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Monday, November 28, 2022

The last moment of former Japanese Prime Minister Shinzo Abe’s death: News and reactions

In early 2013, former Japanese Prime Minister Shinzo Abe launched a grand experiment designed to lift Japan’s economy out of decades of stagnation. Known as “abenomics”, it consists of three arrows: massive monetary stimulus, increased government spending, and significant economic reform.

“Abenomics”, in very simple terms, was a throw-it-all, buy-it-all strategy to try to stimulate growth. So there’s massive spending in the economy, buying government bonds, implementing economic reforms,” ​​Nation World News’s Anna Stewart explained. “It was a way of trying to get massive jobs, make people richer so they can make more money.” can spend, and just try to run the economy.

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“During his tenure, the Bank of Japan was seen driving interest rates into negative territory,” he said, adding that such a move was highly unorthodox at the time, coupled with “huge quantitative easing”. was.

Since then, the measure has become much more traditional, especially in the last few years since the pandemic, with all kinds of central banks around the world – the US Federal Reserve, the ECB, the Bank of England – all taking similar steps. Yes, he added.

Stewart noted that Ebenomics was also successful, at least in the first few years, according to experts. “Critics will say that all three arrows did not shoot, and as a result, unfortunately success was limited.”

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“The problem for Japan was how to get rid of too loose monetary policy, and also some structural problems, especially with an aging workforce,” Stewart said.

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