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Why Japan’s Economy Is So Fiercely Inefficient

Japan, a country renowned for its technological advancements like bullet trains and robotics, faces a paradox of modernity and tradition.

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Despite its reputation for innovation, Japan's economic growth and productivity lag behind due to persistent use of outdated technologies, such as the Hanko stamp and fax machines. This reliance on old practices hampers efficiency. The country's meticulous attention to precision and process orientation further exacerbates the issue. While the younger generation shows a willingness to embrace change and new technologies, the rigid work culture and adherence to traditional bureaucratic methods still dominate in the land of the rising sun. Efforts led by Japan's digital minister aim to modernize administrative processes, but significant challenges remain.

Vocabulary:

• Pioneering (adjective): Being the first to develop or use something.

• Productivity (noun): The efficiency of production.

• Stamp (noun): A small device used to imprint a mark on paper with ink. The Japanese use 'Hanko' to imprint their signature.

• Underneath (preposition): Below or beneath something.

• Fiercely (adverb): Very strongly or intensely.

• To grapple (verb): To struggle or fight with something.

• Parcel (noun): A package.

• Invoice (noun): A bill for goods or services.

• Floppy disk (noun): A small, flexible, magnetic storage diskette used in the 1990s.

• Pedantism (noun): Being too concerned with minor details or rules.

Source: The Wall Street Journal YouTube channel.

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