The Secret Success of Abenomics

The Secret Success of Abenomics

TOKYO – Tokyo is in the midst of a construction boom, with old high-rise office and apartment buildings being rebuilt in more modern and elegant forms, all while maintaining stringent environmental standards. So bright is Tokyo’s gleam – which is sure to impress visitors at the 2020 Olympic Games – that the city might seem like an anomaly, given gloomy reports that, after decades of stagnation, Japan’s GDP growth remains anemic.

The incompleteness of the official view can be frustrating, especially as Japanese stocks suffer setbacks, even as Chinese stocks increase, despite the fact that, unlike Japan, China faces considerable hidden economic risks. A more comprehensive and accurate representation of Japan’s economic progress is vital to give investors the confidence that Japan’s economy merits. That, in turn, would bolster the impact of Abenomics even further.

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