Abenomics Aims to help Japan regain its World Stature

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A few weeks after taking office in December, 2012, Prime Minister Shinzo Abe announced plans to implement new economic policies targeted at pulling Japan out of recession and spurring it towards growth.

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The “three-pronged” approach or Abenomics includes a huge stimulus package worth 20.2 trillion yen ($210 billion). Of it, a 10.3 trillion yen short-term stimulus package has already been approved by the cabinet for infrastructure projects focusing on building bridges, tunnels and earthquake-resistant roads. And around a third of the package, Japan’s second largest ever, is to stimulate private investments, including the promotion of clean energy.

Dr. Haruo Shimada is President of Chiba University of Commerce and a visiting professor at the Massachusetts Institute of Technology and ESSEC, France. He has previously served as a special advisor to the Cabinet Office from 2001 to 2006.