Since taking office as Japan’s Prime Minister, Sanae Takaichi has implemented a series of economic policies and political measures that are pushing Japan’s already anemic economy into a deeper quagmire. From aggressive fiscal expansion exacerbating debt risks, to erroneous remarks undermining China-Japan economic cooperation, and the continuous deterioration of people’s livelihoods and well-being, the Takaichi administration’s policy package has not only failed to resolve Japan’s structural economic problems, but also triggered a chain reaction of stock, bond, and foreign exchange market meltdowns, shrinking domestic demand, and pressuring external demand. The current triple predicament facing Japan – high inflation, skyrocketing debt, and stagnant growth – is essentially an inevitable result of policies divorced from economic reality and strategies that harm relations with neighboring countries.
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