Is North America The Next Japan?

This article looks at the Japanese economy in order to determine whether its economic slowdown is what is in store for North America. There are a couple of crucial differences between the US and Japan. Demographics matter a lot. The aging of Japan's population caused much of the growth difference between the US and Japan. Luck matters as well. Japan has an export based economy. The crisis in Asia triggered by Thailand's devaluation, hurt its exports at a bad time. That might its fiscal tightening turn out worse than otherwise.