Japan Creates $99 Billion Stimulus Plan

By: Blayne Sim

Japan's Prime Minister signed into affect a stimulus plan that will see the country spend $99 billion. Japan is the world's second-biggest economy, and is in it's deepest recession since World War II. The plan will help to finance laborers and create structural projects for workers to be employed for. The recent world economy slump has hit hard in Japan because people around the world are backing off of buying cars and gadgets, two products very important to Japan's economy. I think this is a good action by Japan. We saw Pres. Obama last week asking world powers to initiate stimulus plans in their own countries. Now we see something of the type starting to take place. This may also start to create new markets in Japan. They need to better diversify what they offer. With the slowdown in the auto and technology industries, Japan's markets have free-fallen. If they were better spread out and better diversified, this wouldn't be as big of an issue. This stimulus package is a step in the right direction. Now we need more of the international powers to begin to buy into the theory. Together is the only way the world can carry itself out of this reccession.