Monetary easing，fiscal expansion and growth strategies are termed as the “three arrows” of the so-called Abenomics. A casual glance may suggest that the first two “arrows” are of little difference with the contents of Takahashi fiscal policy in early 1930s，but a closer look indicates that Abenomics has learned profound lessons from Takahashi fiscal policy. Abenomics is largely different from Takahashi fiscal policy in fiscal and monetary policies. The third “arrow”，or the economic growth strategies，is also lack of innovative idea as compared with that of the post-bubble periods. This study argues that the early establishment of FTA with China and Korea can be the only fundamental solution to the Japanese economic recovery in an effectively interactive mechanism.