The best political slogans are simple and direct: Think ¡°It¡¯s the economy, stupid,¡± or former U.K. leader Tony Blair¡¯s ¡°Tough on crime, tough on the causes of crime.¡±
Japanese politicians don¡¯t typically excel at these soundbites. That¡¯s what made former Japanese Prime Minister Shinzo Abe¡¯s ¡°Three Arrows¡± of Abenomics such a standout ¡ª using a simple folk tale, it explained a complex recipe of monetary, fiscal and supply-side solutions intended to revive Japan¡¯s economy, resonating with investors both at home and abroad.
Fumio Kishida, the current Japanese leader, recently launched what he called the ¡°Grand Design¡± for his ¡°New Form of Capitalism,¡± a doctrine he has promoted since becoming the country¡¯s leader in October. The draft policy outline is many things, but simple and direct isn¡¯t among them. Watered down, muddled and both confusing and a bit confused, Kishida¡¯s flagship economic policy could learn a lot from the Three Arrows.
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