Word: japanization
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After weeks of calls by the Japanese government to do something about deflation and the fast appreciating yen, the Bank of Japan held an emergency meeting Tuesday - and decided what the world's second largest economy needs is more money. Central bank governor Masaaki Shirakawa announced steps to step up monetary easing by injecting 10 trillion yen (about $115 billion) into Japan's financial system. Shirakawa told reporters that these steps could be considered "quantitative easing in a broad sense." The eight-member policy board also unanimously voted to maintain the Bank of Japan's key short-term interest rate...
...move toward quantitative easing has been expected in recent weeks, as Japan's Prime Minister Yukio Hatoyama and his administration have pressed the central bank to take steps to contain deflation, prevent another downturn in the economy, and to tame the runaway yen, now at 86 yen to the dollar compared to 93 a year ago. On Nov. 27, the dollar fell to a 14-year low against the yen, triggering concerns that the currency could start to unravel progress that stimulus spending has made on the economy this year, in part by wreaking havoc on export competitiveness...
...held increasingly senior positions in Japan's Ministry of Foreign Affairs, notably as director of the Science Division, director of the Nuclear Energy Division and deputy director general for arms control and scientific affairs. (See pictures of the world's worst nuclear disasters...
...specialized in multilateral disarmament and nuclear nonproliferation negotiations over 36 years in Japan's foreign service, with postings in Washington, Brussels, Geneva and Vientiane...
...first case was an ordeal. There have been allegations of a kickback scheme where Cambodian employees at the tribunal are forced to pay back a part of their salaries to the government officials who gave them their jobs. On two different occasions, only last-minute donations from Japan allowed the Cambodian side of the court to pay its staff. Then, in a fiasco dubbed Waterlilygate, one of the international lawyers said documents found in a moat filled with lilies had been stolen from his office. And last week the New York-based Open Society Justice Initiative, an international law monitor...