Monday, March 30, 2009

Even More Bad News for Japanese Economy

It is expected that Japanese government will announce another stimulus package later today. It will be the third such package during the time of economic recession. The main goal will be to fight against the growing unemployment that is causing havoc among the ordinary people. It should be noted here that job security is much more important to Japanese people compared to the European or American workers.

The main problem is that Japanese exports have fallen sharply in the last few months. Each month, new figures come and more bad news can be heard. So, it is now a big challenge for Japanese government and they are helpless because export can only increase when consumers in Europe and America are interested to buy more. Even in Japan, people are worried for the future and consumer confidence is very low.