InfoAnda - Opposition looks to reshape Japanese economy

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Turkmens aim to soften punitive system | 2 March 2010
Iceland protests to U.S. over Twitter data demand | | 11 January 2011
Thais probe destination for seized NKorean weapons | 15 December 2009

Crisis still grips Ukraine amid IMF jitters | 20 September 2009

Forum Views () Forum Replies ()

Read more with google mobile : Opposition looks to reshape Japanese economy

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Opposition looks to reshape Japanese economy By TOMOKO A. HOSAKA,Associated Press Writer AP - Saturday, August 29 TOKYO - In one of the most heated political contests in recent memory, Japan's opposition party is courting voters with an enticing promise: monthly cash for kids. ADVERTISEMENT By giving families 26,000 yen ($275) a month per child through junior high, the Democratic Party of Japan hopes to ease parenting costs and encourage more women to give birth in a country where the rapidly aging population is among the gravest long-term threats. Parents are already given a lump sum of 350,000 yen ($3,700) for the birth of each child. The program is the centerpiece of a plan to steer the world's second-biggest economy to the left, away from what opposition leader Yukio Hatoyama describes as the "fundamentalist pursuit of capitalism" that he says led to last year's financial crisis. If the Democrats dethrone the ruling Liberal Democratic Party as is widely expected in parliamentary elections Sunday, they vow to put people _ not Japan Inc. _ at the core of their economic policy. That would represent a significant change for Japan, which for decades has prioritized industrial interests in the drive to propel the country from its defeat in World War II to its current position as a world economic power. Koichi Nakano, a political science professor at Tokyo's Sophia University, describes the Democrats' vision as a fundamental departure from the economic model of the past. It would be, in effect, an acceptance that Japan is waning as a global economic leader and needs a more people-centric approach to deal with the issues it now faces. Those problems stem from a shrinking and aging population. Japan's population of 127.6 million peaked in 2006, and is expected to decline to 115 million in 2030 and fall below 100 million by the middle of the century. The younger generation will need to bear an increasing burden to care for swelling ranks of senior citizens, even as they watch the promise of lifetime employment fade. On Friday, the government reported that the nationwide unemployment rate hit 5.7 percent, the highest level in Japan's post-World War II era. "There are people who still want Japan to be able to compete in the big leagues," Nakano said. "But others think that Japan is destined to decline, and it becomes a question of managing that decline now that China is such a big power." Whether the Democrats can actually pull it off is the big question. In addition to the child payouts, they propose an expensive menu of initiatives: toll-free highways, free high schools, income support for farmers, monthly allowances for job seekers in training, a higher minimum wage and tax cuts. The estimated bill comes to 16.8 trillion yen ($179 billion) when fully implemented starting in the 2013 fiscal year. That may be too much to handle for a country with a massive fiscal deficit. The Organization for Economic Cooperation and Development predicts the country's public debt, already the highest among member countries, may reach 200 percent of gross domestic product next year. The party's labor-friendly policies, such as a ban on the use of temporary workers, are also likely to meet resistance from business groups and a public wary of too much change. "I don't think there's all that much enthusiasm about the DPJ plan," Nakano said. "People are generally supporting the DPJ not so much because they like it but because they don't like the LDP." The Japan Business Federation, better known as Nippon Keidanren, is officially staying neutral. But officials have been critical of the Democrats' ideas for growth. In a statement, Chairman Fujio Mitarai urges voters to scrutinize policies before they head to the ballot box. "What our country needs more than anything else is to focus on the future, and work toward concrete and realistic reforms of the tax, public finance and social welfare systems," said Mitarai, also chief executive of Canon Inc. "We must also establish new foundations of growth by strengthening industrial technology." The Democrats say that growth is what they want too, and tout their measures as a way for Japan to support itself through stronger domestic consumption. They have said they plan to pay for all the new social spending, which amounts to about 3.5 percent of GDP, by eliminating wasteful public works, streamlining the bureaucracy and tapping into hidden financial reserves. Richard Jerram, chief economist at Macquarie Securities in Tokyo, is skeptical. He calls the Democratic platform a "quasi-socialist approach" that would destabilize public finances and hurt Japan's overall competitiveness. "The core of the DPJ's economic policy seems to be a fantasy Robin Hood scheme, aimed at appealing to as many voters as possible," Jerram said in a recent report. Analysts agree that the measures will help households initially. Individual consumption accounts for more than half of Japan's economy, so more money in people's bank accounts would help the economy assuming people spend and don't save. Moreover, change itself is likely to lift the national mood. "The LDP has effectively ruled this country for more than 50 years, and many people feel that we are stuck," said Masamchi Adachi, senior economist at JPMorgan Securities Japan Co. "We don't know what the DPJ will really do, but at least change can be expected." When it comes to Japan's longer-term future, however, economists are more dubious. Even if the Democrats' policies result in an uptick in domestic demand, Kyohei Morita, chief economist at Barclays Capital in Tokyo, doubts that it will last. What Japan really needs, he says, is simply more people. And in that regard, giving families 26,000 yen a month is unlikely to result in more babies. The Democrats "shouldn't mention this child allowance as a measure to increase domestic demand," Morita said. "It's just an allocation of money to households and what the DPJ will get from this is simply votes, not domestic demand (in the long term)." Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: China's Economy Regulators shut banks in Calif, Md, MinnAP - 2 hours 26 minutes ago Opposition looks to reshape Japanese economyAP - Saturday, August 29 China comes to Canary Wharf company's rescueAFP - Saturday, August 29 US lawmaker says China's CIC considers NY officeReuters - Saturday, August 29 Related Articles: Business Regulators shut banks in Calif, Md, MinnAP - 2 hours 26 minutes ago GOP senator signals fading hopes on health careAP - 2 hours 34 minutes ago IDB to start $1.5 bln bond roadshow on Sept. 2Reuters - 2 hours 39 minutes ago Iraq budget panel sees 2010 oil price at $60 per bblReuters - Sunday, August 30 US-BUSINESS SummaryReuters - Sunday, August 30 Enlarge Photo The Aquos liquid crystal display televisions of Japanese electronics maker Sharp Corp., are displayed at a retail shop in Tokyo, Friday, Aug. 28, 2009. Japan's key consumer price index, which excludes volatile fresh food prices, tumbled a record 2.2 percent in July from a year earlier, according to the Ministry of Internal Affairs and Communications. The figures come just two days before the country holds lower elections, widely seen as a referendum on the ruling party's handling of the economy. (AP Photo/Koji Sasahara) Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Michael Jackson's death homicide: coroner Kidnapped US girl walks into police station 18 years on Tick saliva could hold cancer cure: Brazilian scientists Boeing delays 787 Dreamliner first delivery to late 2010 Microsoft apologizes for photo gaffe View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Saturday, 29 August 2009
Iceland to pay back Icesave cash
Chip maker Intel raises revenue forecast
Iran slows nuclear work but pressed on bomb suspicions | International |
Iraqis mourn death of key Shi'ite party leader
Tick saliva could hold cancer cure: Brazilian scientists
Big Blue dreams of a big green battery
Dutch court blocks girl's solo global sailing bid
Nixon enlisted secret service to spy on Ted Kennedy
Iran president wants opposition leaders punished
U.S. unveils new rules on border searches of laptops
Eulogies for Iraqi Shiite leader reflect worries
Scots divided over release of Lockerbie bomber | International |
South America tries to ease rift over U.S. military | International |
IAEA extends probe of alleged secret Syria atom site | International |
Flixster's Movies aims to connect film fans | Technology |
Opposition looks to reshape Japanese economy
Flat incomes raise doubts about economic recovery
NKorea to free SKorean fishermen as tensions ease
Obama's aging czar sees issue as unifying force
Ohio soldier made 2 calls to mom telling of abuse
Fla. governor taps ex-aide to replace US senator
Australia debates whether Aboriginal policy racist
Kennedy memorial speakers include family, friends
Dozens hurt by ammonia leak at Calif. meat plant
South American leaders attack US bases plan
Malaysia Muslims protest proposed Hindu temple
August deadliest month for US in Afghanistan
Myanmar fighting forces up to 30,000 to flee to China
California governor declares wildfire emergency
Officials close public viewing for Sen. Kennedy
China urges Myanmar to end conflict in border area
US service member killed in Afghanistan
Coroner: Slain pastor had gashes to neck, chest
India sentences Muslim militant to life in prison
AP NewsAlert
AIG's Taiwan unit gets three low bids-sources
Apple seals deal to bring iPhones coming to China
China Shenhua says 1H profit up 14 pct
iPhones coming to China after Apple, Unicom deal
China shares drop on worries liquidity might fall
PetroChina says 1H profit down 7.2 percent
Mary Mary still going strong 9 years later
US-ENTERTAINMENT Summary
Court throws out FCC cable ownership limit
Jackson death a homicide, criminal charge possible | Entertainment |
Charges against Japanese artist dropped in NYC
Label has high hopes for Whitney Houston comeback | Entertainment |
Chesney, Swift, Sugarland to appear on ABC special
Idol champ Kris Allen sets release date for album | Entertainment |
Gypsy trio criticizes booing of Madonna
Big screen evolves to compete with small
Flixster's Movies aims to connect film fans | Entertainment |
Fay Weldon paints bleak picture of future in novel | Entertainment |
Dutch court blocks girl's solo global sailing bid
Iran has slowed uranium output: UN agency
Iran slows nuclear pace but bomb suspicions grow | International |
Internet Age re-inventing music business: Bandwidth
Michael Jackson's death homicide: coroner
Iran slows nuclear work but pressed on bomb suspicions
Argentina to adopt Japanese standard for HDTV
Taiwan president has no plans to meet Dalai Lama | International |
IAEA extends probe of alleged secret Syria atom site
Candidates woo voters on eve of Japan election | International |
US envoy in 'testy' election meeting with Karzai
Eulogies for Iraqi Shiite leader reflect worries
Fresh Myanmar fighting erupts, one dead in China | International |
Suicide bomber kills four in northern Iraq | International |
Ahmadinejad says Iran opposition leaders should be punished
South American rift persists over US-Colombia deal | International |
Australian navy intercepts suspected asylum seekers | International |
Candidates make final pitch on eve of Japan election
5 dead, 18 missing after ferry sinks in Indonesia
SKorea ready to receive fishermen from NKorea: police
Central Beijing shut off for National Day rehearsals
Foster parents arrested in disappearance of boy
NZealander tells of mid-Pacific sailing nightmare
AP NewsAlert
China Unicom in 3-year deal for Apple's iPhone | Technology |
Alleged leader of Phillipine kidnapping extradited
Mexico: anti-Mexican discrimination in US growing
Cricket: Hussey's century helps Australia shake off Ashes agony
Pakistani court: Lift curbs on nuclear scientist
Questions arise over how kidnapper went undetected
DJ AM, who battled drug habit, found dead in NYC
Congressman: Gadhafi won't stay in Englewood, NJ
Boy goes missing in rough NC surf caused by Danny
Utahns can now practice DUI jail call
China comes to Canary Wharf company's rescue
China to scrap higher tariffs on auto parts imports: US
DJ AM found dead in New York apartment | Entertainment |
Noel Gallagher quits Oasis | Entertainment |
Spanish album an unexpected Plan for Furtado | Entertainment |
DJ AM, who battled drug habit, found dead in NYC
Noel Gallagher quits British rock group Oasis
Clapton, Hornsby to perform on new Leno show
Noel Gallagher quits Oasis
Last chapter arrives for 'Reading Rainbow' on PBS
Kelly Preston: 'Too soon' to talk about losing son
`Always Sunny' live tour adds second Philly show
Jackson death ruled homicide, focus on doctor
Mexico expects 15,000 dancers for 'Thriller' dance
Isolde alone cannot save this production
Second black box of crashed Yemenia jet retrieved
US shuttle Discovery lifts off
Karzai extends Afghan vote lead; run-off indicated | International |
Wall Street confidence rising but Sept peril looms
Bombs in northern Iraq kill at least 15
Pakistan holds Mumbai conspirators' trial in secrecy | International |
Lockerbie bomber says backs call for inquiry | International |
12 killed, over 40 wounded in northern Iraq attacks
North Korea returns South fishermen after a month | International |
Lawyer says Iraqi shoe thrower to be released
Iranian FM Mottaki in Baghdad
Iran says report confirms atomic work peaceful | International |
Afghan vote fraud claims gather momentum
Peacekeeping civilians kidnapped in Darfur | International |
Obama: No turf wars, red tape in Katrina recovery
India loses communication with lunar satellite
Pakistan court delays case against Mumbai suspects
Lockerbie bomber backs inquiry into attack
3 killed, 17 wounded in restive southern Thailand
Space shuttle blasts off, finally flying on try 3
Pakistan holds Mumbai conspirators' trial in secrecy
1 killed, 17 wounded in restive southern Thailand
SC GOP reps to discuss impeaching philandering gov
Michael Jackson's death homicide: coroner
Taiwan stresses no politics in Dalai Lama visit
North Korea frees 4 South Korean fishermen
Funeral Mass for fallen senator begins in Boston
Philippine Muslim extradited to US for kidnap
US has alternative to Europe missile sites: report
Wounded CBS journalist at hospital in Afghanistan
Pakistan sets 10 bln rupees target for Islamic bond
Pakistani c.bank buys 22 bln rupees of govt paper
Opposition looks to reshape Japanese economy
Jackson death ruled homicide, focus on doctor | Entertainment |
Free download Bollywood tribute to Michael Jackson
Spanish album an unexpected "Plan" for Furtado
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01