January 26th, 2014
12:30 AM ET

Shinzo Abe on the third arrow of "Abenomics"

Japanese Prime Minister Shinzo Abe explains what is behind “Abenomics” and what the so-called third arrow of these reforms mean. Watch the full interview on "Fareed Zakaria GPS" this Sunday at 10 a.m. and 1 p.m. ET on CNN.

What is important about the third arrow, structural reform, is to convince those who resist the steps I am taking and to make them realize that what I have been doing is correct, and by so doing, to engage in structural reform.

Last autumn, the Diet (Parliament) decided many things. In terms of agriculture, I made the decision to end the "rice production adjustment," which had continued for 40 years.

I also passed a law to make it easy to dramatically consolidate farmland, to make it easy to do that.  And on the medical front, I decided that selling medicines over the Internet would be made possible. And I amended the pharmaceutical laws, to make it possible for companies to continue to develop regenerative medicine, creating opportunities in that area.

In addition, policy amendments in such areas as medicine, nursing and sports instruction for health maintenance have to be made separately by different entities. I ordered…comprehensive change in this regulation.

And I hope that this will create opportunities for new investments and businesses in the medical sector, which in turn, will lead to the increased health of our citizens.

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Topics: Economy • GPS Show • Japan

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soundoff (7 Responses)
  1. NO Abenomics

    We need Reaganomics and Bushonomics, but NO Abenomics. It is never good to look at J.a.p.a.n – other then no imports from there.

    January 26, 2014 at 8:32 am |
    • Please

      Please no Reaganomics, and DEFINITELY no Bushenomics.

      January 27, 2014 at 11:21 am |
  2. j. von hettlingen

    The J a p a n e s e population is believed to have the longest life expectancy. What does Abe mean "will lead to the increased health of our citizens". What he is trying to tackle is nothing complicated. He should tackle issues, that are monumental. like making life easier for women, with or without children, to work.
    This is the reason behind the other major prong of the third arrow's structural reforms – to increase female labour force participation. To counteract some of the demographic challenges, adding women to the workforce can raise the amount of productive assets in the economy. J a p a n's female labour force participation rate is among the lowest for an advanced economy.

    January 26, 2014 at 11:55 am |
    • peterdavid12345

      he will :P. I have read some of the site like months ago and he said something about making a child care so that more women can go to work etc etc XD

      February 25, 2014 at 12:06 am |
  3. chrissy

    I agree @ Please! This country wouldnt survive another round of that!

    January 27, 2014 at 11:36 am |
  4. No, no, no, ...

    no *j a p a n e s e* ..., we can not forget!

    January 28, 2014 at 5:04 am |

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