"Abenomics and Japan’s Growth Prospects"

Until 2012, Japan had suffered two decades of economic stagnation and deflation. Particularly frustrating to businesses was the rampant appreciation of the yen, which accelerated despite such poor growth and the earthquake and tsunami of March 2011. After his election, Abe pressed the Bank of Japan to embark on monetary easing, achieving both a weaker yen and a rising stock market.

Prior to Mr Abe’s appointment as Prime Minister of Japan in December 2012, Japan had suffered two decades of economic stagnation and deflation. This economic malaise came immediately after the housing and stock price bubble collapses of the 1990s. In November 2012, the Tokyo Stock Exchange sat at around 8,000, less than a quarter of its peak in 1989, and land prices in urban commercial sectors were at one-fifth of their high water mark. Throughout these two decades, the real economic growth rate was less than 1 per cent per annum and the rate of inflation fell into the negative after the global financial crisis of 2008. What was particularly frustrating to the Japanese business community was the rampant appreciation of the yen, which accelerated despite such poor growth and the earthquake and tsunami of March 2011. After his election, Abe pressed the Bank of Japan to embark on a bold policy of monetary easing, succeeding in achieving both a weaker yen and a rising stock market.

Friedrich-Ebert-Stiftung
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Photo: Conference, FES Japan

Events

German-Japanese Economy Dialogue

During the visit of Mr. Wolfgang Tiefensee, State Minister of Economy, Science and the Digital Society in the government of Thuringia, the Japanese-German dialogue on economic policy was deepened. Minister Tiefensee met with Diet Members and researchers in Tokyo.

 

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EPRIE 2017- Exchange Program For Regional Integration In East Asia And Europe

EPRIE 2017 will take a closer look at global migration patterns as well as differences and similarities between migration policies in Europe and East Asia.

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Symposium "Ageing Societies and Legal Approaches"

Germany and Japan are both confronting substantial social and political challenges of an increasingly aging society. Their goal is to find sustainable solutions, particularly with regards to social and labor rights. Among important objectives in this field are generational equity, financial viability of the social security system, and prevention of age discrimination. By comparing both countries’ legal frameworks, resolutions and strategies on the issue, potential problems can be uncovered and possibly avoided.

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Graphic: Publications, J. Traud

Latest Publications

Study "Social Innovation Polcy for Industry 4.0"

The concept of “Industry 4.0” outlines the vision of a smart factory, which is characterised by the complete networking of all production parts and processes: real time control via ITC and the increased use of robots, which control themselves, are developments that should contribute to greater productivity through resource efficiency. The shift is already under way and the concept of Industry 4.0 is shaping the digital discourse in Germany.

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Interview "House of Representatives Elections 2017"

Interview with Sven Saaler regarding the 2017 House of Represenatives election and the trouble of the largest opposition party, the Democratic Party of Japan.

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Commentary "House of Representatives Elections 2017"

In the 2017 House of Representatives election, the LDP could again win a clear victory. The opposition was more divided than ever, after the break-up of the Democratic Party, and could not pose a serious challenge to the Abe government.

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