Following a period of exuberance around Abenomics, Japanese Prime Minister Shinzo Abe’s three-pronged economic revival program is now generating a sense of unease among investors.
Abe initiated his “three arrows” strategy – based on a loose monetary stance, expansive fiscal policy and structural reforms – in December 2012, following his election as prime minister.
One-and-a-half years on, the way Abenomics has progressed can best be described as “eating dessert before the main course,” says Freya Beamish, economist at Lombard Street Research.
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