A magnetically levitating train operated by Central Japan Railway Co. making a test run is seen on an experimental track in Tsuru, Yamanashi Prefecture, in this photo taken by Kyodo April 21, 2015. REUTERS/Kyodo
TOKYO (Reuters) - Few doubt Japanese Prime Minister Shinzo Abe's decision to invest public funds in a $90 billion dollar (68 billion pounds) high-tech "maglev" railway makes political sense. Whether it makes equally good economic sense is less clear.
Proponents say lending government money to Central Japan Railway Company (JR Tokai) to speed up the launch of a service linking Tokyo and Osaka with a high-speed, magnetically levitated train will spark growth in an economy still fragile after three years of an "Abenomics" mix of hyper-easy monetary policy, spending and promised structural reforms.
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