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Taro Aso, Japan's prime minister, on Friday launched a Y15,400bn fiscal stimulus designed to sustain an economy in its worst slump since the second world war.The Y15,400bn ($154bn, 117bn, £105bn) of new money - equivalent to roughly 3 per cent of Japan's gross domestic product - is on top of Y12,000bn of stimulus in previous supplementary budgets.Including loan guarantees and other support for companies that do not require upfront spending, the total value of the package comes to Y56,800bn.
The Y15,400bn ($154bn, 117bn, £105bn) of new money - equivalent to roughly 3 per cent of Japan's gross domestic product - is on top of Y12,000bn of stimulus in previous supplementary budgets.
Including loan guarantees and other support for companies that do not require upfront spending, the total value of the package comes to Y56,800bn.
"Japanese content, such as anime and video games, and fashion draw attention from consumers around the world," the prime minister, Taro Aso - a self-confessed manga addict - told reporters this week as he waved copies of magazines from China and Taiwan featuring Japanese pop stars on their covers."Unfortunately, this soft power is not being linked to business overseas. By linking the popularity of Japan's soft power to business, I want to create a 20-30 trillion-yen market by 2020 and create 500,000 new jobs."
"Unfortunately, this soft power is not being linked to business overseas. By linking the popularity of Japan's soft power to business, I want to create a 20-30 trillion-yen market by 2020 and create 500,000 new jobs."
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