Investment giant Blackstone gives thumbs up to 'Abenomics'


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

©2022 GPlusMedia Inc.

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Birds of a Feather

5 ( +5 / -0 )

This is good information..... I know not to take any investment advice from Blackstone now! Thanks!

1 ( +6 / -5 )

And just how impartial is Blackstone?

2 ( +5 / -3 )

I can imagine what's going on in their offices...

They're probably saying "Keep going Abe!", as they continue to rake in millions in profit as they short the yen.

6 ( +8 / -2 )

Confusing, as the smaller one birthed the monster, but Blackstone is not BlackRock:

BlackRock (spun out and thrived, independently) AUM US$ 4.096 trillion (2013)[3] Total assets US$ 178.4 billion (2010)

BlackStone Group: AUM US$210 billion (2012) Total assets US$28.931 billion (2012)

Still, not to be sneezed at. And that makes me scratch my head and wonder. Why?

"John Studzinski, senior managing director and global head of Blackstone Advisory Partners, "

Is this Blackstone Advisory Partners a smaller division? What are they planning in Japan that will require a friendly government?

0 ( +1 / -1 )

Another paid story cooked up by Shinzo Abe to try to prove the success of his economic policies. If Blackstone says Abenomics is working it means that it has already bought into the market and baiting the suckers to come in before he sells them lock, stock and barrel.

0 ( +0 / -0 )

Of course they would applaud the fleecing of the little people. Duh!

4 ( +6 / -2 )

This endorsement by an exploitative group like Blackstone is actually a condemnation by most humane standards.

4 ( +6 / -2 )

And just how impartial is Blackstone?


0 ( +1 / -1 )

Yeah I agree, Abe has done an incredible job building confidence overseas, vastly more than I think anyone could have hoped. Foreign investment is starting to pick up so is looking good. Now all we need is big labour market reform.

-2 ( +2 / -4 )

I give middle fingers up, is that the same?

0 ( +2 / -2 )

No mention of the consumption tax hike?

2 ( +2 / -0 )

They'll endorse anything as long as they're invested in it. Just another market manipulation.

-1 ( +0 / -1 )

We'll see what they're saying when Abe's reforms stall and demand remains stagnant or drops because companies would prefer to pocket the government's handouts rather than pass them on in the form of wage hikes.

0 ( +1 / -1 )

Abenomics is good for large investment firms because it increases the money supply relative to goods and services produced in the economy. Those who hold the largest amount of assets will win. Those who dont hold much assets and who spend most of their money on instant consumables, will lose.

0 ( +1 / -1 )

Wait till they sell you what they bought at low prices and you get stuck with severe losses as the Japanese stock market plunges and the economy goes into stagflation.

0 ( +0 / -0 )

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