December 3, 2013

Japan in a Post-Growth Age

Norihiro Kato, New York Times

The Associated Press

Now that "Abenomics" -- expanding the money supply to spur inflation and push interest rates below zero; pushing the yen down, to revive the country’s once mighty export sector; and increasing the government’s already huge public debt to pay for new investments in infrastructure and research -- is no longer just a proposal, but actual policy, the mood has changed. People all around the country -- including Mr. Koizumi, I suspect -- are becoming anxious about the future of Abenomics. They are coming to realize that the dream of returning Japan to the era of rapid export-led growth between the end of World War II and the late 1980s might not be realistic.

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TAGGED: Fukushima, Shinzo Abe, Abenomics, Japan

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