Skip to comments.Japanese PM Shinzo Abe says "There Is No Alternative" to Abenomics (Japan)
Posted on 06/19/2013 9:43:01 PM PDT by TexGrill
LONDON, June 19 (Xinhua) -- Japanese prime minister Shinzo Abe picked up on one of the key economic philosophies of former British prime minister Margaret Thatcher at a speech in the heart of London's financial district Wednesday night when he said "there was no alternative" to his Abenomics approach to rebuilding Japan's economy.
Abe was in London as the final part of his visit to Britain for the G8 Summit, which was held on Monday and Tuesday in Northern Ireland.
Abe said at a speech to hundreds of financiers and academics in the Guildhall in central London, "In order to shift people's expectations upwards, I have considered it necessary to hammer out a full range of policies all at one stretch."
He added, "For Japan at this juncture, to echo the approach of the late Baroness Margaret Thatcher, this is a case of 'TINA' -- 'There Is No Alternative.'"
Abe, who took office for the second time as prime minister in December of last year, has launched a wide-ranging change in economic policy, or "three arrows", which include monetary and fiscal stimulus policies, as well as economic structure reform, in a bid to stimulate the world's third largest economy into growth.
Japan faced structural issues -- first to extricate itself from deflation, second to improve labor productivity, and third to maintain fiscal discipline, said Abe.
Abe said that a lack of political will had been to blame for Japan's failure to end deflation. He continued, "What I would like you to take home from my address today boils down to this single thought: that my economic policies are backed in all respects by my political will."
(Excerpt) Read more at news.xinhuanet.com ...
I love the guy.
Its 25% cheaper to visit Tokyo, now vs. a year ago.
Sure all my customers have to pay me 25% more and they’ll going in debt up to their eyeballs buying my stuff, but where else are they going to go?
They should have stocked up a year ago when my stuff was cheap.
Cool, maybe this is a good thing so many a freeper can legally emigrate to a country that takes border security seriously.
I hear Northern Japan needs farmers.....
The Climate is supposedly like a mix of Washington State and Colorado...
The bastards are going to raise the “ consumption “ tax from 5 to 7% next year ..and then to around 10% a couple of years later . I live here - not happy . Yet the sheeple protest nuclear power and not the tax increase . EVERYTHING is taxed - clothes , medicine , hospital visits/stays , food , etc......F ‘em !