{"id":30530,"date":"2025-10-29T19:26:56","date_gmt":"2025-10-29T18:26:56","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=30530"},"modified":"2025-10-29T19:30:05","modified_gmt":"2025-10-29T18:30:05","slug":"if-only-we-were-all-japanese-3","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/japan\/if-only-we-were-all-japanese-3","title":{"rendered":"If only we were all Japanese!"},"content":{"rendered":"

\"\"<\/p>\n

For the first time in its history, Japan\u2019s Nikkei 225 stock index has smashed through the 50,000-point barrier.<\/p>\n

In just six months\u2014since April of this year\u2014it has soared by<\/strong> 65%<\/strong>! Some $33 billion has flowed into the Japanese stock market from abroad.<\/p>\n

After decades of stagnation, the Japanese economy is now roaring.<\/p>\n

Following directly in the footsteps of her visionary predecessor Shinzo Abe<\/a> (about whom I have written extensively), Prime Minister Sanae Takaichi has launched a 13.9 trillion yen (over $90 billion) plan of infrastructure projects and fiscal expansion.<\/p>\n

The foundations of Abenomics<\/em> lie in generous government spending within the framework of a highly accommodative monetary policy.<\/p>\n

The Bank of Japan now maintains a positive benchmark interest rate of 0.5%, yet it continues to allow the financing of public spending at extraordinarily favorable terms.<\/p>\n

At the same time, the fact that rates are no longer negative is undeniably a positive signal\u2014encouraging both entrepreneurs who are gaining momentum and stock market investors motivated by a cost of capital that remains more than reasonable.<\/p>\n

And here\u2019s the final piece of good news: Japanese wages are rising again\u2014a significant development, since they had been falling in real terms for at least 20 years.<\/p>\n

Desperately wishing for leaders in Europe with the vision and boldness of Abe and Takaichi!<\/p>\n

\"\"<\/p>\n

\n","protected":false},"excerpt":{"rendered":"

For the first time in its history, Japan\u2019s Nikkei 225 stock index has smashed through the 50,000-point barrier. In just six months\u2014since April of this year\u2014it has soared by 65%! Some $33 billion has flowed into the Japanese stock market from abroad. After decades of stagnation, the Japanese economy is now roaring. Following directly in…<\/p>\n","protected":false},"author":4,"featured_media":30535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[648941263,648941275],"tags":[],"class_list":["post-30530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-japan","category-keynes-en"],"yoast_head":"\nIf only we were all Japanese! - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/japan\/if-only-we-were-all-japanese-3\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If only we were all Japanese! - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"For the first time in its history, Japan\u2019s Nikkei 225 stock index has smashed through the 50,000-point barrier. 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It is worth, however, updating this somewhat simplistic and caricatural joke by removing Japan from the list of economic aberrations. Albeit\u2026","rel":"","context":"In "Japan"","block_context":{"text":"Japan","link":"https:\/\/michelsanti.fr\/en\/category\/japan"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/12\/Shinzo-Abe.jpg?fit=729%2C510&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/12\/Shinzo-Abe.jpg?fit=729%2C510&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/12\/Shinzo-Abe.jpg?fit=729%2C510&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/12\/Shinzo-Abe.jpg?fit=729%2C510&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13808,"url":"https:\/\/michelsanti.fr\/en\/japan\/if-only-we-were-all-japanese","url_meta":{"origin":30530,"position":1},"title":"If only we were all Japanese!","author":"Michel Santi","date":"June 17, 2018","format":false,"excerpt":"Japan is known as much for its smartphones and robots as it is for the implosion of its real estate mega bubble nearly twenty years before the subprime crisis in the US in 2007, which itself preceded the collapse of the Spanish and Irish real estate markets in 2009. In\u2026","rel":"","context":"In "Japan"","block_context":{"text":"Japan","link":"https:\/\/michelsanti.fr\/en\/category\/japan"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Abe.jpg?fit=800%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Abe.jpg?fit=800%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Abe.jpg?fit=800%2C450&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Abe.jpg?fit=800%2C450&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":29729,"url":"https:\/\/michelsanti.fr\/en\/financial-crisis\/perfect-storm-in-the-land-of-tsunamis","url_meta":{"origin":30530,"position":2},"title":"Perfect storm in the land of tsunamis","author":"Michel Santi","date":"June 30, 2025","format":false,"excerpt":"\u00a0 The Bank of Japan (BOJ) is teetering on the edge of a financial abyss. As of March 31, 2025, it holds \u00a5575.9 trillion (US$3.97 trillion) in Japanese Government Bonds (JGBs), representing 52% of Japan\u2019s total public debt. For years, its massive bond-buying program\u2014part of an ultra-loose monetary policy\u2014flooded the\u2026","rel":"","context":"In "financial crisis"","block_context":{"text":"financial crisis","link":"https:\/\/michelsanti.fr\/en\/category\/financial-crisis"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/BOJ-losses.jpg?fit=1200%2C668&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/BOJ-losses.jpg?fit=1200%2C668&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/BOJ-losses.jpg?fit=1200%2C668&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/BOJ-losses.jpg?fit=1200%2C668&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/06\/BOJ-losses.jpg?fit=1200%2C668&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":26615,"url":"https:\/\/michelsanti.fr\/en\/crack-2\/black-monday-who-is-to-blame","url_meta":{"origin":30530,"position":3},"title":"Black Monday: who is to blame ?","author":"Michel Santi","date":"August 5, 2024","format":false,"excerpt":"\u00a0 Collapse of the Japanese Stock Market on August 5, 2024: A 12.4% Drop in a Single Session \u2013 The Worst Since the Infamous \"Black Monday\" of 1987! I see multiple reasons for this: Low Liquidity: The traditionally low liquidity in financial markets during the summer months. Weak Governance: The\u2026","rel":"","context":"In "crack"","block_context":{"text":"crack","link":"https:\/\/michelsanti.fr\/en\/category\/crack-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/GUMyelGbQAA7_VG.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/GUMyelGbQAA7_VG.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/GUMyelGbQAA7_VG.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/GUMyelGbQAA7_VG.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/08\/GUMyelGbQAA7_VG.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":13657,"url":"https:\/\/michelsanti.fr\/en\/central-banks\/you-dont-know-it-but-youre-doing-very-well","url_meta":{"origin":30530,"position":4},"title":"You don\u2019t know it but you\u2019re doing very well !","author":"Michel Santi","date":"November 25, 2015","format":false,"excerpt":"The Venezuelan stock market has rocketed up by 200% this year and finds itself sitting atop global stock markets in terms of this exceptional performance. Is this to say that Venezuela is enjoying exceptional growth and that its positive repercussions are being felt by its people? Far from it in\u2026","rel":"","context":"In "capitalism"","block_context":{"text":"capitalism","link":"https:\/\/michelsanti.fr\/en\/category\/capitalism"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19098,"url":"https:\/\/michelsanti.fr\/en\/carlos-ghosn-2\/the-cabal-against-carlos-ghosn","url_meta":{"origin":30530,"position":5},"title":"The cabal against Carlos Ghosn","author":"Michel Santi","date":"November 21, 2018","format":false,"excerpt":"Carlos Ghosn's deposition? This is in no way a legal matter, and even less so a penal one: it's rather a palatial revolution. Nissan is profiting from crime, mainly its CEO Hiroto Saikawa, who struggled to hide his joy at dethroning Ghosn after nineteen years of sole reign over not\u2026","rel":"","context":"In "Carlos Ghosn"","block_context":{"text":"Carlos Ghosn","link":"https:\/\/michelsanti.fr\/en\/category\/carlos-ghosn-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/11\/carlos_ghosn-300x169.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/30530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=30530"}],"version-history":[{"count":6,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/30530\/revisions"}],"predecessor-version":[{"id":30543,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/30530\/revisions\/30543"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/30535"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=30530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=30530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=30530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}