Arrow
in sentence
186 examples of Arrow in a sentence
In fact, it still struggles with imbalances today, owing to its inability or unwillingness to embrace badly needed structural reforms – the so-called “third arrow” of Prime Minister Shinzo Abe’s economic recovery strategy, known as “Abenomics.”
The real challenge will be in designing the third arrow, what Abe refers to as “growth.”
But the third and most important
arrow
– structural reform – has so far had little impact.
For Japan, the TPP is vital to achieve economic liberalization – the third
arrow
of “Abenomics,” the government’s program to revitalize the country’s ailing economy.
One day, Motonari asked each of them to snap an arrow, which they did without difficulty.
The problem, from the start, was the third
arrow.
How about the third arrow, a set of policies to promote private investment so that productivity growth sustains Japan’s long-term recovery?
Moreover, after a series of scandals cost Abe some newly appointed ministers, some fear that he may no longer be willing to follow through on the liberalizing structural reforms – the so-called “third arrow” of Abenomics – that sustained economic recovery requires.
In Japan, the policy uncertainty concerns whether the third
arrow
of Abenomics – structural reforms and trade liberalization to boost potential growth – will be implemented, and whether the expected rise in the consumption tax in 2014 will choke economic recovery.
The second
arrow
of Abenomics – monetary easing – intensified these effects.
When demand begins to exceed supply, demand-side stimulus policies will become increasingly ineffective, and it will be time to launch the third
arrow
of Abenomics: growth-enhancing structural reforms.
But the focus on public policy has left a “fourth arrow” – the private sector – untouched and seemingly ignored.
In Japan, long-standing structural problems, such as aging, labor-market rigidities, and a generalized productivity malaise, can be addressed only through the so-called “third arrow” of Prime Minister Shinzo Abe’s reform agenda, which remains woefully incomplete.
That is why it is time for Japan’s leaders to shift their focus from the demand-focused first and second arrows to the supply-oriented third arrow: a new growth strategy.
The third
arrow
is not a traditional industrial-policy-based approach.
His proposals, he argues, are not an additional
arrow
in the quiver, but replacements for “traditional Keynesian policies…[that] increase budget deficits and national debt.”
Now the third
arrow
of “Abenomics” – structural reforms – together with the start of long-term fiscal consolidation, could lead to debt stabilization (though the economic impact of the coming consumption-tax hike is uncertain).
According to legend, Mori instructed each of his three sons to snap an
arrow
in half.
This implies that, while the first two arrows are helping to improve Japan’s actual growth path, the third
arrow
has yet to do much for potential growth.
In fact, since Abe’s first
arrow
took flight, Japan’s stock market has soared with it, recording an unprecedented 40% annual gain, while the yen has depreciated against the dollar by 20%, boosting Japanese firms’ export competitiveness.
The second
arrow
entails a sharp increase in short-term fiscal expenditure, especially investment in infrastructure projects.
On the assumption that faster growth will neutralize any threat to debt sustainability, the second
arrow
receives a B.When the first and second arrows lift actual growth above potential growth, monetary expansion will no longer be able to produce substantial GDP or employment gains.
That is when the third arrow, which aims to boost Japan’s potential growth through structural change (including increased private investment, technological innovation, improved trade links, and reformed corporate-tax policy), will become far more important.
In this context, the third
arrow
of Abenomics cannot yet be fairly assessed.
Here, then, is Draghinomics’ second arrow: to reduce the drag on growth from fiscal consolidation while maintaining lower deficits and greater debt sustainability.
In Japan, though QQE and short-term fiscal stimulus boosted growth and inflation in the short run, slow progress on the third
arrow
of structural reforms, along with the effects of the current fiscal consolidation, are now taking a toll on growth.
Probably, but the extent to which it serves the cause of sustained growth and higher inflation depends on the so-called “third arrow” of structural reform, which has yet to hit real targets.
The third
arrow
of Abenomics – structural policies aimed at boosting potential growth – has barely been launched.
Meanwhile, the third
arrow
of structural reforms – especially tax, education, and immigration reforms – is nowhere near its target.
Here, Japan has been tremendously successful, creating more than 2.7 million jobs since the first
arrow
of Abenomics was launched.
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