Abe’s grand plan to revive Japan’s economic might

By Elaine Kurtenbach

Published June 24, 2014 11:34am ET

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Abe’s grand plan to revive Japan’s economic might — Japanese Prime Minister Shinzo Abe speaks during a press conference at his official residence in Tokyo, Tuesday, June 24, 2014. Abe formally announced an outline of his long-awaited growth strategy, a slew of reforms meant to revitalize the economy and restore its global competitiveness. The plan, approved by the Cabinet earlier in the day, includes dozens of proposed changes to labor regulations, government pension fund investments, corporate governance and tax policies that Abe says are needed to spur corporate investment and innovation. (AP Photo/Koji Sasahara) | Koji Sasahara

TOKYO (AP) — Prime Minister Shinzo Abe announced a slew of measures Tuesday aimed at restoring Japan’s global competitiveness. Past governments have sought and failed to enact many of the reforms Abe and other leaders say are needed to revamp an outdated post-World War II industrial model and sustain growth for decades to come.

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