With Shinzo Abe’s radical economic policy shift now one year old, now is an appropriate time to look back and assess its effectiveness. I see results principally in the currency and asset prices and to a degree on inflation. However, it is not clear that Japan has broken out a deflationary stupor. What should we expect going forward? And what do Abe’s nationalist tendencies augur for the future? Comments below
On 20 Dec 2012, just before Japan’s move to a consolidated balance sheet approach in which central bank and central government work hand in hand, I had this to say about Japan’s problems:
"The real problem in Japan is that the Japanese have allowed zombie companies to extract wealth from the economy at the expense of better-positioned companies or at the expen...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.