Japan’s middle class is ‘disappearing’ as poverty rises, warns economist
2020-07-03 09:38:29 source：CNBC
July 2, 2020
As poverty rises in Japan, the country’s middle class is slowly eroding away, according to a recent report by Oxford Economics’ Shigeto Nagai.
“After the bubble burst in the 1990s, income has declined across the income percentiles, and the share of low-income households has risen as those of middle- and high-income groups shrink,” Nagai, who is head of Japan economics at the firm, wrote in the report.
The ten years starting from the early 1990s have often been referred to as Japan’s “Lost Decade.” The period was marked by economic stagnation and deflation following a boom in the prior years.
Read more: