The best political slogans are simple and direct: Think "It’s the economy, stupid,” or former U.K. leader Tony Blair’s "Tough on crime, tough on the causes of crime.”
Japanese politicians don’t typically excel at these soundbites. That’s what made former Japanese Prime Minister Shinzo Abe’s "Three Arrows” of Abenomics such a standout — using a simple folk tale, it explained a complex recipe of monetary, fiscal and supply-side solutions intended to revive Japan’s economy, resonating with investors both at home and abroad.
Fumio Kishida, the current Japanese leader, recently launched what he called the "Grand Design” for his "New Form of Capitalism,” a doctrine he has promoted since becoming the country’s leader in October. The draft policy outline is many things, but simple and direct isn’t among them. Watered down, muddled and both confusing and a bit confused, Kishida’s flagship economic policy could learn a lot from the Three Arrows.