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The following figure [Figure 1] depicts the real GDP growth rate in Japan in the last 25 years. Figure 1 Shinzo Abe, who served as
The following figure [Figure 1] depicts the real GDP growth rate in Japan in the last 25 years. Figure 1 Shinzo Abe, who served as Prime Minister of Japan from 2006 to 2007 and again from 2012-2020, but was tragically assassinated on 8 July 2022, brought in a series economic strategy to revive the Japanese economy after a decade of stagnation - dubbed as the Abenomics. With a mixed success though, Abenomics has significantly reshaped the social and economic profiles in Japan. For example, female labour force participation rate has been rapidly increasing since 2012 (See Figure 2) Figure 2 A. Identify TWO (2) issues which might have contributed to the slowing-down of the Japanese economy after 1990-1991. Apart from the 2008-2009 Global Financial Crisis and the 2020-2021COVD Pandemic, comment on the current status of the Japanese economy, in terms of GDP growth rate. [5 marks] B. Which policy initiative of Abenomics has contributed to the increasing female labour force participation rate in Japan? Do you believe this policy imitative is well targeted policy to alleviate the issues identified in Part A of this question? Please explain your answer. [5 marks]
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