Japan unveils stimulus package

[alp227]

Source: AP

The Japanese cabinet has approved a fresh stimulus package of more than 20 trillion yen (£138bn/$224bn), aiming to lift the economy out of recession and create 600,000 new jobs.

The prime minister, Shinzo Abe, announced the decision at a news conference where he said the new measures were intended to add 2% to Japan's real economic growth.

Abe urged the central bank to move more aggressively to encourage lending and meet a clear inflation target to break out of the economic doldrums that have plagued Japan for two decades.

Abe took office late last month after a parliamentary election victory by the Liberal Democratic party, which is touting public works spending and subsidies to strategically important sectors as part of its plan to revive the economy.

Read more: http://www.guardian.co.uk/world/2013/jan/11/japan-unveils-stimulus-package

[blueclown]

1. Shocking what smart governments do when interest rates are low.

THey invest money in stimulus packages designed at improving infrastructure and creating jobs.

[AngryAmish]

4. This stimulus idea has worked so well for Japan the last 20 years...

[Cicada]

2. Sounds great - now 2 more changes needed

They need to encourage better use of women in the workforce. Too often women are not permitted to use their talents in meaningful work, a tremendous waste. Maybe the government should increase funding for scientific and technological research with encouragement for female workers. And they need to increase the birth rate or encourage more young workers to move to Japan. Go Japan!

[davidpdx]

3. Korea is going to have to be the next one in Asia to do this

The economy is slowing here as well.

[John2]

5. I would applaud this,

but the Japan has a population of over 100 million people. Just how much does Japan spend for their own defense after World War II? I will throw that into the mix.