Jakobsen: The real lesson from Japan’s electionSteen Jakobsen
Shinzo Abe may have convincingly won Japan’s election but now the real test comes. Steen Jakobsen, Saxo Bank’s Chief Investment Officer, says the economic truth about Japan is sobering. Without real reforms “Abenomics” is somewhat doomed.
The country’s debt is of particular concern to Jakobsen and he fears that there’s too much rhetoric and not enough action. It’s easy to create optimism, he says, but it’s far more difficult to follow that through with action.
Jakobsen likens Japan to a baseball game. It has nine innings and we’re only in the second or third. But he does agree that Japan is on the right path and ahead of the rest of this world at this stage.