Japan becoming the land of the setting sun
MarketWatch -- Jun 22
The frenetic activity of the government of Japanese Prime Minister Shinzo Abe has prompted optimism that Japan can reverse its economic drift. But activity shouldn't be mistaken for achievement.

Under Abe's second go as prime minister, Japan has initiated an ambitious "three arrows" economic recovery plan, christened "Abenomics." (Recent growth figures are cited as proof of the success of these new policies, despite the fact that they were not in place during the relevant period.)

The first arrow is a 10.3 trillion yen (US$100 billion) fiscal stimulus program to increase public spending. The second arrow is a further easing of monetary policy to increase demand, investment and inflation (to 2%). The third arrow mandates structural reforms to increase incomes and improve Japan's industrial competitiveness and productivity. Japan's total factor productivity in the manufacturing, non-manufacturing and agricultural sectors is the same as in 1991.

The policies have all been tried before, with limited success.

The government's spending program follows 15 stimulus packages between 1990 and 2008. Based on previous experience, it may provide a short-lived jump to economic activity but will not create a sustainable recovery in demand.

Source: MarketWatch
May 29
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May 29
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May 29
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May 27
The Japanese health ministry's plan to ban restaurants from serving raw pork including liver and other internal organs was approved at an advisory panel sectional meeting on Wednesday. (Jiji Press)
May 27
The operator of the crippled Fukushima Daiichi nuclear plant said Wednesday it has finished filtering a total of 620,000 tons of extremely toxic water being stored in tanks on the premises of the complex to lower its radiation level. (Kyodo)
May 29
Police in Sapporo said Thursday they have arrested a 64-year-old woman over the death of her 42-year-old mentally disabled daughter whose body was found at their apartment in Nishi Ward. (Japan Today)
May 28
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May 28
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May 27
Police in Toyota, Aichi Prefecture, have arrested a 65-year-old man after three bodies were found in the ruins of his house that was destroyed by a fire on Tuesday morning. (Japan Today)
May 26
Japan's Emperor Akihito and Empress Michiko have attended a ceremony in Tokyo to pray for the victims of a devastating US air raid during World War Two. (NHK)
May 26
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May 26
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May 26
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May 26
A 39-year-old man on Monday pleaded guilty to fatally stabbing two people at random on a street in Osaka on June 24, 2012. (Japan Today)
May 25
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