Abenomics working and G8 seems to stamp approval

Japanese cabinet ministers welcomed the Group of Eight summit’s stance on Tokyo’s sweeping stimulus policies as a vote of confidence in the government’s strategy to end 15 years of entrenched deflation and revive a lackluster economy.

Japan’s economics minister also moved to parry any suggestion that Prime Minister Shinzo Abe’s policies, known as “Abenomics”, are aimed at intentionally weakening the yen to benefit the country’s exports.

“Abenomics” combines fiscal stimulus, expanded debt purchases by the Bank of Japan and economic reforms, but some argue the policy mix could worsen Japan’s debt burden, devalue the yen and disrupt global capital flows.

http://www.youtube.com/watch?feature=player_embedded&v=MA_XnrdrBzk

Read the rest of the story: Japan says G8 stance is sign of approval for ‘Abenomics’.

Leave a Reply

Your email address will not be published.