Abe’s Bullseye
Over the last 18 months, the first and second "arrows" of Abenomics – expansionary monetary and fiscal policies – have achieved considerable success in spurring Japan’s economic renewal. Now it is time for Abe to launch his third and final arrow: an ambitious reform package focused on reducing barriers to growth for businesses.
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TOKYO – Japanese Prime Minister Shinzo Abe has unveiled his long-awaited growth strategy – the so-called “third arrow” of what has come to be known as “Abenomics.” A preliminary version of the plan, announced to Japan’s Diet last year, was met with disappointment in international financial markets, which had expected a bolder approach. The new version is far more robust – and has received a far more positive global response.