Word: economice
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The DPJ plans to appoint 100 ruling politicians to oversee ministries. In order to transfer more power to the Cabinet - and away from ministry bureaucrats - the DPJ will also replace the Council on Economic and Fiscal Policy, an advisory group to the Prime Minister's office set up in 2001...
China is now Japan's largest trading partner and is the powerhouse for growth in Asia. Japan, which has helped build the region with economic assistance and technology, needs to continue to cultivate Asia's economic potential and strengthen diplomatic ties. "Japan can benefit from high Asian growth rate even...
Some argue that overtightening is not the fundamental problem, however. Former Morgan Stanley star analyst Andy Xie, now an independent economist, questions the quality of China's recent growth. "The present economic 'recovery' began in February as inventories were restocked and was pushed up by the spillover from the asset...
"When the market sees the second dip looming, panic will be more intense and thorough," he warns. Xie expects this economic slowdown to gather force in the fourth quarter, coinciding with a second-dip recession in the U.S. as inventory restocking and fiscal stimulus there, which are driving today's...
Who is right? Only time will tell, of course. But China's economic policymakers have been performing admirably since they wisely held the line on devaluing the renminbi in the 1997 Asian financial crisis. Their decisive action on a massive fiscal spending program this time around has helped the economy...