KRC:Japan's economic and social restructuring plans need to be closely monitored

BANGKOK, October 25 (TNA) - The Kasikorn Research Center (KRC) says that Japan's new economic and social restructuring plans, expected to be soon implemented by Prime Minister Shinzo Abe after his victory in the latest general election last Sunday, need to be closely monitored internationally, including by the Thai government. The Bangkok-based KRC pointed out on Wednesday that the international community is following up the direction of Abe's new economic and social reform plans, aimed to enhance Japan's labor productivity and revive Tokyo's status as a world leading innovative economy based on the Japanese Society 5.0 policy amid several social restraints domestically with long-term solution. According to the leading private research house, Japan's more proactive stance on bilateral trade talks are suggested to uphold Tokyo's leading role in the international trade system, after the existing economic policies introduced by the Abe-led Cabinet since a previous general election in late 2012, dubbed Abenomics in which the so-called "three arrows" of monetary easing, fiscal stimulus and structural reforms, have not yet solved economic problems in Japan on the sustainable basis. The leading Thai private research center foresaw, however, that the implementation of the existing financial and fiscal policies by Abe's Liberal Democratic Party (LDP) should be carried on with no added measures to prevent negative impacts on the Japanese economy in the future. Wednesday's KRC public statement followed Abe and his LDP's landslide victory in the new general election, organized on October 22, for the ruling party's campaigned policies on upholding national security, especially against North Korea's threat and through the revision of Japan’s post WWII-pacifist Constitution. (TNA)