The Limits of Abenomics

Yuya Shino / Reuters

The Nikkei is on the mend after a rocky summer, while the weakened yen is driving a rally in Japanese exports.

Economic success reflects both reality and psychology. The biggest question in the global markets right now is whether Japan is about to get a boost to both. The Nikkei has been staging a stealth comeback after this summer's plunge, and corporate profitability and business confidence are as strong as they have been in years. But does the rebound signal a true recovery? Prime Minister Shinzo Abe would like us all to think so and is pinning his long-term hopes on the 2020 Olympics as a turning point for the country's two-decade...

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