Category Japan

Did the ABD and World Bank get snubbed by China’s $50 Billion Asia Bank?

On the first evening of the Asian Development Bank’s annual meeting in the capital of Kazakhstan this month, delegates from 16 countries skipped the scheduled Romeo and Juliet ballet for dinner at the Great Wall restaurant to talk about forming a totally different lender. They dined on Peking duck and tofu as China’s Finance Minister […]

Could Chinese money fatally weaken global lenders?

If you can’t beat them, outspend them. That seems to be the thinking behind a huge new infrastructure investment fund being promoted by China as an alternative to established international lending agencies. It’s a terrible rationale for starting a bank – and a good reason to reform the current international system, which remains dominated by […]

Japan’s First Sales-Tax Increase Since ’97. What does this mean?

Japan saw its first national consumption tax hike since 1997, with the rate rising from 5 percent to 8 percent. For more than a decade, Japan’s relatively low consumer taxes have been seen as a likely target for raising rates to increase tax revenue and begin dealing with Japan’s high levels of national debt. But […]