The businessman and activist who helped inspire Prime Minister Fumio Kishida’s "new capitalism” policy framework for distributing the fruits of growth more widely, also wants public spending ramped up to bolster growth.
According to George Hara, author of a 2009 book also titled "New Capitalism,” the next step after initial efforts to better distribute wealth should be government spending. Speaking in an interview this week, he said he expected the idea to gain traction with Kishida.
"He’ll start to discuss and talk about it in the second half of the year,” Hara said by video link from his home in Hong Kong. Spending on disaster prevention, including fixing aging infrastructure such as bridges and tunnels was needed, he added.