[arunix]

What's the difference between Japan and developed?

[palsecam]

The “Lost Decades” (1990–2010), during which Japan GDP hardly grew and deflation occured: https://en.wikipedia.org/wiki/Lost_Decades

[tim333]

Prior to that they had an 'economic miracle' from WW2 till then which is probably more what people refer to. The lost decades are quite easy to understand with conventional economics - they had a property and stock bubble which got everyone left with huge debts when it collapsed.