PM, ‘Abenomics’ Win Japanese Election
Shinzo Abe is getting another chance. Japan’s incumbent prime minister won a landslide victory in Sunday’s snap elections, despite deep misgivings about his stewardship of the national economy. His strategy of cheap credit, public spending and structural reforms didn’t stop the country from falling into a recession this year. With a new voter mandate, Abe must now deliver on a revival plan that has failed to impress investors, evidenced by the Nikkei stock index dropping 1.6 percent following his election victory.