The history of the economic crisis of 1997–2000

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The painful transformation of Japanese society
By Christian Sautter, Le Monde diplomatique, June 1997. Japan is still paying the price for speculation during the bubble economy years. A series of economy recovery plans costing over $500 billion from 1992-95 have failed to trigger a return to growth. Conflicting signals. Crisis or mutation?
Currency Storm Rocks Japanese Economy
By Maurice Williams, The Militant, 24 November 1997. The currency typhoon rocking Southeast Asia threatens to push a teetering Japanese economy over the brink into an economic recession. The country is still recovering from its worst economic slowdown since the end of World War II and has the highest budget deficit among the so-called Group of Seven major capitalist countries.
As economic crisis spreads: U.S./IMF demand Reaganism for Japan
By Fred Goldstein, Workers World, 30 April 1998. As the Asian crisis moves to the shores of imperialist Japan, working-class organizations in all countries should pay close attention. The situation calls for preparing strong defensive measures in the event of a sharp new capitalist downturn.
Asian crisis threatens to engulf Japan
By Doug Lorimer, Green Left Weekly, 21 July 1998. The decline in the export earnings of Asian countries was a product of the very investment boom that had fuelled the so-called Asian miracle. It created overcapacity in the production of a range of the goods they produced for export.
Economists divided over prospects for Japan recovery
Asia Pulse/Nikkei, Asia Times, 11 March 1999. A group of economists agreed Monday the Japanese economy is close to bottoming out but were divided over whether it will return to a recovery track in fiscal 1999. Kobe forum sponsored by Nihon Keizai Shimbun and the Japan Center for Economic Research (JCER).
Economic white paper
Mainichi Shimbun, 17 July 1999. The Economic Planning Agency has put together the white paper on the economy for fiscal 1999. Subtitled Challenges Toward an Economic Revival, it is the 53rd white paper of the postwar era. It focuses on three main themes: economic stimulus measures implemented by the government, corporate restructuring and new approaches to managing risk.