"Abe Shinzo should perhaps now be considered the standard bearer of liberalism around the world,"
-Michael Cucek, a blogger who writes about Japanese politics
Back in 1868, a group of Japan's officials worked together to stamp out feudalism and reform the land of the rising sun by opening borders and promoting industrialisation. In slightly more than a decade these men reshaped the country from top to bottom. Current Prime Minister, Shinzo Abe is trying to reshape the economy and also leave its own traditions. First two arrows of the so-called Abenomics were successful, while a third arrow, first launched in June 2013 failed. Last week's announcement looks like a proper attempt. And it seems that Shinzo Abe is going to use the best chance to reshape the world's third largest economy.
First, the economy has already reached a point at which almost all citizens realize that reforms are vital. Secondly, the Prime Minister is finally pursuing schemes of such breadth that will affect almost all sectors of the economy. Abe's reform plan is far weightier than his predecessors. He will try to free up a health-care sector, to ease the way for foreign and local entrepreneurs and will do whatever it takes to overhaul corporate governance. He will face difficulties, however, his plan is already represents a coherent vision of a more innovative globally minded society. It is not a question why Abe's approval ratings are still rising and pushing stocks higher.
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