Argentina"
Argentina is a country that acts like a developed economy, but isn't. Japan is a country that acts like a developing economy, but isn't.
The BOJ is counting on low interest to force a devaluation of peoples savings to drive consumption and, given the massive amount of savings, it will take time to burn through that