Japan welcomes downgrade

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Japan welcomes downgrade THE Japanese Minister of Economy, Trade and Industry Banri Kaieda used the last day of the World Economic Forum in Davos to claim that Standard & Poor’s downgrade of Japanese debt this week was “good timing”.The minister said that the downgrade would help to spur public debate towards tackling the debt. “Japan’s fiscal situation is very difficult and… the tax and national debt balance need to change. That will be a step forward,” he said during a panel discussion.Japan’s government debt for 2010 is estimated at well over 200 per cent of its GDP. Its deficit is lower than some others’, at seven per cent, but there are concerns that the debt is simply too large to address in light of sluggish growth.Earlier in the day, Japanese Prime Minister Naoto Kan – who took over in the job in June – had emphasised that Japan is eager to open up its economy further by signing free trade agreements.“There is growing concern in Japan that in the midst of its economic stagnation the minds of its people, including the youth, are becoming inward-looking,” he said to delegates.“This spirit of opening up the nation is now called for in Japan. With this belief, this year, I have set ‘the third opening of Japan’ as a grand objective. One specific policy is the promotion of economic partnerships,” he added, indicating that the government would promote the Doha free trade negotiations and the trans-Pacific partnership agreement.The S&P downgrade threw the spotlight on Japanese public debt, embroiling the country in a global sovereign debt crisis that has so far focused mainly on the eurozone and the US deficit. whatsapp KCS-content More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPuffer fish snaps a selfie with lucky divernypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com whatsappcenter_img Sunday 30 January 2011 10:28 pm Share Show Comments ▼ Tags: NULLlast_img read more

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