Reflections on Japan's past

Fifty years after the devastation of World War II, Japan's remarkable long‐term, export‐driven economic success is known as the East Asian development model and East Asian economies have become the engine for the world's economic growth. Yet the collapse of Japan's 1980s over‐inflated “bubble economy” has created apathy and pessimism, says former Prime Minister Yasuhiro Nakasone. In May 1995, on the occasion of his seventy‐seventh birthday, after more than 45 years in the Diet, IIPS Chairman Nakasone reflects on Japan's modern history and issues a call for renewal in the following speech. Above all, he says, “Japan does have a few mavericks” and “people with true convictions [should] come forward . . . the Japanese are waiting for genuine leadership.”