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The Diplomat (3 May 2023)

Dylan Harris

The Kishida administration is pursuing a more inclusive “stakeholder capitalism,” but aside from its grand vision it doesn’t have many details to offer.

Prime Minister Kishida Fumio’s new capitalism seeks to supplant the long-standing neoliberal policies that have dominated Japan since the 1980s, including the country’s more recent shift to “shareholder capitalism.” Instead, the Kishida administration is pursuing a more inclusive  “stakeholder capitalism” and aims to stimulate a “virtuous cycle of growth and distribution” to increase wages nationwide and revitalize a slowly eroding middle class.

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