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–Russia relations leaders decided to sign off on joint projects in five areas — aquaculture, greenhouse farming, tourism, wind power and waste reduction. At the 2018 Thirteenth East Asia Summit in Singapore, Shinzo Abe followed up on a proposal from Vladimir Putin to sign a peace treaty without preconditions by the end of the year. He said that the leaders would seek a peace treaty to the terms of the 1956 Soviet–Japanese Joint Declaration. The declaration gave Japan the Habomai islet group and Shikotan while the Soviet Union claimed the remaining islands, but the United States did not allow the 1956 treaty.