The Wrong Growth Strategy for Japan
Japan’s new government, seeking to boost economic growth, could be about to shoot itself in the foot by destroying its one great advantage: the low rate of interest on government debt and private borrowing. If that happens, Japanese conditions will most likely be worse at the end of Prime Minister Shinzo Abe’s term than they are today.
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CAMBRIDGE – Japan’s new government, led by Prime Minister Shinzo Abe, could be about to shoot itself in the foot. Seeking to boost economic growth, the authorities may soon destroy their one great advantage: the low rate of interest on government debt and private borrowing. If that happens, Japanese conditions will most likely be worse at the end of Abe’s term than they are today.