The Abenomics have started a year ago now (Happy Birthday !), but still faces harsh critiscism.
First, a definition from lexicon FT :
Abenomics is the name given to a suite of measures introduced by Japanese prime minister Shinzo Abe after his December 2012 re-election to the post he last held in 2007. His aim was to revive the sluggish economy with "three arrows": a massive fiscal stimulus, more aggressive monetary easing from the Bank of Japan, and structural reforms to boost Japan's competitiveness.
So, you're going to say "But, this definition is amazing, why critiscize such a great idea ?"
The first and second arrow were shot right away, with the massive devalue of the yen. While the yen was devaluated by 20%, Nikkei was up 20%.
And it didn't stopped there, japan's growth is still on ! But people are still waiting for the third arrow.
Despite the growth, wages didn't went up. So the average japanese doesn't see the difference.
Let's also remember that Japan is world's 3rd greatest economy, with most woman not working !
And that, also, didn't change. Didn't change yet, that is.
Let's face it, it's only be one year ! Culture doesn't change in one year.
Minimum wages was slated to be increased. Structural reforms will come in time ! But nor today, nor tomorrow.
I can see you coming :
"You're saying bullshit, I read on the internet that growth forecast as fell from 3.8% to 1.9%"
1) Japan is on growth while the whole world is on crisis. That's amazing.
2)They just recovered from a tsunami and a lot of nuclear shutdowns (foreign electricity is expensive)
So after one of the biggest natural catasprophe of the decade, and while the world is on crisis, Japan's economy is still growing !
So what does VGC thinks ?
My 2014 GOTY : Lethal League