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Paul Krugman: Japan the Model

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These days we are, in economic terms, all Japanese -- which is why the ongoing economic experiment in the country that started it all is so important, not just for Japan, but for the world. The really remarkable thing about "Abenomics" -- the sharp turn toward monetary and fiscal stimulus adopted by the government of Prime Minster Shinzo Abe -- is that nobody else in the advanced world is trying anything similar. In fact, the Western world seems overtaken by economic defeatism.

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