Japan's stock market has surged and luxury cars are selling fast in Tokyo after eight years of economic stimulus under Abenomics, but that new wealth is concentrated in a small slice of society rather than broadly distributed, data show.
Addressing that divide has become a high priority for new prime minister Fumio Kishida, who promised to tackle income disparity made worse by the pandemic. But he has offered few clues as to how he will do so.
Kimie Kobayashi, 55, who works at a childcare facility in Tokyo, says her wages haven't risen for four years. She said many who work in the industry are resigned to the fact that salaries rarely increase. Japan's poverty rate is the second-highest among G7 nations and the ninth-highest among OECD countries, according to the organisation's survey, based on data available up to 2020.
"Abenomics brought us investors huge profits as money-pumping pushed up prices of financial securities," said Fujisaki, 34, a father of two who plans to build a 200 million yen house in Tokyo next year. Alfa Romeo sales in April-September more than doubled from year-before levels. Sales of other import brands like Ferrari, Jaguar and Maserati also increased, industry data showed.
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On the road towards renewable energy, Japan is betting on hydrogenResource-poor, Japan began research on hydrogen after the 1970s energy crunch. The 2011 Fukushima nuclear plant accident and public anti-nuclear sentiment accelerated interest in hydrogen and other clean energies.
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Japan votes in national election, 1st key test for KishidaJapanese voters are casting ballots in national elections Sunday, a first big test for Prime Minister Fumio Kishida to determine if he has a large enough mandate to tackle a coronavirus-battered economy, a fast-aging and dwindling population and security challenges from China and North Korea. Up for grabs are 465 seats in the lower house, the more powerful of the two-chamber Japanese Diet, or parliament. Kishida's governing Liberal Democratic Party is expected to lose some seats from pre-election levels, but maintain a comfortable majority together with its junior coalition partner Komeito.
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Japan votes in national election, 1st key test for KishidaTOKYO (AP) — Japanese voters are casting ballots in national elections Sunday, a first big test for Prime Minister Fumio Kishida to determine if he has a large enough mandate to tackle a coronavirus-battered economy, a fast-aging and dwindling population and security challenges from China and North Korea.
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Japan startup targets supercar users with $700,000 hoverbikeWATCH: Tokyo-based drone startup A.L.I. Technologies unveiled a black and red hoverbike that consists of a motorcycle-like body on top of propellers. The machine that costs $680,000 rests on landing skids when stationary
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