On the 20th Anniversary of the start of Japan's "lost decades", the government of Japan is announcing yet another plan to stimulate their economy.
Japan’s four-month-old Government, already reeling from a political funding scandal and dwindling public support, today vowed to enlarge the economy by 150 trillion yen (£1 trillion) and haul the nation out of a “long, downward-sloping tunnel”.
The Democratic Party of Japan said that the scheme would deliver annual real GDP growth of at least 2 per cent between now and 2020 and create more than 4 million new jobs over the same period....
Halfway through the Government’s ten-year plan, Japan's debt relative to GDP may rise to 246 per cent, according to analysts from the International Monetary Fund.
The ambitious ten-year plan would see Japan shift some of the focus of its giant economy, with new emphasis placed on environmental technology, science, tourism and medical care.
The growth blueprint, which some investors said “smacked of desperation”, also vowed to expose Japan more closely to growth in Asia....
Will America still be trying to stimulate our economy our of recession 20 years from now? Somehow I don't think we have that option.