Word: japanization
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...Tuesday, Deputy Prime Minister Naoto Kan, who is also the national strategy chief, and Finance Minister Hirohisa Fujii, stressed the importance of quantitative easing to the Bank of Japan. In turn, the Bank agreed to cooperate by lending 10 trillion yen, in the form of short-term loans, to commercial banks at the rate of 0.1%, and to accept government bonds and corporate debt as collateral...
...Shirakawa has previously said that it was not the lack of liquidity in Japan's economy, but the lack of demand that is behind the economic situation. On Nov. 20, the day that Hatoyama acknowledged deflation, Shirakawa said, "We need to work on the core reason for [deflation]: weak final demand as seen in capital investment and private consumption." Economists estimate Japan's demand shortage at around $400 billion a year. (Read: "Japan's Latest Economic Ailment: Deflation...
...With demand so low, few firms will be willing to borrow which means the impact of another round of easing is likely to be limited. Masaaki Kanno, JPMorgan Securities chief economist in Tokyo, says, "The message from senior [Democratic Party of Japan] politicians is that they want the BOJ to implement quantitative easing. And this is the answer from the BOJ - reactive rather than proactive." Kanno says that the BOJ is making a kind of concession to the government and is probably reluctant to implement quantitative easing because it is not convinced that it will improve deflation, economic stagnation...
...representatives from a dozen countries, including the U.S., Japan and the U.K. met in Washington to sign a treaty intended to keep the Cold War out of the coldest place on Earth. Fifty years later, the Antarctic Treaty is still in effect, making it one of the world's most successful international agreements, with its member nations still meeting once a year. The pact calls for keeping Antarctica a continent free of weapons and reserved for scientific research alone; its signatories vow to refrain from making any claims to the territory, which is considered neutral ground. The pact fulfilled...
While the Antarctic Treaty continues to prohibit any government or military from overseeing the entire continent, Japan, China, India, the U.S. and many other countries maintain research stations there, thus claiming those areas, though not considered legal territories. But since 1996, the continent has had an unofficial flag to represent itself - a white depiction of the landmass, surrounded by light blue to indicate its neutrality...