Tokyo shows progress in reform measures

Article Abstract:

The government of Japan has unveiled a comprehensive plan to help financial institutions such as banks through a tax-funded bailout plan and the infusion of public funds into the system. The parliament plans to spend some $235.8 billion on banks to help restore their failing balance sheets. Small banks will also be offered a one-year grace period to fulfill new capital-reserve requirements as a precaution against bad debts. Other parts of the plan concern the granting of permission to businesses to sell foreign currencies by April 1, 1998 in order to improve competitiveness for financial services.

Public Finance Activities, Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Corporate Taxes-Savings Incentives, Banking industry, Management, Japan, Banks (Finance), Tax incentives

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Analysts say spending package may have limited impact

Article Abstract:

The Japanese government is bent on pulling the country out of its economic quagmire. The Finance Ministry has allocated 14.2 trillion yen to its stimulus plan. Under the plan, about 5 trillion yen will be used for direct government spending on public works. However, many economists claim that the stimulus package is focused on the same combination of public spending, subsidies and weak deregulation. According to them, such strategy has previously failed to spur economic growth.

Planning, Evaluation, Government spending policy, Japan. Ministry of Finance

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China seeks to trump Japan: Beijing is pushing to change the region's economic pecking order

Article Abstract:

International economic observers are taking a second look at China for its potential to reign as the economic superstar of Asia, usurping the position from Japan. The viewpoint comes from China's expected growth for 1998, about 6%, compared to no growth for Japan. China has also acted as a balancing force in the shaky Asian economy, bolstering its currency instead of depreciating it, which would have sent shockwaves throughout the Asian economic scene.

China, Asia

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