Japan has long been one of the most powerful countries in Asia, but over the past few decades it has experienced a period of economic struggles known as "The Lost Decade". This was caused by a number of factors such as overinvestment in real estate, an aging population, and a stagnant labor market. Japan also experienced a banking crisis due to risky lending practices encouraged by government policies. In addition, there was a stock market bubble that burst and several failed stimulus packages that did not address underlying structural issues within the economy. The 2011 earthquake and tsunami further compounded Japan's woes, making recovery even harder than before. Therefore, Japan's biggest mistake was not addressing any underlying structural issues within its economy.