Skeptics Doubt “Abenomics” Will Cure Ills

Mihoko Asaka wants to know how candidates in this month’s election in Japan will create jobs and halt the drastic population decline that is bleeding her home region of youth and vitality, but has little hope they will offer real solutions.  Like many of his age group, her 25-year-old son left the largely rural prefecture of Akita in northeastern Japan to find work after graduating from college.

“I’m interested to see how much they are listening to the voices from this region,” said Asaka, 57, waiting for a bus in Akita City, the prefecture’s capital. “But I don’t think our voices are being heard. They talk about money being thrown around, but we can’t see where it goes.”

Critics say Prime Minister Shinzo Abe’s policies to end deflation and generate growth have helped mainly big cities, large companies and the rich by boosting share prices and exporters’ profits with a hyper-easy monetary policy that has slashed the value of the yen and sent asset prices higher.

CNBC

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