Much of the Western press seems to have knives out for "Abenomics," the ambitious program of economic reform initiated by Prime Minister Shinzo Abe. I am not sure exactly why. Perhaps it's because one of the main policy initiatives (or "arrows") of Abenomics involves monetary easing, which seems to scare Western pundits.
But whatever the reason, the Western press proclaims the "death of Abenomics" with metronomic regularity. Here's the latest example:
"Japan appears to be faltering again. . . .(T)here are signs that output may have slipped again in the third quarter, driven down in part by a slowing Chinese economy. Economists expect any recession to be short and shallow, but the deeper lesson looks more troubling: Nearly three years after Prime Minister Shinzo Abe gained office . . . a decisive break with the past still appears far off. . . .
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