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.
About 38 miles inland from the plant lies the commercial city of Koriyama, where some of the smallest children barely know what it is like to play outside - fear of radiation has kept them indoors for much of their short lives. (telegraph.co.uk )
The Fisheries Agency on Monday announced plans to slash Japan's catches of immature bluefin tuna around the country by half from the average level in 2002-2004 for the time being from 2015, in an effort to help recover shrinking tuna stocks in the Pacific. (Jiji Press )
University of Yamanashi Prof. Teruhiko Wakayama who coauthored articles about stimulus-triggered acquisition pluripotency (STAP) cells with RIKEN researcher Haruko Obokata and others proposed on Monday that all the researchers involved withdraw the articles, saying there are many questionable points. (The Japan News )
Police in Niihama, Ehime Prefecture, are investigating the mutilation deaths of three cats whose bodies were left in a park. Two were found dead in February, and the third was found on Saturday. (Japan Today )
Banging on drums and waving "Sayonara nukes" signs, thousands of people rallied in a Tokyo park and marched to Parliament on Sunday to demand an end to nuclear power ahead of the third anniversary of the Fukushima disaster. (scmp.com )
Fewer than 40 pct of residents and commuters in Tokyo take specific measures to prepare for a possible huge earthquake beneath the Japanese capital, despite high awareness on disaster prevention, a Metropolitan Police Department survey showed Friday. (Jiji Press )
The man under arrest for fatally stabbing one man and wounding three others during a 10-minute rampage in Kashiwa, Chiba Prefecture, on Monday night, told police on Thursday that he wanted to hijack a plane at Haneda airport and fly it into Tokyo Skytree to take revenge on society. (Japan Today )
The man lauded as "Japan's Beethoven," who has admitted he never wrote his compositions, appeared before cameras for the first time since the scandal surfaced - clean-shaven and minus his trademark sunglasses. (abcnews.go.com )