Most investors think Japan's equity market rebound is down to the Abenomics effect, but global growth is the real tailwind for the market says Canada Life's Alex Lee.
“Japan is back”. This is the message Prime Minister Abe is eager to spread. It is a message that the world’s third largest economy – the birth place of global giants including Sony, Toyota and Canon – is ready to re-emerge from two decades of economic stagnation and help to drive the international economy forward. Recent economic growth results paint a positive picture for Japan. The economy expanded at an annualised rate of 3.8% in Q2 of 2013, and having grown at 4.1% in Q1, Japanese growth will outpace both the US and eurozone this year, according to Bloomberg consensus estimates. Plus...
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