Slowing economy stokes tax-rise fears in Japan

Picture expired. Japan's economy expanded just 0.3% in the October-December quarter, less than the 0.7% expansion that economists had expected AFP

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  • 5

    jerseyboy

    Japan’s growth led G7 nations in the first half of the year, but the economy expanded just 0.3% in the October-December quarter.

    And how much was added to Japan's staggering level of debt to buy .3% growth?

  • 10

    keika1628

    English teachers will be the last to get a raise and should ask for food stamps to be included in their next pay handout.

  • 7

    noriyosan73

    The slowing economy is exactly what was predicted a year ago when the consumption tax increase was proposed. Japan needs to stop trying to buy friends by spending money in foreign countries and start investing in Japan. The USA tried to buy its way out of recession and it only got more stagnation.

  • 1

    WealthBuilderBiz

    I will buy items in bulk that won't rot for years (i.e. dishwashing liquid, sponge) at Daiso before April 1st :)

  • 7

    marcelito

    Slowing down as predicted by countless experts. Watch out for the last couple of rounds of taxpayer money being given to the LDP business buddies in form of construction contracts and tax cuts ( but let`s call it "economic stimulus " as it sounds much better ) before Abenomics comes to a screeching halt. As long as the top 5% get richer, sheeple can just gaman.. - " LDP humbly asks for your understanding and co operation, thank you very much "

  • -8

    JeffLee

    Japan is actually doing a lot better than the figure indicates, as the number is aggregate, not adjusted for population growth. Japan's population is shrinking. My Tokyo business is humming along.

    The US, Canada, Australia, etc. and others pump up their population via mass immigration, giving the illusion of growth.

  • 0

    marcelito

    Jeff - a very valid point indeed. The immigration certainly contributes a lot to the growth in "new world countries" you mention. Japans domestic growth could be a lot better if they had any meaningful immigration or were able to get more women into the workforce ( which Abe talked about so many times but so far remains just rhetoric ) to increase their consumer base. Cant see that changing any time soon.

  • -3

    JeffLee

    I think before Japan decides to go forward with such measures to boost the workforce, etc., it should first examine its growth adjusted for population figures, and then decide whether there really is a "crisis."

    No Japanese wants the kind of joblessness of northern England in 1980s (while immigration numbers shot up) or the ethnic enclaves of Los Angeles.

    Countries with small and stable populations (Switzerland, Singapore, New Zealand, etc.) tend to have the world's highest social development levels. These qualities are hardly reflected in an aggregated GDP figure.

  • 6

    BNlightened

    In the end, Abenomics itself will spell the death of Abenomics in the eyes of the electorate. Other opposition parties can't dethrone Abe. Abe's own over-optimistic predictions of economic recovery, when compared to the results, can, however.

    Abe is on record, in print and other media, as having made, year after year, outlandish predictions about his fabled policies producing: strong, sustained economic growth, wage increases above and beyond inflation, virtually no pain at all caused by the sales tax hike thanks to his "new" deficit spending for "new" pork projects, and a substantial and sustained domestic manufacturing/export boom.

    Yes, all this and much, more more is supposedly coming Japan's way, thanks to Abe's "Three Arrows" (which in reality are just "Two Easy Arrows Plus A Really-Hard One Never Meant To Be Implemented.") He can't walk back what he's already promised: 2014 is swim or sink time for our beloved Dear Leader.

    So after two years of "planting the seeds" and rose-hued promising, let's all sit back and see what fruits Abenomics actually brings. Will it be the dawn of a New Age Of Recovery, compliments of Shinzo Utsukushii-Japan? Or rather, recession, exploding budget deficits, increased unemployment and homelessness, an ever-widening gap between the rich and poor, belt-tightening on the part of the young and pensioners, and more manufacturing relocating overseas to SE Asia and elsewhere? Place your bets!!

  • 0

    Mike Critchley

    Abenomics has gone hand in hand with p1ssing off their neighbors and closest trading partners, so the lackluster export sector is no surprise. If Abe had decided to be a skilled statesman instead of saber rattler, he might have had a leg to stand on. Too late for that, now!

  • 0

    ohayo206

    Abenomics is fine for the corporations and mega-conglomerates, but there will be no trickle down Abenomics here. Only the very rich will enjoy the benefits. Japanese poor and middle class will bear the brunt of these policies.

  • -1

    Jean ValJean

    Sinking ship slowing down while taking on water. Abe and his buddies will be fine when this Titanic founders. It's the rest that will have to fight to survive the icy waters.

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