Japan Economy Watch β’ 439 implied HN points β’ 11 Jun 22
- Prime Minister Kishida retreated from his 'new form of capitalism' due to pressure from critics and financial markets misunderstanding his policies as socialist.
- The policy document lacked substantive measures to bring about a 'virtuous cycle of growth and distribution' despite initial reform efforts.
- Kishida's leadership style, as a consensus-builder, hindered the ability to make significant economic changes and prioritize key economic measures.