Under TSJS's sincere invitation, Dr. KAWASHIMA visited Taiwan and give a keynote speech, titled "Three Arrows of Abe's Economic Policy" in Kainan University.  Dr. KAWASHIMA pointed out that in the depreciation of the yen, the increase of stock price and employment rate as well as other factors, the overall economy has a trend of recovery. However, from an individual point of view, household income and export volume may not really grow. Fiscal and financial policies are becoming less and less effective, and real problems still arise from the lack of consumption and employment of labor, also high savings. Therefore, the economy can not have a positive positive cycle. In the foreseeable future, structural problems such as regional economic integration, social security, and birth rates remain the biggest challenge for Japan's economy.