First up, this December 15, an election in Japan. Its economy isn`t doing well. We told you it fell to a recession this year, which means instead of
So, what does this mean? It means that the Prime Minister will have four more years to institute his plan of
economic reforms known as Abenomics. Flooding the market with cash, encouraging corporations to create more jobs and increasing government
spending. All of this in attempt to revive the Japanese economy after nearly two decades of stagnation. So far, the policy has been a mixed bag:
there was a very unpopular sales tax increase earlier this year that helped push Japan into a surprise recession. The Yen is at a seven year low, and
in this country, the rely is on imports when the Yen is weak, a lot of things at the grocery store are much more expensive, so it`s really hurting
Japanese consumers and small and midsize businesses and many voters are expressing apathy as one reason that the voter turnout in the snap election
was so low, but the prime minister says, this is a mandate from the Japanese people to stay the course and keep pushing ahead with Abenomics,
and hopefully, he says, give the Japanese people the economic revival that he promised when he was first elected two years ago. And apparently now
reelected for another four years.