Donald Trump¡¯s stunning election victory may complicate Prime Minister Shinzo Abe¡¯s efforts to revive Japan¡¯s economy, underscoring the vulnerability of Abenomics to fluctuations in the yen and export profits.
Trump¡¯s win all but doomed the Trans-Pacific Partnership trade agreement, which could have boosted Japanese manufacturers. Abe was counting on the pact as a catalyst for long-promised structural reforms in protected sectors of the economy. The premier swiftly scheduled a trip next week to meet with the president-elect in New York on Nov. 17.
¡°The U.S. turning inward and turning protectionist is quite a blow to the Japanese economy ¡ª I think Mr. Abe wants to talk to Mr. Trump to continue good economic relations and free trade between the two countries,¡± Eisuke Sakakibara, a former head of currency policy at the Finance Ministry, said in an interview with Bloomberg Television.
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