At a time when the world is facing a major financial disruption investors look for a safe haven for their money, and despite the economic backdrop the yen is seen as one of the safe havens, a place with little risk.
Paradoxically, the world's largest debtor nation, with negative interest rates and an ageing citizenry don't seem to gather the regular conditions for the country’s currency to spike, but that’s exactly what has been happening to the yen during this year.
Polls over the past year have shown that more than three quarters of the Japanese population have not benefited from Abenomics.
The economy is at a standstill, wages and household income are stagnant and deflationary pressures remains strong.
When it was first advertised, Abenomics filled the Japanese stakeholders with encouraging expectations over an economic rebound.
With too little changes in the economic situation, the current policy is gathering the acronym of the “welfare for the wealthy” - it only boosts Nikkei and Topix.
William Pesek [1] author of Japanization: What the World Can Learn from Japan’s Lost Decades (2015) stated by Jeff Kingston:
Abe’s catchy marketing campaign wowed a media establishment accustom
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