09.26.134:02 PM ET

Japan’s P.M. Promotes ‘Womenomics’

“We must bridge this equality gap.”

Japan’s Prime Minister Shinzo Abe is praising “womenomics” as a policy for economic growth. He cites “womenomics”—the concept that if a nation taps into women’s economic potential, its economy will grow—as a prominent aspect of Japan’s anti-deflation, growth-promotion policies. “We must bridge this equality gap,” he stated, referring to the statistic that Japanese women earn, on average, 30.2 percent less than men. From increasing female employment to extending day care and nursing services, he hopes womenomics will further propel Japan’s economic growth and curb its declining birthrate. He promises to spend more than $3 billion in the next three years to further empowering women. When Abe addresses the United Nations on Tuesday, he will submit womenomics proposals for Japan, Africa, and beyond.