Does Japan’s Reiwa era promise a new economic dawn even as China rises?

On May 1, Japan will restart its clock, drawing the curtain on the Heisei era of Emperor Akihito and waking to a new – and hopefully brighter – Reiwa era of 59-year-old Emperor Naruhito. For many Japanese, this is perhaps not a moment too soon. For a couple of years, Japan’s economists have been talking up the “true dawn” unfolding in the country, as they try to put behind them the disaster, drift and global decline of three decades of Heisei.Most of their tentative optimism has arisen from…

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