Japan's Pension Spending More Than 10% Of GDP
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In march by 2010 so fiscal year, the Japanese public pension plan expenditure to 6120 billion ($7833 billion), beyond the Japanese 10% of GDP.
The nihon keizai shimbun, the Japanese government announced Monday data display, each member of the pension delivery of people need to 1.8 name labor support. This kind of situation in public and family financial pressure. Reports to data in 2005 Midwest states, pension spending percentage of GDP to about 6%, the organization for economic cooperation and development (OECD) national average of 7.2 per cent.
Japanese prime minister JianZhiRen the day before yesterday, said Japan will reform social security system, aim to enhance Japan 5% GST to cope with because work, its population is shrinking and increasingly aggravation of the elderly care costs. Japan's health, Labour and welfare points out, 2009 fiscal expenditure has reached new highs, reach retirement 6120 billion, more than fiscal 2008 2.8%. In the past 10 years, Japanese pension spending has soared more than 30%. 2016 March so far the fiscal year, the pension costs are expected to climb near to 59 trillion yen (90 billion) in March, 2026 so fiscal year will to 6.4 trillion yen ($1 trillion proterozoic).
Japan's central bank could cut rates further to stimulate investment; The government also plans to increase the fiscal expenditure, promote economic recovery.
Economic downlink next to continue
Japan's government announced the relevant data show that Japanese economy this year July to September appear 1.8% economic slowdown annualised, this number than originally 0.9% of market expectations. While the government estimated in the year to the third quarter gross domestic product (GDP) deceleration annual rate is 0.4 per cent.
This is Japan's GDP after the second quarter this year, after shrink 3.7% for a second consecutive quarter present negative growth.
However, the Associated Press reported, the official's third quarter data fail to fully reflect originated in America's financial crisis impact on the global economy.
Mitsubishi UFJ securities high-level economic analysts deer wild LongZhi (transliteration) said: "the Japanese economy will be in the fourth quarter, further recession... recession may continue at least until next march for the fiscal year ended."
Just recently, Japan's central bank to bank in Japan this fiscal year economic growth is expected from July 1.2% of downgrading of 0.1%.
Economic and fiscal policy regulation reform bear with XieYe did minister, said: "in the next year, Japan must with greater patient implement policies, and promote economic development."
Demand atrophy investment dropped
The Associated Press said, global economic weakness leading Japanese goods mainly export destination consumers purchase demand atrophy. This includes both Europe and America and other developed countries, including China and some other emerging developing countries. Japan domestic consumption demand also affected by the economic situation affected and decline.
In addition, the yen appreciation since October started, making greatly small Japan export enterprises in overseas competitiveness setback, in Japanese yen calculation of profits.
The famous Japanese carmakers Toyota automobile industry company has to make this net profit expectations down to 550 billion yen ($60 billion) last year, only a third of mankind.
Many enterprises have corresponding cut the production scale or slow down production speed. Bank of America economic analysts cane Wells naokou (transliteration) said: "enterprise profit space for the future demand compacts, to feel pessimistic, so they had to in the following a period of time inside reduce the investment."
Interest-rate cut spending increases
Some economic analysts speculation, the bank of Japan in this case may cut rates further when, in order to reduce borrowing costs, promote enterprise investment. In October, the bank of Japan will cut interest rates for the first time in seven years, the benchmark interest rates 20 basis points to 0.3%. Cany well predict naokou, central bank next may be in February dueto benchmark interest rates to 0.1 per cent, close to "zero".
Meanwhile, Japanese prime minister taro aso invoked new package of fiscal expenditure plans, in order to stimulate economic recovery.
The yomiuri, government planning in the next three years gradually to increase 15 trillion ($1628 billion) to 20 trillion yen ($2171 billion) fiscal expenditure.
The new fiscal expenditure plans to add in late October released new spending five trillion yen ($542 million dollars) economic stimulus package, maybe for now aflagging Japan's economy brought the Gospel.
Enterprise operating conditions of accelerating deterioration
Japan more people want to retire ahead of schedule
Japanese "Tokyo shimbun 6, according to a survey released on April to November period, the surveyed 41 listed companies among employees apply for advance retirees toll increase. Analysts believe that, this shows that Japanese enterprise operating conditions of the deterioration of the faster than they as to reduce cost endeavors.
According to kyodo news agency reported that this investigation shows, Japan 41 listed companies apply for advance retired employees totaled more than 6,000 people, than last year the corresponding period additional 1.6 times. Analysts also say this kind of circumstance also means that unemployment is not only half ministry personnel worries, is also a full-time concerns.
In this survey of 41 listed companies, construction and electronic product manufacturing enterprise account for the majority of.
According to reports, Japan some enterprises to reduce enterprise operating costs, and developed a "early retirement prize" scheme, encourage 35 years old or above 40 employees voluntarily leave. Early retirement benefit is except for normal pension outside, still can get an extra subsidies.
The doha round of the meeting has been postponed
The world trade organization chief PASCAL lamy 8 announced this month, postponed the 13th to the 15th the doha round ministerial meeting.
Since the United States and other countries in some key negotiation topics on the crasher refus, member of the world trade organization will not before the end of the year is a doha frame agreement.
The world trade organization 153 member result in July to save the doha round of talks failed three key issues differences still. They are slash industry and textile products tariffs, temporarily increase agricultural tariffs to protect farmers' interests, and poor countries to American cotton subsidies. |
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2011-01-28 01:55:48 |
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