» 01/24/2012, 00.00
Tokyo increases tax burden, but with (perhaps) no result
Taxes on sales double to 10%. The Central Bank revises growth forecast downwards (2%). The economy is in crisis due to a reduction in exports to Europe and USA. The value of the yen rose by 17% in two years. The effort to detoxify Fukushima.
Japan renews with strong economic growth
GDP grew 1.2 per cent in last quarter of 2006, the strongest since 2004, but experts warn it is based on continent factors like higher exports and a weak yen. Central Bank will decide next week whether to raise interest rates or not.
Japan Airlines announces bankruptcy
Its debt reaches 16.5 billion dollars. It is the largest bankruptcy in the postwar history of Japan. Under state control, the company will continue to fly, but will fire 15700 people. At a cost to taxpayers of 44 billion yen.
Chinese growth slowing down again in May, Wen Jiabao voices concerns
The growth in manufacturing activity is slowing down because of the European debt crisis and government measures to rein in the real estate boom. In Tokyo, Chinese PM Wen warns against the dangers of a second slump, but believes China is on track.
Record drop in Japanese economy in the first quarter: - 4%
Tokyo’s data worse than the USA (-1,6%) end Europe (-2,5%). Exports in free fall as well as internal demand. There are some signs of recovery, but fears too, that it is tied to the governments massive stimulus plans.
Japan recovers, posts a trade surplus
Since the 11 March disaster, trade figures were negative. Recovery is made possible by a more efficient organisation of production; however, power shortages, the world’s economic crisis and a stronger yen loom over the horizon.
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