The assassination of Japan's former Prime Minister Shinzo Abe shocked the world. Japan's longest-serving modern leader and the country's best-known politician was killed on Friday (July 8) by a man when Abe was delivering a campaign speech in Nara.&nbsp;

The head of police of the area where the leader was assassinated admitted on Saturday that there were "undeniable" flaws in security for the former prime minister. He has pledged an investigation. The police chief said he "take[s] responsibility" for the security failure that resulted in Abe's demise.&nbsp;

Nara Prefectural Police Chief Tomoaki Onizuka told a news conference that Abe's security personnel followed Onizuka's approved plan.&nbsp;

He said, "After the first report of the incident came at 11:30 a.m., and the situation was revealed, it was the height of the guilt and regret I've felt in my 27 years in law enforcement. I feel the weight of my responsibility."&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/shinzo-abes-killing-tetsuya-yamagami-initially-planned-to-attack-religious-leader-say-police-495852">Shinzo Abe’s killing: Tetsuya Yamagami initially planned to attack religious leader, say Police</a>&nbsp;

WATCH |&nbsp;Japanese mourn ex-PM Abe day after the horrific shooting

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Japan is known for its strict gun laws and it is understood that the security at local campaign events in Japan can be relatively relaxed. But considering Abe's profile, people around the world raised questions about whether measures to protect him were too lax.&nbsp;

Onizuka further said, "The urgent matter is for us to conduct a thorough investigation to clarify what happened."&nbsp;

His voice was shaking with emotion when he said, "As the regional police chief responsible for the safety and security of the region, I took necessary steps and built structures for security and guarding."&nbsp;

ALSO READ&nbsp;| <a href="https://www.wionews.com/world/chinas-xi-deeply-regrets-death-of-japans-shinzo-abe-495800">China's Xi 'deeply regrets' death of Japan's Shinzo Abe</a>&nbsp;

Suspect arrested

The officials arrested a 41-year-old man immediately after Abe was shot at close range. The authorities revealed that the suspect had used a homemade gun.&nbsp;

The suspect told investigators he had also visited other spots where Abe had made campaign appearances, including in the city of Okayama, more than 200 km (120 miles) from Nara, media reported.

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The assassination of Japan's former Prime Minister Shinzo Abe shocked the world. Japan's longest-serving modern leader and the country's best-known politician was killed on Friday (July 8) by a man when Abe was delivering a campaign speech in Nara.

The assassination of Japan's former Prime Minister Shinzo Abe shocked the world. Japan's longest-serving modern leader and the country's best-known politician was killed on Friday (July 8) by a man when Abe was delivering a campaign speech in Nara. The head of police of the area where the leader was assassinated admitted on Saturday that there were "undeniable" flaws in security for the former prime minister. He has pledged an investigation. The police chief said he "take[s] responsibility" for the security failure that resulted in Abe's demise. Nara Prefectural Police Chief Tomoaki Onizuka told a news conference that Abe's security personnel followed Onizuka's approved plan. He said, "After the first report of the incident came at 11:30 a.m., and the situation was revealed, it was the height of the guilt and regret I've felt in my 27 years in law enforcement. I feel the weight of my responsibility." ALSO READ | Shinzo Abe’s killing: Tetsuya Yamagami initially planned to attack religious leader, say Police WATCH | Japanese mourn ex-PM Abe day after the horrific shooting × Japan is known for its strict gun laws and it is understood that the security at local campaign events in Japan can be relatively relaxed. But considering Abe's profile, people around the world raised questions about whether measures to protect him were too lax. Onizuka further said, "The urgent matter is for us to conduct a thorough investigation to clarify what happened." His voice was shaking with emotion when he said, "As the regional police chief responsible for the safety and security of the region, I took necessary steps and built structures for security and guarding." ALSO READ | China's Xi 'deeply regrets' death of Japan's Shinzo Abe Suspect arrested The officials arrested a 41-year-old man immediately after Abe was shot at close range. The authorities revealed that the suspect had used a homemade gun. The suspect told investigators he had also visited other spots where Abe had made campaign appearances, including in the city of Okayama, more than 200 km (120 miles) from Nara, media reported. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Shinzo Abe's assassination: Local police say there were 'undeniable flaws' in security

The world is in shock after the terrible news about Japan's former prime minister Shinzo Abe's demise was circulated Friday morning. Initially, the Japanese government confirmed that Abe had been shot in the western region of Nara.

The world is in shock after the terrible news about Japan's former prime minister Shinzo Abe's demise was circulated Friday morning. Initially, the Japanese government confirmed that Abe had been shot in the western region of Nara. Later, public broadcaster NHK and Jiji news agencies confirmed that Abe is dead. World leaders and people around the world have reacted with shock and concern to the 'despicable' attack on Abe, however, it is learnt that some Chinese nationalists celebrated the assassination bid. ALSO READ | Ex-Japan PM shot, feared dead; gunman was 'dissatisfied' with Shinzo Abe Why Chinese hail the attacker of Shinzo Abe? Moments after Abe was shot during a campaign speech in western Japan, some Chinese nationalists celebrated the incident on Weibo, which is China's Twitter-like microblogging site. They hailed the attacker as a 'hero' and even sent death wishes to Abe. A verified Twitter handle, @badiucao, claimed: "Chinese nationalists on Weibo have began to celebrate that Japan’s ex PM Abe is shot during campaign today. they call the attacker “hero” and send death wish to Abe". ALSO READ | Who is Shinzo Abe, the former PM of Japan? Why was he shot and what is the motive? Disclaimer: WION cannot independently verify the authenticity of photos and videos shared on social media. Here is the post: Chinese nationalists on Weibo have began to celebrate that Japan’s ex PM Abe is shot during campaign today. they call the attacker “hero” and send death wish to Abe photo credit @MachineGun____ #TheGreatTranslationMovement #大翻译运动 pic.twitter.com/K4cxtQd0pi — 巴丢草 Badiucao (@badiucao) July 8, 2022 × #Chinese #china react to #安倍晋三 shooting with joy and celebrations, note that the gold name is a chinese bili bili tuber with 50 thousands followers pic.twitter.com/gB9KJuIlpj — . (@sorakashi17) July 8, 2022 × ShinzoAbe getting shot is a reason to have discount in China. What a celebration day in China?#ShinzoAbe#安倍晋三#TheGreatTranslationMovement #大翻译运动#Japanese #大翻訳運動#Japan pic.twitter.com/ADK81u8Vo5 — The Great Translation Movement 大翻译运动官方推号 (@TGTM_Official) July 8, 2022 × 2. from WeChat it says“ i hope it is the current Japanese PM （got shot）… and Korean one too” pic.twitter.com/DMpJlDdIa0 — 巴丢草 Badiucao (@badiucao) July 8, 2022 × Hirokazu Matsuno, the chief cabinet secretary told reporters: "Former prime minister Abe was shot at around 11:30 am in Nara. One man, believed to be the shooter, has been taken into custody. The condition of former prime minister Abe is currently unknown." The local police said that he was shot twice, with the second shot hitting him in the back, causing him to fall to the ground. The accused has been identified as Yamagami Tetsuya, who is a resident of Nara city. Local sources had told local media that a gun seized at the scene appeared to be handmade. Abe was transferred by medevac to Nara Medical University Hospital in Kashihara city. PM Modi 'deeply distressed' Indian Prime Minister Narendra Modi said Friday he was "deeply distressed" by the shooting of Shinzo Abe, describing the former Japanese premier as a "dear friend". PM Modi Modi wrote on Twitter: "Deeply distressed by the attack on my dear friend Abe. Our thoughts and prayers are with him, his family, and the people of Japan." British Prime Minister Boris Johnson said that he was "appalled and saddened" by the shooting of the former Japanese premier. Johnson tweeted, "Utterly appalled and saddened to hear about the despicable attack on Shinzo Abe." Deeply distressed by the attack on my dear friend Abe Shinzo. Our thoughts and prayers are with him, his family, and the people of Japan. — Narendra Modi (@narendramodi) July 8, 2022 × WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Shinzo Abe shot dead: Chinese hail attacker as 'hero' and celebrate the shocking attack? Know here why

With nine years in office, Shinzo Abe was the longest-serving Prime Minister of Japan – from 2006-07 and again from 2012-20. His second stint as PM was marked by increasing cooperation with India in several fields. And as the world is left shocked by the attack on Abe, here’s a look at how he shaped a new innings with New Delhi.&nbsp;

Narendra Modi visited Japan in September 2014 – just a couple of months after becoming PM. Modi and Abe agreed to upgrade the bilateral relationship to “Special Strategic and Global Partnership”. The new relationship encompassed a wide range of issues – from civilian nuclear energy to maritime security, bullet trains to quality infrastructure, Act East policy to Indo-Pacific strategy.&nbsp;

The two countries signed a nuclear deal in 2016 that turned out to be key to India’s deals with US and French nuclear firms, which were either owned by or had stakes in Japanese firms. It was largely successful because of Abe who ignored opposition within Japan to sign the deal with a non-NPT member.&nbsp;

India and Japan also have an agreement that allows their navies to use each other’s ports. The two countries, along with Australia, have also pledged to boost supply chains in the Indo-Pacific, in a move widely seen as guarding against China.&nbsp;

IN PICS |&nbsp;<a href="https://www.wionews.com/photos/shinzo-abe-a-look-at-japans-longest-serving-prime-minister-495470#the-beginning-of-abes-political-career-495457">Shinzo Abe assassinated: A look at Japan's longest serving prime minister's career</a>&nbsp;&nbsp;

On the economic side, Japan spent a record 522.4 billion yen (US$4.9 billion) in India’s development projects in 2018-19, including the high-speed rail between Mumbai and Ahmedabad; and industrial corridors between Delhi and Mumbai and Chennai and Bengaluru.&nbsp;

Japan is funding 80 per cent of the Mumbai-Ahmedabad bullet train project through a soft loan of Rs 79,000 crore at an interest rate of 0.1 per cent, with a tenure stretching over 50 years and a moratorium period of 15 years.&nbsp;

The Delhi-Mumbai Industrial corridor project attracts $4.5bn worth of investment from Japan International Cooperation Agency (JICA) and Japan Bank for International Cooperation (JBIC). This investment has been made in the first phase of the project and Japan holds a 26 per cent stake in the same.&nbsp;

Japan has also invested $2 billion in improving infrastructure in India’s Northeast. Among others, Japan is involved in the Guwahati Water Supply Project, Guwahati Sewage Project, North-East Road Network Connectivity Improvement Project, Project for Renovation and Modernisation of Umiam-Umtru Stage III Hydroelectric Power Station (Meghalaya), Sustainable Catchment Forest Management Project (Tripura), and Project on Capacity Enhancement for Sustainable Agriculture and Irrigation Development (Mizoram).&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/who-shot-japans-former-prime-minister-shinzo-abe-what-was-the-motive-495459">Who is Shinzo Abe, the former PM of Japan? Why was he shot dead and what was the motive?</a>&nbsp;

Japan has an investment target of five trillion yen over the next five years in India – the major areas being manufacturing, climate change and infrastructure.&nbsp;

Japan is the fifth largest investor in India with cumulative FDI inflows of $36bn during April 2000 and March 2022, contributing 6.28 per cent to India’s total FDI inflows in this period. At present, some 1,455 Japanese companies are operating in India.&nbsp;

India’s total trade with Japan has increased to $15.3bn in 2020-21 with exports valued at $4.4bn and imports at $10.9bn, making it India’s 13th largest trade partner.&nbsp;

India’s imports from Japan showed a growth of almost 73 per cent in just 13 years, reaching $10.9bn in 2020-21 from $6.3bn in 2007-08. Key imports from Japan include nuclear reactors, electrical machinery and equipment, copper, plastic, inorganic chemicals, rare earth metals and compounds of precious metals.&nbsp;

India’s exports showed a growth of 14.2 per cent in 13 years, reaching $4.4bn in 2020-21 from $3.85bn in 2007-08. Key exports to Japan include mineral fuels and mineral oils, organic chemicals, fish and other aquatic invertebrates, and natural or cultured pearls.&nbsp;

As the 5th largest investor, Japan has contributed $36.2bn in cumulative investments since 2000, especially in automobiles, Electronics System Design &amp; Manufacturing (ESDM), medical devices, consumer goods, textiles, food processing and chemicals. Some prominent Japanese firms in India include Maruti, Toyota, Mitsubishi, Honda, Hitachi, Sony and Panasonic, which employ lakhs of Indian youths.&nbsp;

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With nine years in office, Shinzo Abe was the longest-serving Prime Minister of Japan – from 2006-07 and again from 2012-20. His second stint as PM was marked by increasing cooperation with India in several fields.

With nine years in office, Shinzo Abe was the longest-serving Prime Minister of Japan – from 2006-07 and again from 2012-20. His second stint as PM was marked by increasing cooperation with India in several fields. And as the world is left shocked by the attack on Abe, here’s a look at how he shaped a new innings with New Delhi. Narendra Modi visited Japan in September 2014 – just a couple of months after becoming PM. Modi and Abe agreed to upgrade the bilateral relationship to “Special Strategic and Global Partnership”. The new relationship encompassed a wide range of issues – from civilian nuclear energy to maritime security, bullet trains to quality infrastructure, Act East policy to Indo-Pacific strategy. The two countries signed a nuclear deal in 2016 that turned out to be key to India’s deals with US and French nuclear firms, which were either owned by or had stakes in Japanese firms. It was largely successful because of Abe who ignored opposition within Japan to sign the deal with a non-NPT member. India and Japan also have an agreement that allows their navies to use each other’s ports. The two countries, along with Australia, have also pledged to boost supply chains in the Indo-Pacific, in a move widely seen as guarding against China. IN PICS | Shinzo Abe assassinated: A look at Japan's longest serving prime minister's career On the economic side, Japan spent a record 522.4 billion yen (US$4.9 billion) in India’s development projects in 2018-19, including the high-speed rail between Mumbai and Ahmedabad; and industrial corridors between Delhi and Mumbai and Chennai and Bengaluru. Japan is funding 80 per cent of the Mumbai-Ahmedabad bullet train project through a soft loan of Rs 79,000 crore at an interest rate of 0.1 per cent, with a tenure stretching over 50 years and a moratorium period of 15 years. The Delhi-Mumbai Industrial corridor project attracts $4.5bn worth of investment from Japan International Cooperation Agency (JICA) and Japan Bank for International Cooperation (JBIC). This investment has been made in the first phase of the project and Japan holds a 26 per cent stake in the same. Japan has also invested $2 billion in improving infrastructure in India’s Northeast. Among others, Japan is involved in the Guwahati Water Supply Project, Guwahati Sewage Project, North-East Road Network Connectivity Improvement Project, Project for Renovation and Modernisation of Umiam-Umtru Stage III Hydroelectric Power Station (Meghalaya), Sustainable Catchment Forest Management Project (Tripura), and Project on Capacity Enhancement for Sustainable Agriculture and Irrigation Development (Mizoram). ALSO READ | Who is Shinzo Abe, the former PM of Japan? Why was he shot dead and what was the motive? Japan has an investment target of five trillion yen over the next five years in India – the major areas being manufacturing, climate change and infrastructure. Japan is the fifth largest investor in India with cumulative FDI inflows of $36bn during April 2000 and March 2022, contributing 6.28 per cent to India’s total FDI inflows in this period. At present, some 1,455 Japanese companies are operating in India. India’s total trade with Japan has increased to $15.3bn in 2020-21 with exports valued at $4.4bn and imports at $10.9bn, making it India’s 13th largest trade partner. India’s imports from Japan showed a growth of almost 73 per cent in just 13 years, reaching $10.9bn in 2020-21 from $6.3bn in 2007-08. Key imports from Japan include nuclear reactors, electrical machinery and equipment, copper, plastic, inorganic chemicals, rare earth metals and compounds of precious metals. India’s exports showed a growth of 14.2 per cent in 13 years, reaching $4.4bn in 2020-21 from $3.85bn in 2007-08. Key exports to Japan include mineral fuels and mineral oils, organic chemicals, fish and other aquatic invertebrates, and natural or cultured pearls. As the 5th largest investor, Japan has contributed $36.2bn in cumulative investments since 2000, especially in automobiles, Electronics System Design & Manufacturing (ESDM), medical devices, consumer goods, textiles, food processing and chemicals. Some prominent Japanese firms in India include Maruti, Toyota, Mitsubishi, Honda, Hitachi, Sony and Panasonic, which employ lakhs of Indian youths. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

How Shinzo Abe boosted Japanese investments in India

Possible successors stack up as Japanese Prime Minister Shinzo Abe resigns

Japanese Prime Minister Shinzo Abe`s signature shock-and-awe `Abenomics` stimulus strategy was already faltering even before his decision on Friday to step down due to health reasons.

That blunt assessment by many Japan observers underlined the daunting political challenge Abe has faced in his efforts to pull the economy out of decades of economic stagnation.

And the coronavirus crisis may have just put the final nail in the coffin to his `three arrows` reform programme as the economy sinks deeper into recession, analysts say.

After sweeping to power in late 2012, Abe deployed his three arrows of Abenomics - large-scale monetary easing, fiscal spending and structural reforms - to reignite the world`s third biggest economy after years of subpar growth and falling prices.

There were some quick-hit successes.

The Bank of Japan`s "bazooka" stimulus programme lifted business sentiment and helped weaken the yen, giving exporters windfall profits that trickled down to wages and new jobs.

Also Read: <a href="https://www.wionews.com/world/japan-prime-minister-shinzo-abe-resigns-over-health-concerns-323582">Japan Prime Minister Shinzo Abe resigns over health concerns</a>

Corporate governance reforms drew in huge amounts of overseas money, pushing up foreign ownership of Japan`s listed stocks to a record 31.7% in 2014 from 28% in 2012. It stood at 29.6% in 2019.

"We were able to end 20 years of deflation with the three arrows of Abenomics," the prime minister told a news conference on Friday announcing his resignation, when asked what he thought were his legacies.

But Abe will leave behind a pile of unfinished business for his successor.

"The focus at the moment will be on the coronavirus recovery and controlling the infection, regardless of who will be the next prime minister," said Takeshi Minami, chief economist at Norinchukin Research Institute.

"There has been talk that Abenomics has been having a harmful impact, so I think the focal point will be on suggestions how to make changes to it."

The biggest disappointment for the prime minister, and many Japan observers, is that the third-arrow reforms to reshape an economy hobbled by low productivity, a rapidly ageing population and a rigid labour market, have proved elusive.

"Abenomics has singularly failed to deliver Japan the domestic conditions that would spark higher growth beyond more reliance on external demand," said Brian Kelly, Managing Partner at Asian Century Quest.

PAYING THE PRICE

Now, Japan is paying the price as COVID-19 wipes out the short-term benefits brought by Abenomics, such as an inbound tourism boom, reflated growth and rising job availability.

Abe`s failure to entice companies to spend more on capital expenditure has given Japan Inc a huge cash-pile that served as a liquidity buffer to weather the pandemic`s shock.

But the experience may give firms an excuse to keep hoarding cash rather than spend on new business opportunities, which could stifle innovation and weigh on Japan`s potential growth - factors Abe was focussed on addressing through the third arrow.

"COVID-19 may have reassured corporate executives that cash is indeed king," said Hideo Hayakawa, a senior fellow at the Tokyo Foundation for Policy Research. "My fear is that companies may feel even more inclined to save rather than spend."

Social distancing policies and other business constrains to contain the virus may cripple potential growth - already low due to slow progress in deregulating highly-protected medical and agriculture industries, and accepting more foreign workers to address chronic labour shortages.

Japan`s potential growth rate, which used to exceed 4% in the 1980s, slid near zero last year from around 1% before Abenomics began, according to BOJ estimates.

"Structural reform, or the third arrow, has been the declaring failure of Abenomics," said Samuel Tombs, chief U.K. economist at Pantheon Macroeconomics.

"Even the government`s signature immigration reform last year was much ado about nothing, in practice."

DEFLATIONARY MINDSET

COVID-19 also dashed a grand experiment of Abenomics that aimed to turn around Japan`s "deflationary mindset," in which companies and households hold off on spending on expectations that low growth and wages will persist.

The economy stumbled to a record contraction in the second quarter that shrank nominal gross domestic product (GDP) to 507 trillion yen ($4.8 trillion), around levels marked in 2013 and far distant from Abe`s 600-trillion-yen target.

"Japan`s economy may have performed better after Abenomics, but not enough to change public sentiment dramatically," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.

"With the pandemic, we`ll likely see growth fall further. With many legacies of Abenomics wiped out, we know now there was no magic wand to fix Japan`s chronic woes," he said.

Moreover, with the BOJ having exhausted its tool-kit to achieve its elusive 2% inflation target, policymakers face the challenge of seeking to revive the economy with a dearth of ammunition.

Japan`s huge debt also limits room for big fiscal spending, which may keep any economic recovery weak, analysts say.

"Japan failed to normalise monetary and fiscal policies when the economy was in better shape," said former BOJ board member Takahide Kiuchi. "Now, it`s paying the price." ($1 = 106.6900 yen) 
&nbsp;

Japanese Prime Minister Shinzo Abe`s signature shock-and-awe `Abenomics` stimulus strategy was already faltering even before his decision on Friday to step down due to health reasons.

Japanese Prime Minister Shinzo Abe`s signature shock-and-awe `Abenomics` stimulus strategy was already faltering even before his decision on Friday to step down due to health reasons. That blunt assessment by many Japan observers underlined the daunting political challenge Abe has faced in his efforts to pull the economy out of decades of economic stagnation. And the coronavirus crisis may have just put the final nail in the coffin to his `three arrows` reform programme as the economy sinks deeper into recession, analysts say. After sweeping to power in late 2012, Abe deployed his three arrows of Abenomics - large-scale monetary easing, fiscal spending and structural reforms - to reignite the world`s third biggest economy after years of subpar growth and falling prices. There were some quick-hit successes. The Bank of Japan`s "bazooka" stimulus programme lifted business sentiment and helped weaken the yen, giving exporters windfall profits that trickled down to wages and new jobs. Also Read: Japan Prime Minister Shinzo Abe resigns over health concerns Corporate governance reforms drew in huge amounts of overseas money, pushing up foreign ownership of Japan`s listed stocks to a record 31.7% in 2014 from 28% in 2012. It stood at 29.6% in 2019. "We were able to end 20 years of deflation with the three arrows of Abenomics," the prime minister told a news conference on Friday announcing his resignation, when asked what he thought were his legacies. But Abe will leave behind a pile of unfinished business for his successor. "The focus at the moment will be on the coronavirus recovery and controlling the infection, regardless of who will be the next prime minister," said Takeshi Minami, chief economist at Norinchukin Research Institute. "There has been talk that Abenomics has been having a harmful impact, so I think the focal point will be on suggestions how to make changes to it." The biggest disappointment for the prime minister, and many Japan observers, is that the third-arrow reforms to reshape an economy hobbled by low productivity, a rapidly ageing population and a rigid labour market, have proved elusive. "Abenomics has singularly failed to deliver Japan the domestic conditions that would spark higher growth beyond more reliance on external demand," said Brian Kelly, Managing Partner at Asian Century Quest. PAYING THE PRICE Now, Japan is paying the price as COVID-19 wipes out the short-term benefits brought by Abenomics, such as an inbound tourism boom, reflated growth and rising job availability. Abe`s failure to entice companies to spend more on capital expenditure has given Japan Inc a huge cash-pile that served as a liquidity buffer to weather the pandemic`s shock. But the experience may give firms an excuse to keep hoarding cash rather than spend on new business opportunities, which could stifle innovation and weigh on Japan`s potential growth - factors Abe was focussed on addressing through the third arrow. "COVID-19 may have reassured corporate executives that cash is indeed king," said Hideo Hayakawa, a senior fellow at the Tokyo Foundation for Policy Research. "My fear is that companies may feel even more inclined to save rather than spend." Social distancing policies and other business constrains to contain the virus may cripple potential growth - already low due to slow progress in deregulating highly-protected medical and agriculture industries, and accepting more foreign workers to address chronic labour shortages. Japan`s potential growth rate, which used to exceed 4% in the 1980s, slid near zero last year from around 1% before Abenomics began, according to BOJ estimates. "Structural reform, or the third arrow, has been the declaring failure of Abenomics," said Samuel Tombs, chief U.K. economist at Pantheon Macroeconomics. "Even the government`s signature immigration reform last year was much ado about nothing, in practice." DEFLATIONARY MINDSET COVID-19 also dashed a grand experiment of Abenomics that aimed to turn around Japan`s "deflationary mindset," in which companies and households hold off on spending on expectations that low growth and wages will persist. The economy stumbled to a record contraction in the second quarter that shrank nominal gross domestic product (GDP) to 507 trillion yen ($4.8 trillion), around levels marked in 2013 and far distant from Abe`s 600-trillion-yen target. "Japan`s economy may have performed better after Abenomics, but not enough to change public sentiment dramatically," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. "With the pandemic, we`ll likely see growth fall further. With many legacies of Abenomics wiped out, we know now there was no magic wand to fix Japan`s chronic woes," he said. Moreover, with the BOJ having exhausted its tool-kit to achieve its elusive 2% inflation target, policymakers face the challenge of seeking to revive the economy with a dearth of ammunition. Japan`s huge debt also limits room for big fiscal spending, which may keep any economic recovery weak, analysts say. "Japan failed to normalise monetary and fiscal policies when the economy was in better shape," said former BOJ board member Takahide Kiuchi. "Now, it`s paying the price." ($1 = 106.6900 yen)

Abenomics fails to deliver as Japan braces for post-Abe era

Japanese Prime Minister Shinzo Abe went through a medical check-up on Monday after he had been complaining of fatigue due to heavy workload due to coronavirus emergency.

Abe was spotted entering&nbsp;Tokyo's Keio University Hospital on Monday morning, and local media reported he might return home by late evening.

<a href="https://www.wionews.com/world/japan-faces-ww2-anniversary-in-shadow-of-coronavirus-319862">Also read:&nbsp;Japan faces WW2 anniversary in shadow of coronavirus</a>

The local media believes it is a regular check-up that Abe goes through twice a year. However, the visit has come after&nbsp;Akira Amari, chairman of the ruling Liberal Democratic Party`s tax panel, said that Abe has been suffering from fatigue because of his continuous work for coronavirus relief for Japanese citizens.

"I want him to take a break," Amari told local media. "He has a strong sense of responsibility and feels it's wrong to take a break."

Abe was last seen in public at a Tokyo ceremony commemorating Japan's World War Two defeat.&nbsp;

<a href="https://www.wionews.com/world/japanese-ministers-visit-yasukuni-shrine-first-since-2016-320773">Also read:&nbsp;Japanese ministers visit Yasukuni Shrine, first since 2016</a>

The local media has been running detailed reports about Abe's health and some even reported the Prime Minister vomited blood. All these reports, however, have not been verified or proved right.

Chief Cabinet Secretary Yoshihide Suga urged people to stay calm and said, "I see the prime minister every day, and I think he has no (health) problems at all, as he has been carrying out his duties smoothly."

The concerns have been rising since Abe has a history of&nbsp;ulcerative colitis, due to which he had to step down from his position in 2007. However, the Prime Minister has been keeping the health issue under control with the help of doctor-prescribed medication.

Deputy Prime Minister and Finance Minister Taro Aso will be taking over Abe's&nbsp;role, if need be.

Japanese Prime Minister Shinzo Abe went through a medical check-up on Monday after he had been complaining of fatigue due to heavy workload due to coronavirus emergency.

Japanese Prime Minister Shinzo Abe went through a medical check-up on Monday after he had been complaining of fatigue due to heavy workload due to coronavirus emergency. Abe was spotted entering Tokyo's Keio University Hospital on Monday morning, and local media reported he might return home by late evening. Also read: Japan faces WW2 anniversary in shadow of coronavirus The local media believes it is a regular check-up that Abe goes through twice a year. However, the visit has come after Akira Amari, chairman of the ruling Liberal Democratic Party`s tax panel, said that Abe has been suffering from fatigue because of his continuous work for coronavirus relief for Japanese citizens. "I want him to take a break," Amari told local media. "He has a strong sense of responsibility and feels it's wrong to take a break." Abe was last seen in public at a Tokyo ceremony commemorating Japan's World War Two defeat. Also read: Japanese ministers visit Yasukuni Shrine, first since 2016 The local media has been running detailed reports about Abe's health and some even reported the Prime Minister vomited blood. All these reports, however, have not been verified or proved right. Chief Cabinet Secretary Yoshihide Suga urged people to stay calm and said, "I see the prime minister every day, and I think he has no (health) problems at all, as he has been carrying out his duties smoothly." The concerns have been rising since Abe has a history of ulcerative colitis, due to which he had to step down from his position in 2007. However, the Prime Minister has been keeping the health issue under control with the help of doctor-prescribed medication. Deputy Prime Minister and Finance Minister Taro Aso will be taking over Abe's role, if need be.

Japan's PM Shinzo Abe goes for check-up after coronavirus work piles on

It's been 75 years since America dropped the world's first atomic bomb on Hiroshima. For survivors, the war isn't over yet. Discarded N-treaties, faster missiles, cyber-attacks, and artificial intelligence - the new nuclear threats are greater than before. WION's Palki Sharma tells you why the world isn't any wiser.

Gravitas: 75 Years After Hiroshima | Will new tech raise the threat of nuke war?

Prime Minister Shinzo Abe, in his speech at the ceremony, said Japan is committed to nuclear weapons ban but said a nuclear-free world could not be achieved overnight and that it has to start from dialogue between opposite sides.

Japan: 75 years since first atomic bombing | Hiroshima Bombing Anniversary | Shinzo Abe

Japan marks 75th anniversary of Hiroshima atomic bombing | World War 2 | WION | World News

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