It is also worth noting that archrival China, the second biggest economy in the world, has already pushed for reforms as it tries to steer away from an investment-led growth to a consumption-driven economy. These included quantitative easing (QE) to the tune of $50 billion-$60 billion a month, fiscal policies, and structural reforms to spur private investments. Abenomics specifically targeted an annual inflation rate of 2%, an appreciation of the yen vis-à-vis other leading currencies like the U.S. dollar, negative interest rates, fixing the labor market, and expansion of public investments.