Thursday, 19th August 2010
In Business In Japan,
Economic trouble response 'will determine history'
The way in which both the government of Japan and its people respond to the country's economic troubles will "determine the next half-century of Japanese history", it has been said.
Writing for the Wall Street Journal, Michael Auslin noted that over the past few years, while the Japanese economy stood as the second largest in the world, the nation was keeping a "wary eye" on China as it enjoyed boom days.
"Now, the long expected and long dreaded moment of being overtaken by their continental neighbor has arrived," he commented.
And while he noted that such data may not seem to matter too much - as it is clear that the Japanese enjoy a greater quality of life than many of their Chinese neighbours, boasting the world's longest life expectancy as well as a high gross national product and much improved environment conditions - there is still something amiss in the nation's development.
The Japanese government recently announced it is considering a fresh wave of economic stimulus measures to help prop up the ailing economy.
Written by Kimberley Homer
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New Cabinet sworn in as Abe pledges to end economic slump (27th December 2012)