Word: japanned
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...question is whether world leaders will walk through it in time. In the U.S. and elsewhere, more is being done to grapple with global warming than ever before. Tighter energy efficiency standards are being passed, nations like Japan are pledging deep emission cuts and hundreds of billions of dollars are being spent on green stimulus for recovering economies. But the world is late - and time is short. "Our political method has so far failed to grapple with reality," says McKibben. "We have to understand that the negotiations aren't just between the U.S., the E.U. and China. We're trying...
Moisseev noted that a plane ticket from Moscow to the Russian port of Vladivostok on the Sea of Japan is four times as costly as a ticket connecting Vladivostok and any major city in China or Japan. It takes just hours by train for anyone in Vladivostok or Khabarovsk, separated by China by the Amur River, to reach Chinese commercial hubs like Jixi and Shuangyashan. It takes nearly a week to get to Moscow. In Khabarovsk, the Lada, the boxy, no-frills Soviet compact ubiquitous in European Russia, is vastly outnumbered by Toyotas, Nissans and Hyundais on the highway connecting...
...inconceivable that Tokyo will simply allow JAL, which was owned by the government until it was privatized in 1987, to fail. The airline has already been bailed out three times since 2001, and was guaranteed 80% of a 100 billion yen emergency loan by the previous administration. On Thursday, Japan's new Prime Minister, Yukio Hatoyama, said "public support may become necessary" for JAL and that he wants to finalize restructuring plans for the company "as soon as possible," on the sidelines of the G-20 meeting in Pittsburgh. Government officials "definitely don't want Japan's flagship carrier...
...There's no word yet on whether the government will provide the airline with additional funding in exchange for an ownership stake. Hatoyama's handling of the situation is being watched closely because it could signal whether Japan's new ruling party, the Democratic Party of Japan, will take a harder line on Japan Inc. than the Liberal Democratic Party, which recently lost power in parliamentary elections after nearly 54 years of unbroken rule. (See pictures of the global financial crisis...
...Bankruptcy, though, is not seen as an option because of the harmful ripple effects it could inflict on Japan's struggling economy. "If JAL [significantly] shrinks domestic routes, other political problems might emerge" as prefectural airports lose traffic and money, says Hosoya. In the past, the government has typically propped up airlines to maintain routes and the number of airports - which are often a source of local pride rather than a reflection of traveler demand. "Basically, the country is losing money to save the network," Hosaya says. Soon it may be losing money to save its largest airline...