Subsequently, in 2011, Japan was hit by the Great East Japan Earthquake, which caused widespread damage to people and facilities. The situation was further exacerbated by the sharp appreciation of the yen. In sum, Japan’s economy was confronted with a series of adverse shock during these years.
3.1 Enabling environment 3.1.1 Macroeconomic Stability India’s GDP growth has been one of the highest among large economies during the last decade and half (Chart 8).