» 04/09/2009, 00.00
Government to adopt 154 billion dollar stimulus package
Money is set to help companies and the unemployed and stimulate consumption. But experts warn it will just be a short-term reprieve that increases the tax burden in the future.
Yoshihiko Noda's election to resolve a political and social crisis
The new prime minister (who is also chairman of the Democratic Party of Japan) was voted in by the party "idealists", putting "Shogun" Ozawa in the minority, who frequently changed camps throughout his career and to date had always been victorious. The population seems appreciative.
Prices and employment plunge as fear of deflation grows
Consumer prices dropped 2.4 per cent in August, a record since 1971. Fears grow that lower demand might lead to further cuts in production and more job losses, setting in motion a deflationary spiral.
Tokyo-vote: towards a political earthquake
On August 30, the country faces its most important election in 60 years. Liberals, who have had almost continuous control since 1958, risk being voted out of government. The sunset of the alliance between politicians, industry and bureaucracy. The severity of the economic crisis and the new international role of the country.
Beijing tries to stimulate domestic consumption, against unemployment and revolts
The sharp slowdown in Chinese exports is destroying millions of jobs. Beijing is afraid that this will lead to more protests, and is cutting taxes and providing subsidies to stimulate domestic consumption.
Moody’s cuts Japan’s rating from Aa2 to Aa3
The decision was expected given the country’s huge public debt, post-tsunami reconstruction problems and the political uncertainty that surrounds the election of a new prime minister next Monday. For experts, the public debt is the test all countries face.
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