Odoriba, the Japanese word for the staircase landing between floors, literally translates as “dancing place”, a word also used to indicate an economic lull. By the latter definition Japan has been dancing around in circles ever since its bubble economy collapsed in 1990.
But nearly four years into a stop-start recovery that, barring big external shocks, is likely to continue for another year at least, evidence is mounting that, after a decade-and-a-half pause for breath, Japan’s economy is at last ready to heave itself up one more flight of stairs.
