Lost Decade (Japan)

The Lost Decade is a period in Japanese history where the economy didn't grow or create any new jobs. It lasted from 1991 to 2001. In 1991, Japan had a booming economy. People were buying lots of things, and the country was getting richer. But then, things changed. Japan's stock market crashed, and the prices for houses and land dropped a lot. A lot of companies went out of business, and people lost their jobs. This caused people to stop spending so much money, which made the economy even worse. To try and fix the problem, the government cut taxes and increased spending, but it didn't work. The economy stayed stuck in a slump until 2001, when it finally started turning around. The Lost Decade caused a lot of hardship for the people of Japan, but eventually things got better.