Japan's economy has collapsed. The value of wages in relation to the rest of the world is dropping like a stone. So many who used to be able to take a yearly overseas trip potentially won't be able to for the next decade or two unless things change.
I would be curious what your description of a high quality of life is. As I don't believe that for one of the great global powers is what is considered a high quality of life.
Firstly, the worth of the wage locally has dropped by approximately a third in just a few years. I worked there for 7/8 years in recent times and can see such a change from then to now in my colleagues and now friends lifestyle. Most are significantly cutting back in their life in some way.
Secondly openly it looks as if very few go hungry but that's not the case. Pensioners, those with disabilities, and many single parent families are really struggling to put food on the table for all in Japan. For many others, I don't count eating ramen regularly, which is effectively a student diet (also because of poverty) as being satiated.
Current government already borrowed half a trillion Euros and if the trend continues that would destabalise complete euro economic area which would affect other countries as well
You'll still hear people complaining about things like a crack in the road that hasn't been repaired in a timely manner (timely being less than 2 weeks).
I think you may be using the word 'collapse' incorrectly here, as do other commenters under you - no eastern European economy is 'collapsing' in any meaningful way, maybe apart from Belarus who is quite opaque from outside and Ukraine for obvious reasons.