Article Excerpt
Abenomics is No Cure-All For Japan Inc.
BY DUNCAN MAVIN
Who knew it could be so simple? After years in the doldrums, Japanese equities are rising almost indiscriminately, thanks to new Prime Minister Shinzo Abe’s economic policies.
The Nikkei is on its longest winning streak in decades, gaining almost one-third since November. The yen has weakened about 14% against the dollar over the same period.
The exuberance appears rational since the weaker yen makes Japanese exports more competitive and boosts repatriated earnings from overseas.
The break-even exchange rate for Japanese exporters is about 85 yen to the …
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