Economics
$3.5 Trillion Cash Injection Changes Little for Ordinary Japanese
- Flood of stimulus hasn’t uprooted ‘deflationary mindset’
- Japanese describe modest gains and ongoing struggles
The Bank of Japan headquarters in Tokyo, Japan.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
It’s been the most radical cash injection in history -- a staggering $3.5 trillion, pumped into Japan’s economy over more than five years to slay deflation and kick growth into higher gear.
That’s still not enough to save Tomoaki Nagai’s metal parts factory near Osaka and it’s a similar story throughout the world’s third-largest economy.