Japan’s austerity lessons, Gender Balance Index 2020 and more
THE WEEKEND REVIEW
Latest opinion and analysis from OMFIF around the world
2-6 March 2020, Vol.11 Ed.8
Japan’s austerity lessons: They say insanity is doing the same thing over and over but expecting different results. Judging from recent media reports, you would have to conclude that Japanese governments are insane. Japan has been trying for years to rekindle growth and boost inflation. In 2014, however, it raised its consumption tax to 8% from 5% and the economy tipped into recession. Last October it raised its consumption tax to 10%; the economy shrank at an annualised rate of 6.3% in the fourth quarter of 2019, writes Marco Annunziata.