Abenomics is not a lost cause yet

Despite a raft of poor data and Shinzo Abe's waning popularity, Japan is close to getting the reforms it so desperately needs.

Have no fear, there's hope for Japan yet. A string of bad data over the past week -- industrial production is shrinking, consumer spending is sliding, Prime Minister Shinzo Abe's popularity is crumbling -- raise the prospect that Abe's eponymous reform program is grinding to a halt. Look a little closer, however, and it seems that Japan might just be on the verge of getting some of the reform it needs after all, whether Abe realizes it or not.

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