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PM Abe Confident Japan’s Economy to Drive Global Recovery

Japanese Prime Minister Shinzo Abe urged Wall Street traders to invest in Japan, promising in a speech at the New York Stock Exchange yesterday that its economy will become a driving force for global recovery.

Abe vowed to conclude regional free trade talks by the end of the year and promoted Japanese products from sushi to LED light bulbs and a high-speed train system he said could link New York and Washington D.C. in less than an hour. In a second speech at the conservative Hudson Institute he defended a military spending increases and said he wants Japan to be a “proactive contributor to peace.”

Abe took office in December vowing to revive the moribund economy with what’s been dubbed Abenomics, a combination of drastic monetary easing, fiscal stimulus and regulatory reform. The economy has since seen three straight quarters of economic expansion and the Topix index has risen 41 percent this year.

Bloomberg [1]

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