Everyone sites Japan's previous crisis for lessons on this one. It follows that Japan knows a thing or two about how tackle these things.
They've clearly decided that stimulus is the way to go. They've added another US$150 billion (15.4 trillion yen). This is in addition to the previous 12 trillion yen number.
The measures represent about 3% of GDP.
There's a continued trend to help small businesses, including contract workers. There are also measures to expand "green" technologies and support elder/health care. Other targeted areas are boosting fuel-efficient vehicles and consumer electronics.
Unemployment in Japan hit a three-year high of 4.4 per cent in February.
http://english.aljazeera.net//business/2009/04/20094685024327368.html
http://news.bbc.co.uk/2/hi/business/7985239.stm
http://hosted.ap.org/dynamic/stories/A/AS_JAPAN_STIMULUS_ASOL-?SITE=YOMIURI&SECTION=HOSTED_ASIA&TEMPLATE=ap_national.html
Monday, April 6, 2009
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