Today's news is about Shinzo Abe and his Abenomics. Have a look at the Abenomics Word List and original YouTube clip. The transcript and links to the articles for today will be up tomorrow. The transcripts will be on this blog till the end of the month, and which time they will go up in the Vocab Voyage Members' Forum. Find out how to get in on that at www.vocab-voyage.com
Good morning. Welcome back to Vocab Voyage. I haven't done a video for a couple of
days. I've been very busy. I was going to do it yesterday, but someone called in sick at
work and I had to run off. Sorry.
Here we go today, Abenomics. Is Abenomics in fact saving Japan, keeping Japan afloat?
GDP has gone up. Not as much as expected, but it has gone up all the same. From October to December 0.3%. So it's gone up, but by so little some people wonder if it's sustainable.
Spendings up, but by not enough. They are hoping this will be fixed by a 'mechanism to
raise salaries', which is already in effect. Apparently there's some mechanism to make
people earn more money so that we spend more.
Analysts believe that the future of Japan is in the third arrow of Abenomics. Structural
reform. Changing the way everything is done in Japan. After two years we're still seeing
promise of that, but no reality, so everyone's waiting on that third arrow of structural reform. Changing the way Japanese business and government work.
Next story, Shinzo Abe has been playing golf, and a lot of golf, with the big boys of Japanesebusiness. He started off by playing golf with the CEO of Canon, who is also the Chairman of the Keidanren Business Association. He's playing golf with them, saying 'Pay your staff
more!'. He went on to hit around with the CEO of Fujifilm, Iida Sangyo (a home building
company), 7 & i (Japan's biggest retailer), Mitsubishi Heavy Industries, DaiIchi Life
Insurance; saying to them, 'Pay your staff more!'
What I think is that this is going to take a long time to take effect. Because they pay their
staff more, who do they pay more? The pay the seishain more. They pay the high staff
more, and what more can they spend? You've got your staff at Seven Eleven and these
contracted, non full time staff who are getting paid 900 yen an hour. That's where they need to start paying more, and I don't see it happening for a long time, so I'm not optimistic about
that; but rant over.
Finally, Abe, 50% of the country say Abe's doing a good job. They like what he did with the
hostage crisis, the tragic situation with Gotosan. The whole ISIS thing is still a bit of a
A bit of a survey was carried out that 86% of people are worried about ISIS, because they
said they were going to target Japanese people with terrorist acts. 86% of people are
worried, and 14% say they're not worried.
What else is coming up, from the same article? Seventy years since the end of WW2.
Obviously there's going to be some commemoration. What is Shinzo Abe going to say?
Is he going to go to Yasukuni Jinja?
Maruyama. Koizumi. Two former Prime Ministers. When they did their speeches at these
commemoration things, they used the words 'colonial rule and aggression', 'deep remorse', and 'heartfelt apology'. The feeling is that Shinzo Abe won't say those words, because he's
a bit of a proud man. 52% of people say he should say them (the words), 31% say it is
unnecessary. I would be very interested about that (the word I forgot was 'survery')
interview. Who did they interview? Who did they ask? We're they old people? We're they
young people. Who? Who? Who? Who?
I'll put the transcript up tomorrow. Remember transcripts are free till the end of the month,
then members only.