JAPAN'S ECONOMY AT A MAKE-OR-BRAKE POINT

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Marisol Rodríguez
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Marisol Rodríguez
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JAPAN'S ECONOMY AT A MAKE-OR-BRAKE POINT
  1. Main objective: To reinvigorate the economy (Economic Growth) and to get away from deflation
    1. Stimulus Programme (Abenomics)
      1. Very expansive monetary policy: buying goverment bonds (Quantitative Easing)
        1. Expansive Fiscal Policy
          1. Increase public investment
          2. Structural Reforms ==> agriculture liberalisation ==> TPP
        2. The problems and dilemmas
          1. To keep the expansive sign of monetary policy?
            1. Substantial devaluation of the yen
              1. Popular discontent
                1. More expensive imports (oil&gas)
                  1. Increase in exports, but not by much
                  2. Prioritise growth?
                    1. "No fiscal health without economic revitalisation!
                      1. Tax increase a "National issue"
                    2. To raise sales taxes as planned or not?
                      1. Rise in prices. Drop in consumption. Restrain on the economy
                        1. Credit worthiness
                        2. Inflation (short term?) => Drop in real wages Uneven distribution of benefits from Abeconomics
                          1. Drop in consumption
                            1. Popular discontent
                          2. Vast public debt
                            1. Stagnant Growth and Demand
                            2. Background information: slugish growth + deflation
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