Abenomics in Japan: Are the Three Arrows on Target?
Monday, April 28, 2014 / 9:30 am - 10:30 am
Torkel Patterson, Senior Advisor, Central Japan Railway Company; Board Member, Pacific Forum of the Center for Strategic and International Studies
Curtis S. Chin, Asia Fellow, Milken Institute; Trustee, World Education Services; Former U.S. Ambassador to the Asian Development Bank
Etsuro Honda, Special Advisor to the Cabinet, Office of the Prime Minister, Japan
John Koudounis, President and CEO, Mizuho Securities USA Inc.
Paul Sheard , Chief Global Economist and Head of Global Economics and Research, Standard & Poor's Ratings Services
Prime Minister Shinzo Abe came to power in Japan advocating economic policies based on the "three arrows" of monetary easing, fiscal stimulus and structural reform. The first arrow was designed to address chronic deflation, the second to reignite economic growth and the third to attract investment and ease stifling regulations. Although some economic pundits wished these policies were more robust, most economists around the world have given Abenomics the thumbs-up. Yet since Abe took power in 2012, his program has not stimulated fundamental change in Japan's economy. In this session, experts will discuss Abenomics and the range of key issues affecting Japan's future. Among them, its commitment to the Trans-Pacific Partnership, its aging population, the impact of Fukushima and how what happens in Japan influences the global economy.