Japan steps in to spark its sagging economy

Japan announced a broad plan to boost its sagging but still powerful economy, including a 1 percent cut in the bank rate, more public-works spending, aid for industries, and a drive to increase industrial exports. The measures contrast sharply with current thinking by US and British authorities, which goes against public spending and government interference in the economy.

The prospect that Japan's already powerful exports might be boosted by the measures means that the plan will be scrutinized closely in West Europe and the Unit ed States.

of stories this month > Get unlimited stories
You've read  of 5 free articles. Subscribe to continue.

Unlimited digital access $11/month.

Get unlimited Monitor journalism.