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===[[File:Cball-Japan.png]] Japan [[File:LDP(Japan).png]][[File:ShinzoAbe.png]]=== |
===[[File:Cball-Japan.png]] Japan [[File:LDP(Japan).png]][[File:ShinzoAbe.png]]=== |
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<blockquote>''Main Articles: [[File:Necon.png]] [[Neoconservatism]] and [[File:Reactlib.png]] [[Reactionary Liberalism]] ''</blockquote> |
<blockquote>''Main Articles: [[File:Necon.png]] [[Neoconservatism]] and [[File:Reactlib.png]] [[Reactionary Liberalism]] ''</blockquote> |
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==== Economics ==== |
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Mr Abe's signature economic programme was the set of policies that he introduced from 2012. |
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His plan was to jumpstart Japan's economy out of two decades of stagnation using the so-called three "arrows" of Abenomics: |
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Monetary policy: Japan's hyper-easy monetary policy in the form of negative short term interest rates was put in place to make it cheaper for consumers and companies to borrow money and spend. |
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Fiscal stimulus: Pumping money into the economy, which means the government spending more money on things like infrastructure, or giving financial incentives to companies like tax breaks. |
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Structural reforms: Corporate reform, adding more women into the workforce, labour liberalisation, and allowing more migrants into the workforce to help ease labour pressures and add to economic growth. |
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===== Did Abenomics work? ===== |
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As an exercise in political branding, Economists considered Abenomics a success, though it fell short of Mr Abe's own key economic target. |
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When his government took office it was faced with the task of revitalising Japan's once dynamic economy, which was still in the shadow of the major slowdown during the so-called "lost decade" from around 1991 to 2001. |
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Abenomics did help drive growth, though not at the pace that the country had seen during its post-war boom. Even now, the size of the economy remains lower than the 600 trillion yen (£3.7tn; $4.4tn) goal set by Mr Abe's administration for 2020. |
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But as he left office many economists credited Mr Abe for putting the country in a more robust position to withstand economic shocks like the pandemic than when he came to office almost eight years earlier. |
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===== Shinzo Abe's economic legacy ===== |
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Mr Abe's economic approach was called into question when Japan slipped back into recession in early 2020. |
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He also faced criticism over how he dealt with Covid in the country. He mounted campaigns to encourage domestic tourism which opponents said contributed to a resurgence in infections. |
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Critics also say Abenomics failed deliver on pledges such as giving women in the workforce more of a voice, tackling nepotism and changing unhealthy work cultures. |
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However, on Friday, Bank of Japan governor Haruhiko Kuroda said Mr Abe had done much towards "pulling Japan out of prolonged deflation" and "achieving sustained economic growth". |
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He added he wanted to "express sincere respect for Abe's strong leadership", and "contribution to Japan's economic development". |
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===[[File:Cball-Malaysia.png]] Malaysia [[File:Mahathir.png]]=== |
===[[File:Cball-Malaysia.png]] Malaysia [[File:Mahathir.png]]=== |