Time is running out for Japan's economy

Toru Hanai/Reuters Recently, Japan’s second quarter GDP growth was revised upwards, to 0.7 per cent, after four consecutive quarters of stagnation. But don’t set your hopes too high. More than three years ago, the conservative caution of Bank of Japan governor Masaaki Shirakawa faded into history as his successor, Haruhiko Kuroda, pledged to do “whatever it takes” to achieve the 2 per cent inflation target. Yet, today inflation remains close to zero and the Japanese stock market is down ...