TOKYO—After nine months of a shrinking economy, Japan has dug itself into a deep hole that it might not emerge from for at least two years.
The world’s third-largest economy after the U.S. and China was smaller in real terms in the second quarter of 2020 than it was in the final quarter of 2012, when Prime Minister Shinzo Abe took office and started his pro-growth Abenomics policies.
The…