Japan’s decades post 1990 are known as ‘the lost decades’ but GDP per capita growth was comparable to that in the US and Europe. Japan never really experienced any major decline in production or anywhere near double digit unemployment.
Europe is currently progressing through a lost decade that is showing worse GDP performance for the 7 years since the financial crisis began.
Seeking Alpha describes how he eurozone is resembling Japan’s lost decades ever closer on a host of metrics, including demographics, growth, inflation, yields and debts. In some respects, the eurozone crisis actually resembles the Great Depression of the 1930s.
The Euroarea as a whole is still at about zero GDP growth since 2007. Europe would need about 15% GDP growth over the next three years to catch up to Japan’s economic performance from 1990-2000.
Europe will need more than 2.0% GDP growth for several years to catch up to Japan lost decades sometime after 2020.
More data on European Economic Performance
Here are a few more from other sources.
A longer view of Japan’s GDP 1980 to 2013