Asia: Trials of a superhero

Posted: November 18, 2013 in economy
Tags: , ,

UK Only Article: 
standard article

Fly Title: 

Asia

Rubric: 

The ordeals that lie ahead for Japan’s prime minister and his bold economic experiment

Byline: 

Tamzin Booth

Location: 

TOKYO

Main image: 

20140110_asc001_l.png

Shinzo Abe, Japan’s prime minister, reminds the people who voted for him of a hero from a legend. His programme for the economy, known as “Abenomics”, has made him unusually popular. Mr Abe has promised to slay the monster of deflation, to shatter the bedrock of excessive regulation and to kiss Japan’s stagnant economy back into life. But 2014 will be a year of reckoning. A series of trials will reveal whether Mr Abe really is a fairy-tale prince, or just another political frog.
His most fearsome test will be to raise the consumption tax, Japan’s version of value-added tax. Only one politician before Mr Abe has ever dared to increase it, so it remains, at 5%, among the lowest in the rich world. He will push it up …

via Economic Crisis http://www.economist.com/news/21589111-ordeals-lie-ahead-japans-prime-minister-and-his-bold-economic-experiment-trials?fsrc=rss

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