Noah Smith has economic ideas for Japan

Excerpt from the opening:

Fortunately, Japan is in an OK macroeconomic situation right now. Government debt, the country’s thorniest problem, is actually falling as a percent of GDP, thanks in part to higher inflation and in part to rising corporate profits and tax revenues…

The deflation problem that bedeviled Japan for decades has finally been defeated. And at the same time, unemployment in Japan remains very low…

This means that Takaichi and her cabinet don’t need to focus as much energy and attention on macroeconomics, as Abe did. There is no need for further stimulus, monetary or fiscal. Instead, Takaichi is free to concentrate on improving Japan’s underlying economic model, in order to promote productivity and growth.

Noah has six specific ideas of note, starting with improving capital markets.  Here is the whole post.