In addition to the issues of constitutional revision, nuclear power and Japan's entry into the Trans-Pacific Partnership free-trade scheme, voters should also carefully consider the Abe administration's economic policy before casting their ballots in the upcoming Upper House election because it will also greatly affect their lives.
Although "Abenomics" has helped exported-oriented businesses through a cheaper yen and improved the performance of the construction industry through large expenditure for public-works projects, people need to carefully consider whether it will really improve their economic situations.
The cheaper yen, caused by the Bank of Japan's massive monetary easing, is negatively impacting households in the form of higher prices for food, gas and electricity. The BOJ's policy has already caused another side effect that is contrary to its expectations: the rise of long-term interest rates.