Abenomics to Fail Without ‘Third Arrow,’ Allianz Global

The policies of Japanese Prime Minister Shinzo Abe and the Bank of Japan will fail to reignite long-term growth in the Asian nation as they don’t address structural flaws in areas such as labor and immigration, Allianz Global Investors’ chief investment officer said.

“The effects of this major monetary policy will wear off, and then we’re going to be back where we are now,” Andreas Utermann said in an interview in Paris. “Anyone investing in Japan now is living on borrowed time.” Allianz Global Investors, a unit of Allianz SE, oversees about $424 billion.