Room for growth?
Well, maybe.
The slices might still depend on the size of the cake.
Japan hit some kind of 'growth' ceiling for over a decade (also involved dodgy financial arithmetic) but has nudged up somewhat recently. Is Japan's ability to engage with recent China something to do with this recent bit of growth? China is now Japan's biggest trading partner, overtaking USA. Also Japan's relationship with China seems to have turned on a sixpence (dime) this year - agreement on exploration and development of previously disputed gas offshore.
http://www.iht.com/articles/2008/06/18/asia/gas.php
Global competition and the ability (the race) to command resources?
(We used to talk about limiting factors analysis in process control but it gets difficult on the global scene, what with changing balances between manufacturing and services within GDP - also, how much competitive 'advantage' [sic] does USA get from its presumably larger allocation of GDP to non-discretionary petroleum transport kWh?)

The "growth ceiling" was mostly a drought in domestic investment in productive capacity, as Japanese industry shifted from roughly 90% domestic content of production to roughly 60%.

However that shift was largely outsourcing production stages that could be handled well in a labor intensive way in South East Asia and China ... the "outsourcing of material and energy" was the foundation of Japanese heavy industry for its initial post-WWII growth industries of steel and ship building, continuing into the second stage with motor vehicles.