Aging society hits Japan&#39;s economy
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Japan&#39;s economy will be the most severely affected among industrialized nations by population aging, Kyodo News said Thursday.
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The number of Japanese who have lived 100 years or more surged to a record-high 23,038 in 2004 in the world&#39;s longest-living country, the government said Tuesday.
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Japanâs Nikkei index has lost a third of its value since July, and the Tokyo Stock Exchange has lost $1.3 trillion in value â equivalent to the entire economy of Canada.
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Japan is the world&#39;s second largest economic entity, after the United States. Its economic clout is felt worldwide. It is the second largest financial supporter of the United Nations.
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Slow growth in Japanese bank loans has ignited concerns that the world's second- biggest economy may head into a recession.
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Japan&#39;s central bank downgraded its assessment of the economy for the first time in more than a year Friday, citing weakening industrial production and slowing export growth.
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TOKYO: Japan&#39;s Cabinet yesterday endorsed a draft 82.18 trillion yen ($788.7 billion) national budget for fiscal 2005, increasing overall spending to care for an ageing population and to pay interest on government debt.
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A top Japanese business leader expressed hope Monday that the impending betrothal of the emperor&#39;s only daughter would help bolster Japan&#39;s economy, now showing signs of a slowing recovery.
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Prime Minister Yasuo Fukuda said Tuesday that Japan's economy was continuing a recovery despite recent turmoil in financial markets over fears of a global recession.
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Japan's economy, the world's second largest, grew more quickly than many experts forecast, state figures show.
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Japan's economy will likely expand 1.6 percent in the fiscal year starting in April, slower than the expected pace for the current fiscal year because of dwindling capital expenditures and housing investment, the government said Monday.
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Japan&#39;s Cabinet on Monday endorsed a draft 82.18 trillion yen ($788.7 billion) national budget for fiscal 2005, increasing overall spending to care for an aging population but trimming general and defense outlays.
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Japan&#39;s economy grew 0.3 percent in April-June from the previous quarter, less than the 0.4 percent growth rate initially estimated, the government said Friday.
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Retailers such as Ito-Yokado got a lift after government data showed activity in Japan&#39;s service sector rose in June as a wide range of businesses including retailers and restaurants enjoyed a recovery in customers.
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Economic growth in Japan slows down as the country experiences a drop in domestic and corporate spending.
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China and other developing countries are demanding a bigger say in the aging institutions that superintend the world economy.
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China is aging. According to statistics, citizens aged 60 and about account for nearly 11 percent of its 1.3 billion people. China is focusing on improving its insurance system to cope with the aging population