Japan confronts rising inequality after Abenomics

Published by
Reuters

By Kantaro Komiya and Leika Kihara TOKYO (Reuters) – 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. “It’s like everyone has become poor,” said Masanori Aoki, 62, who owns a small coffee shop in a wor…

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