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Shinzo Abe's Economic Plan

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Abenomics is the economic program intended to put Japan on a path of recovery from its economic failures in the late 20th century. Japan, a once huge economic power, has been in a massive downfall which has caused a problem of deflation. Along with a massive debt that is higher than most all countries when scaled by GDP, as well as an aging workforce and a stagnation of production, there are many serious problems that must be addressed. This has led two-time prime minister Shinzo Abe to unveil his economic plan to restore Japan’s former glory in the 1950’s through the late 1980’s. His agenda involves a “three arrow system”, a plan that will strike three times in chronological order and will allegedly fix the country’s deflation problem. So …show more content…

The second arrow has formulated an economic stimulus plan with a huge budget intended to restore the intense damage caused by the meltdown of the Fukushima nuclear power plant and tsunami surge in the north-eastern part of Japan .This unexpected and disastrous event that occurred in 2011 caused mass chaos and hurt Japan’s economy badly at a time in which growth was …show more content…

Also, the second arrow wishes to promote growth of private investments and innovation. At a time in which Japanese giants such as Sony, Toshiba, Yamaha and Nintendo seem to have reached a period of downfall after massive success in the late 1900’s, Japan no longer has a hold on technology due to competition in China, as well as a lack of innovation to keep up with current trends. The second arrow is intended to give citizens the incentive to start and grow innovative companies that will help Japan regain its reputation as the technology capital of the world. Although the first two arrows have shown success, the last point of structural reform is necessary to put Japan on a path of economic stability and independence. The third arrow seeks to increase the speed of structural reform in the private sector, reform the working market to a more flexible system that is more friendly to foreign workers, as well as many other points. A large part of Abe’s agenda is the unleashing of the power of women that has remained hidden until now. However, rather than being a feminist, Abe wants women to work in order to help the

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