Japan stimulus package swells to $120bn in Abenomics reboot

Dec 06, 2019 | News On Japan

Dec 06, 2019 (Nikkei) - The Japanese government approved 13.2 trillion yen ($121 billion) worth of public stimulus spending on Thursday, with the economy due for a total infusion of 26 trillion yen if private-sector and other outlays are factored in.

The sum is a step up from the amount originally expected to come from the government's budget -- more than 10 trillion yen. Investment in public works accounts for 6 trillion yen of the total, including natural disaster recovery and prevention projects.

More broadly, the package is meant to strengthen the economy against a possible cool-down period after the 2020 Tokyo Olympics and other risks such as the U.S.-China trade war.

Prime Minister Shinzo Abe made his case for the package in a policy meeting on Thursday morning, calling it a "powerful" set of measures suitable as the first stimulus of the new Imperial era that started this year.

"We should not miss this chance," Abe said. "Now is the time to accelerate Abenomics and seek to overcome the challenges facing us."

A key pillar of the package will be enhancing preparedness for natural disasters like the strong typhoon that hit in October. The government plans to beef up flood protections and remove roadside utility poles to make way for vehicles in emergencies. Some money will also go toward rebuilding Okinawa's Shuri Castle, a World Heritage site that burned down at the end of October.

Japanese Prime Minister Shinzo Abe speaks during a meeting of the economy and fiscal policy council in Tokyo on Dec. 5. (Photo by Uichiro Kasai)

The size of the spending plan and the speed at which it came together raised questions for some, given Japan's struggle to rein in its public debt.

Source: ANNnewsCH

Toyota to Launch Self-Driving Taxis in 2027

Toyota Motor will begin operating fully autonomous taxis in 2027 through a partnership with U.S. self-driving technology company Waymo, marking a major step in the Japanese automaker's efforts to expand driverless transportation services.

Mount Fuji Puts on First Snowcap

Mount Fuji has received its first snowcap of the season, the Japan Meteorological Agency announced on October 30, after temperatures at the summit plunged to minus 9.4 degrees Celsius, marking the arrival of winter conditions on Japan's highest mountain.

Chinese Female Spy Suspected of Targeting Nvidia Chief

U.S. intelligence agencies suspect that a Chinese female intelligence operative developed a close relationship with Nvidia CEO Jensen Huang in an attempt to obtain confidential corporate and U.S. government information, according to a report published by The New York Times on October 29th.

Japan Blocks Websites Leaking GMO Personal Data

The Japanese government has asked major telecommunications operators to forcibly block access to websites believed to contain personal information stolen in a cyberattack on GMO, it emerged on October 29th, as authorities moved to prevent further exposure of sensitive data online.

Typhoon No. 31 Heads Toward Japan's Remote Islands

Typhoon No. 31 was located near Minamitorishima Island in the Pacific Ocean, as of 3 a.m. on October 30, and was expected to approach the Ogasawara Islands south of Tokyo over the October 31-November 1 weekend while maintaining very strong intensity, bringing a growing risk of dangerously high waves, powerful swells and extremely rough seas.

MEDIA CHANNELS

MORE Society NEWS

Landlords Bear Financial Burden of Lonely Deaths

Japan's rapidly aging population is facing a growing crisis of elderly people dying alone at home, with grieving families sometimes unable to see their loved ones before burial and landlords increasingly forced to shoulder substantial cleanup and estate clearance costs when relatives abandon their inheritance.

Prison Inmates Help Preserve Japan's Traditional Crafts

Traditional Japanese crafts are finding an unexpected source of skilled workers in prisons across the country, where inmates are learning painstaking production techniques that build patience and concentration while helping preserve industries struggling with a shortage of craftspeople.

South Korean Man Arrested Over Killing of Japanese Woman Following Stock Crash

A Japanese woman in her 20s was found dead at an apartment complex in Cheonan, central South Korea, on October 29th, prompting police to detain a South Korean man in his 30s on suspicion of murder after he allegedly confessed to killing her because he had decided to commit suicide following stock market losses but could not bring himself to die alone.

Japan's Imperial Family Hosts Autumn Garden Party

Emperor Naruhito and Empress Masako hosted the annual autumn garden party at the Akasaka Imperial Gardens in Tokyo on October 29, welcoming approximately 1,400 guests, including actor Kotaro Yoshida and novelist Miyuki Miyabe, while female members of the Imperial Family attended in traditional Japanese attire.

Rescuers Save Paraglider Who Stopped Breathing

A 59-year-old water sports rental shop owner in Omachi, Nagano Prefecture, has received a letter of appreciation from police after rescuing a paraglider who plunged into a lake on September 21, pulling the unconscious man from the water and performing CPR after discovering he was no longer breathing.

Couple's Gardening Hobby Turns Out to Be Cannabis Cultivation

A married couple in Aira, Kagoshima Prefecture, have been arrested after police discovered cannabis plants growing in pots on the terrace of their home during a search connected to a separate investigation, authorities said on October 28th.

Elderly Woman Drives Along Railway Tracks, Ends in Tragedy

A woman in her 80s was killed after her car entered railway tracks on the Odakyu Enoshima Line in Fujisawa, Kanagawa Prefecture, shortly before 10:30 p.m. on October 27, with security camera footage showing the vehicle traveling along the tracks, passing an oncoming train and stopping with its hazard lights flashing before being struck from behind by another train.

Teen Hospitalized After Electric Shock From Basketball Hoop

A teenage male was rushed to a hospital after suffering an electric shock while putting away a motorized basketball hoop at a gymnasium in Kitakyushu, Fukuoka Prefecture, in an accident believed to have been caused by an incompatible extension cord, according to a report on October 27th.

< 2 3 4 5 >