Word: gdp
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...over as the official ruling party, with the Diet's election of Hatoyama as Prime Minister and the appointment of ministers. That leaves 100 days for the new administration to draft a budget for the next fiscal year that doesn't increase the national deficit - now at 180% of GDP - but still holds to its costly election-year pledges. If the national budget is not prepared by the end of the year, the green shoots of economic growth could...
...Policymakers have failed to match increased job insecurity with a corresponding expansion of social welfare. It's true that Japan's public debt is approaching 200% of GDP - the highest among developed countries - which limits the government's options. Still, the state must deepen the social safety net to better cover the underserved: young workers and families. This will help reverse the population decline, rebalance growth toward domestic demand and remove the need to mitigate unemployment by propping up inefficient companies and farms. Japanese citizens will have to make sacrifices - they may have to pay more taxes, for example...
...Given its population size, the day China's per capita GDP is on par with that of the U.S. will be the day that this world collapses, due to depleted natural resources and accelerated global warming. These nations must take active steps toward reducing the effects of their commendable growth within the next 20 years or so. What's the point in getting rich if there is no world left to sustain your life, let alone enjoying your new gains? Yes, China can indeed help save the world: by not walking the same mistaken path that the supposed First World...
...Tokyo Out of the Woods? Japanese officials reported some unusual news about the nation's economy: it's growing. Japan posted annualized second-quarter GDP growth of 3.7%, marking its first expansion in more than a year and indicating a possible end to its recession. Along with positive news from Europe, the results fueled hope that a global recovery may be near (though the U.S. continues to lag). They may also cushion the thumping expected for Japan's ruling Liberal Democratic Party in Aug. 30 elections...
Second-quarter GDP growth (annualized...