The term often quoted surrounding the economic policy of the current Japanese government is ‘Sam-bon no Ya’ (三本の矢). Prime Minister Abe himself often uses this phrase.
The equivalent English phrase, methinks, is the ‘three strand cord’, which is ‘not easily broken’. To translate the phrase, ‘three arrows’ is more accurate, though the poetry is lost in translation. Still, the imagery of the samurai out on a hunting holiday is not lost on the Japanese media, as any Google search will tell you.
Upon reflection, a perhaps more appropriate translation would be, ‘the three pronged approach.’ Perhaps.
Mostly for my own benefit, I will provide a rough translation of this graphic from the website of the political party Komeito.
“Three Arrows” to Economic Recovery
Pulling out of Deflation
Boosting the Economy
Arrow 1: Monetary (Credit) Policy
- Introduction of 2% commodity price target
- Financing by Bank of Japan
Arrow 2: Public Finance (Fiscal) Policy
- Implementation of disaster prevention/natural disaster effects reduction ‘New Deal’
- Accelerated reconstruction from the Great East Japan Earthquake, etc.
Arrow 3: Growth Strategy
- Encouraging investment in the expansion of energy conservation/renewable energy
- Strengthening of funding support for small/medium sized enterprises
- Selective investment in the fields of healthcare, agriculture, education, etc.