Prime Minister Abe returned to power in late 2012 with the intention to lift average real GDP growth to 2% by implementing policies at “unprecedented speed”. Despite some success incertain areas, overall progress has been disappointing, and the third round of the government’s “Revitalisation Strategy”, released last month, was distinctly uninspired. The upshot is that Japan’s sustainable rate of real GDP growth will likely remain stuck at around 0.5% in coming years.
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