Japan’s big-spending Takaichinomics is ten years out of date

Author Summary

The Economist critiques Japan's expansive fiscal policy, dubbed Takaichinomics, as outdated amid rising inflation, a weakening yen, and climbing bond yields that form a harmful mix. (148 characters)

Core Argument

Japan's big-spending approach, known as Takaichinomics, feels ten years behind the times. In an era of elevated inflation, the depreciating yen combined with surging bond yields creates a toxic economic cocktail.

In a time of higher inflation, a falling yen and rising bond yields make a noxious blend | Leaders.

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The Economist The Economist — 2025-11-27

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