Tokyo stock market Anadolu Agency/Getty Images

Los dilemas económicos de Japón

CAMBRIDGE – La economía japonesa es una mezcla paradójica de prosperidad y fracaso. Y, de una manera significativa, su prosperidad hace que sus fracasos sean difíciles de abordar.

La opulencia de Japón es palpable para cualquier persona que visite Tokio. El nivel de vida es alto, el país tuvo un ingreso per cápita en el año 2015 (en términos de paridad de poder adquisitivo) de $38.000; cifra que se cerca al promedio de $ 41.000 en Francia y Gran Bretaña. La tasa de desempleo, que está en un nivel del 3,3%, es sustancialmente inferior a la tasa estadounidense del 5% y a la de la eurozona que está en alrededor del 10%.

Sin embargo, hoy en día la economía de Japón se ha deslizado a una deflación: los precios para el consumidor en el mes de marzo se situaron en un nivel más bajo en comparación con el registrado un año atrás, y, al mismo tiempo, el PIB real está disminuyendo. A pesar de que los costos de endeudamiento se encuentran cerca de cero, el déficit fiscal se sitúa en casi el 7% del PIB, y la deuda pública supera el 230% del PIB. La población y la mano de obra están reduciéndose, lo que implica que en el futuro se tendrán ratios de endeudamiento aún más altos.

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