Better is, if you want an economy to grow, you have to expand its production capacities, i.e. capital. this is done via a savings rate and not via credit-financed government spending programs. the approach that wages must first rise or consumption should grow in order to stimulate the economy is pure Keynesianism and unfortunately that is not how economics works.

The main effect is first of all that the yen has stabilized massively against the dollar. the Bank of Japan is no longer throwing any US government bonds into the market to support the yen. in my opinion, this is also an effect that is being achieved through the interaction between the Fed and the BoJ. the Europeans are suffering, as the carry trade between the yen and the euro is disappearing into thin air. this means that one of the most important sources of financing for European debt is disappearing. this could become even more dramatic

both the state and large parts of the private economy have adapted to this. even the minimal interest rate hikes of the real interest rate, which has barely made it into positive territory, are putting such a strain on the entire system that everything is under massive tension. i think a normalization of interest rates in europe would bring this system to collapse.

Absolutely and very low birth rates as far as I know.