The head of global investment giant Blackstone on Monday gave the thumbs up to "Abenomics", the latest evidence that Prime Minister Shinzo Abe is winning over the global business community with an economic policy blitz aimed at getting Japan Inc moving again.
Abe arrived in Turkey Monday to cement nuclear contracts and push the export of more reactors as the industry tries to emerge from the shadow of the Fukushima atomic crisis.
Abe has traveled the globe since coming to power in December last year selling Japan's infrastructure as part of his bid to dramatically hike exports and light a fire under the country's long-slumbering economy.
John Studzinski, senior managing director and global head of Blackstone Advisory Partners, told journalists in Tokyo that despite the catastrophe on the Pacific coast, Japanese engineering remained well-respected.
And he said Abe's role as traveling-salesman-in-chief was giving investors confidence in Japan again.
"When you listen to him talk, listen to many of his interviews, many of his speeches he is very good at explaining how he thinks," he said. "As a result, to other leaders around the world, there is a strong leader... people respect that."
The endorsement from Blackstone, which manages $220 billion of assets, is a further feather in Abe's cap as he works to turn around perceptions about Japan's sluggish economy.
"I think... Abe has really reinstalled in this country a sense of passion for investment, a sense of confidence and conviction, we see much more robust confidence in Japanese companies particularly trading companies investing in North America, and also investing in other parts of the world, particularly in Europe," Studzinski said.
Japan's 3.8% annualised growth in the first half of the year is far outpacing other G7 nations as Tokyo's efforts have helped stoke a 38% rally in the Nikkei stock index.© (c) 2013 AFP