Japan’s voters settle for more of the same

Shoppers at the Louis Vuitton store in Tokyo's upmarket Ginza district (photo: dpa)
Shoppers at the Louis Vuitton store in Tokyo's upmarket Ginza district (photo: dpa)

Shinzo Abe won a resounding victory in a snap poll which appears to legitimise his ‘Abenomics’ growth policy. But he was helped by a weak opposition and a record-low turnout, and his ‘third arrow’ - the promised structural reform – was absent from the election debate. Abenomics has so far created a ‘feel-good economy’ which runs on monetary and fiscal steroids. Critics claim it will begin to falter in 2018, marking the start of Japan’s ‘Argentinisation’ – a long and painful economic decline.

Japan’s voters settle for more of the same

JAPANESE Prime Minister Shinzo Abe’s gamble to call a snap election after only two years in office to ensure a stable majority for another f...

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