Word: nikkei
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...Tantallon Research Japan, argues that when falling prices are factored in, the country's nascent recovery is weaker than recent positive GDP growth numbers suggest. "We've got the consumer price index falling by 2.5%, wages falling by about 2.0%, winter bonuses falling by about 14%, and the Nikkei (stock market index) going down," he says. "All the growth we're seeing is because of arithmetic." Complicating matters is the strength of the Japanese yen, which has gained 6% on the dollar in the last three months. Prices generally decline in a strong currency environment; a rising yen cuts into...
...Thankfully, in the face of mounting bad news on the budget front, Hatoyama is not stubbornly clinging to pledges of fiscal austerity. Major spending cuts have been rendered unrealistic by the current economic climate. Falling real wages and low business investment mean Japan's recovery is fragile. A recent Nikkei newspaper survey showed that 38% of top Japanese executives rated the likelihood of another downturn next year as high or somewhat high. The biggest risk, cited by 69% of respondents, was "the effect of fiscal stimulus measures wearing off." Hatoyama appears to be willing to continue stimulus spending under...
...nation's largest Brazilian community. After immigration laws relaxed in 1990, making it easier for foreigners to live and work in Japan, Brazilians have grown to be the country's third largest minority, after Koreans and Chinese. But as jobs grow scarce and money runs out, some Nikkei ironically now face the same tough decision their Japanese relatives did 100 years ago, when they migrated to Brazil...
...programs such as Japanese-language training and job-counseling.) This particular solution to unemployment, however, is perceived as a misguided gift. "Maybe there were good intentions, but the offer was presented in the worst way possible," says the Brazilian official. The program applies to Brazilians who have long-term Nikkei visas, but restricts their right - and that of their family members - to reentry until jobs are available in Japan. The terms are vague and will probably stay that way. Tatsushi Nagasawa, a Japanese health ministry official says it's not possible to know when those who accept the money will...
...Nikkei Brazilians, Peruvians and others who have lost their jobs go home, what will Japan do? Last week, Prime Minister Taro Aso unveiled a long-term growth strategy to create millions of jobs and add $1.2 trillion to GDP by 2020. But the discussion of immigration reform is notoriously absent in Japan, and reaching a sensible policy for foreign workers has hardly got under way. Encouraging those foreigners who would actually like to stay in Japan to leave seems a funny place to start...