If you exclude the cosseted army of public sector workers, the rate approaches 15 . Youth unemployment, including the female population, averages 23 , while in deprived suburbs with concentrated immigrant populations, the rate hits 70 .

Japanese authorities will also need to launch bold liberalizing reforms to unshackle the many areas of the economy that are shielded from competition. These reforms must aim to boost greater workforce participation by women induce corporations to invest more at home and increase competition in cosseted sectors of the economy.