Word: japanned
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...question is whether the IMF is up to the job being thrust upon it. The huge boost to its reserves exists on paper, but it's not yet clear where all that money will come from. Japan has pledged $100 billion. Gordon Brown, the British Prime Minister who hosted the G-20 summit, said the European Union would put up $100 billion and that China would provide $40 billion. But Chinese officials wouldn't confirm that amount - and even if the money is forthcoming, it still leaves $260 billion unaccounted for. At a time when governments are financially overstretched, that...
When union leader Francisco Freitas has something to say, Japan's Brazilian community listens. The 49-year old director of the Japan Metal and Information Machinery Workers called up the Brazilian Embassy in Tokyo April 14, fuming over a form being passed out at employment offices in Hamamatsu City, southwest of Tokyo. Double-sided and printed on large sheets of paper, the form enables unemployed workers of Japanese descent - and their family members - to secure government money for tickets home. It sounded like a good deal to the Brazilians for whom it was intended. The fine print in Portuguese, however...
...Japan's offer to minority communities in need has spawned the ire of those whom it intends to help. It is one thing to be laid off in an economic crisis. It is quite another to be unemployed and to feel unwanted by the country where you've settled. That's how Freitas and other Brazilians feel since the Japanese government started the program to pay $3,000 to each jobless foreigner of Japanese descent (called Nikkei) and $2,000 to each family member to return to their country of origin. The money isn't the problem, the Brazilians...
...With Japan's unemployment rate on the rise - it reached a three-year high of 4.4% in February - the government is frantic to find solutions to stanch the flow of job losses and to help the unemployed. The virtual collapse of Japan's export-driven economy, in which exports have nearly halved compared to the first two months of last year, has forced manufacturers to cut production. Temporary and contract workers at automotive and electronics companies have been hit especially hard. Hamamatsu has 18,000 Brazilian residents, about 5% of the total in Japan, and is home to the nation...
...Japan can scarcely afford to lose part of its labor force, or close itself off further to foreigners. Japan, with its aging population that is projected to shrink by one-third over the next 50 years, needs all the workers it can get. The U.N. has projected that the nation will need 17 million immigrants by 2050 to maintain a productive economy. But immigration laws remain strict, and foreign-born workers make up only 1.7% of the total population. Brazilians feel particularly hard done by. "The reaction from the Brazilian community is very hot," says a Brazilian Embassy official...