business

Look to Japan's aging industrial sprawl for roadblock to Abenomics

6 Comments
By Yoko Kubota

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"Abenomics" IS a road block!

3 ( +4 / -1 )

Abenomics is an idea but not necessarily the solution, it appears.

3 ( +4 / -1 )

Instead of the govt in Japan supporting aging & no-longer-viable industries like steel & auto & electronics that face insurmountable hurdles from cheaper & younger manufacturing economies, they should focus on developing competencies in new industries like renewable energy. If they focused on improving solar, wind and geothermal technology and exported it abroad, Japan could wean itself off of foreign oil & gas & high-risk & costly nuclear energy. China is the biggest solar panel manufacturer so its already well ahead of Japan in this energy production area. However Japan could still use their resources to improve and enhance other renewable energy industries & lead the way, for example in geothermal energy, to reduce its dependence on foreign oil imports & develop new industries to replace the non^competitive ones holding the economy back.

4 ( +6 / -2 )

Mikeiro:

" If they focused on improving solar, wind and geothermal technology and exported it abroad, Japan could wean itself off of foreign oil & gas & high-risk & costly nuclear energy "

No, it could not. Endlessly subsidizing unrealistic pipe dreams is even worse than Abenomics.

-4 ( +2 / -6 )

Japan is the world's largest creditor nation and had 1.6 trillion US dollars in forex reserves. I'd say they're doing fairly well. At least they don't have one-sixth of their people on food stamps or 47% of their population on welfare. Keep it up Japan.

1 ( +2 / -1 )

This picture does not look too good for Abe. If exporters can't capitalized on the low yen against the dollar this advantage will soon diminished. Moving capital oversea to expand or upgrade their oversea plants defeat Abe's economic strategy intended to boost and up kicked domestic spending as well as domestic investment. My initial doubt of Abeconomic irrespective of current stock market rise still holds and as I have mentioned in my previous comments in other articles in this paper the future inflation monster will come back to haunt Abe.

1 ( +1 / -0 )

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