Our thoughts on the epic disaster that is Abenomics, and how Japan (just like the US, just like Europe, just like every insolvent developinged country) makes up policy on the fly - very often contradictory as in the most recent example of a sales tax hike offset by a corporate tax reduction - day after day based on the prevailing market response, have been extensively analyzed and mocked on these pages over the past year. We were, however, delighted when over the weekend none other than China decided to take Japan to task with the most vicious critique to date of the pure comedy that Abenomics has become.
To wit from Bloomberg: Japan’s plan to raise taxes while expanding stimulus received “widespread skepticism” at the meeting of Group of 20 policy makers, according to Chinese Deputy Finance Minister Zhu Guangyao. "Japan, on the one hand, plans to raise consumption taxes next year," Zhu told reporters in Washington during the G-20 meetings. "On the other hand, it plans to unleash a fresh round of 5 trillion-yen economic stimulus to stem the economic slowdown. Such strategy received widespread skepticism."
And crickets.