Lost Decade (Japan) Decade. However, several Japanese policymakers have attempted reforms to address the malaise in the Japanese economy. After Shinzo Abe was elected as Japanese prime minister in December 2012, Abe introduced a reform program known as Abenomics which sought to address many of the issues raised by Japan's Lost Decade. His "three arrows" of reform intend to address Japan's chronically low inflation, decreasing worker productivity relative to other developed nations, and demographic issues raised by an aging population. Investor response to the announced reform was strong, and the Nikkei 225 rallied to 20,000 in May 2015 from a low of around
Japan–South Korea relations GSOMIA is automatically extended unless either of countries wants it to be demolished. In August 2017, South Korea and Japan decided to renew the agreement. Shinzo Abe, to increase its military profile in the region. Since Lee Myung-bak's visit to the Liancourt Rocks and repeated demands for the emperor to apologize again in 2012, the Japanese public's image of South Korea deteriorated significantly. Japanese tourists to South Korea declined by half from 3.5 million in 2012 to 1.8 million in 2015 while South Korean tourists doubled from 2 million in 2012 to 4 million in 2015. The Diplomatic Blue Book