Tom McKay

From Ambrose Evans-Pritchard, Telegraph UK: For now, at least, Mr Abe's broader economic gamble is working. The Bank of Japan's vow to purchase $75bn a month of Japanese bonds and double the monetary base by mid-2014 has been electrifying. Growth was 4.1pc in the first quarter and 3.8pc in the second quarter, making Japan the fastest-growing economy in the G7 so far this year. The question is whether it is a monetary sugar rush or a genuine revival. Failure to find affordable energy quickly could prove the Achilles Heel of Abenomics.


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Tom McKay

and David Fullers reply... I maintain that Abenomics is a winning formula for Japan but energy costs are the biggest obstacle. Given Japan's long history of nuclear horrors - from Hiroshima and Nagasaki in 1945 to Fukushima in 2011 - it is understandable that its citizens will not tolerate the reopening of the nuclear plants.

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