The South China Morning Post asks “Have the first – seismic – cracks begun to occur in Abenomics, Prime Minister Shinzo Abe’s bold plan to reform and get Japan’s economy moving again?”
The report highlights concerns of Hiroshi Mikitani, the chief executive of Rakuten, Japan’s biggest e-commerce company, who is concerned over the decision to exclude some categories of drugs from deregulation and not to allow them to be sold on the internet.
“Abe’s growth strategy was about bringing down regulatory barriers and cultivating new businesses and services,” Mikitani said. “It’s disheartening to see that now going in the opposite direction. Rather than disappointed, I’d say that I’m fed up.”
- Mikitani highlights the point that this concession to powerful medical interests calls into question Abe’s reform commitment
- He has threatened to quit Abe’s key panel advising the government on economic reforms
The article is here:
Seismic cracks in Abenomics
Doubts cast over Japanese PM’s commitment to reform push amid opposition from influential and politically well-connected interests
