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It has been quite some time since the 1990s were first called Japan's "lost decade." But the aftereffects of the collapse of the asset-inflated bubble economy still undermines the nation's economic structure.
It is for this reason that calls have been made for structural reform. Not a day goes by without someone talking of reform and the pains it will entail.
Half a century after the end of World War II, Japan's structure is beginning to crumble. The rapid trend toward information technology since the end of the Cold War is accelerating globalization. Undoubtedly, Japan is in need of structural reform.
However, the chorus calling for reform rings hollow, because it is …