Japan enters the new year with its economy on solid, albeit unexceptional, ground.
Wages are rising and inflation is being beaten back. The government has passed a stimulus program that should help promote growth and provide some protection from inflationary pressures.
Unfortunately, even those modest achievements are vulnerable. Political uncertainty at home and a tumultuous international environment pose real risks for the nation’s economy. There is little that Japan can do about the external factors. The government of Prime Minister Shigeru Ishiba — or whoever succeeds him — must therefore do all that it can to avoid adding to the strain.
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