Japan’s effort to get its economy moving entered difficult terrain last week. Bond yields rose and stock prices fell. Some promptly declared “Abenomics” – the reforms launched by prime minister Shinzo Abe – a failure. This is ludicrous. Abenomics may fail. But it will not be because bond yields rise or stock markets wobble. On the contrary, bond yields must rise if Japan recovers and the stock market will always wobble. The much-needed Japanese recovery programme will run risks. But last week told us little about them.
上周，日本提振manbetx20客户端下载 的努力遇到了挫折。债券收益率上涨，股市下跌。一些人当即宣称“安倍manbetx20客户端下载 学”(Abenomics)（日本首相安倍晋三发起的改革）失败。这很可笑。“安倍manbetx20客户端下载 学”或许会失败，但不会是因为债券收益率升高或者股市震荡。相反，如果日本复苏，债券收益率肯定会上升，而股市震荡则是正常现象。这项非常必要的日本复苏计划会面临风险，但上周这种迹象并不明显。
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