Economists, fund managers and analysts discuss the successes and failures of Abe Shinzo’s economic policies
Japanese Prime Minister Shinzo Abe. Picture: GETTY IMAGES/POOL/FRANCK ROBICHON
“At the same time, for the BoJ the offshoot target for inflation is the same as in other countries — which is 2% — and the current level of inflation is far short of that target.”Asian Century Quest managing partner Brian Kelly: Achieved “Prime Minister Abe should have delayed hiking the consumption tax until at least the BoJ had achieved its, and the government’s, aim of sustained 2% CPI inflation.”“The government was right to favour recovery over fiscal balance. Hence it made sense to move to fiscal expansion, but it pulled back too soon.
“If you look at the numbers ... you see that 50% of Japanese shares traded at the Tokyo Stock Exchange are now held by foreigners and institutional investors. Moreover, in the period of 2017-2019, Japan has attracted more private equity investments than any other country, and Japan’s M&A activities are second after the US.”“Japan as a market remains unattractive for obvious demographic reasons, including the oft-cited labour rigidities.
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