Nations around the world are racing ahead with injecting cash into their own struggling economies. The Japanese Prime Minister has decided to make a contest of it. For the second time in last than two months, Japan is injecting billions of dollars into the economy. The package includes tax breaks, money to prop up financial markets, and relief for consumers. The previous transfusion featured cash payouts to consumers to encourage them to spend and tax credits for small businesses to help them survive. Europe has also taken coordinated action and the French president admits the plan isn't entirely new but to him there's virtue in coordinating the $260 billion that will find their way to the car sector, infrastructure, banks, small and medium sized businesses and cash strapped households. But not everyone agrees on the route to recovery and Germany is reluctant to engage in the spending, but still Germany is signing on. That disagreement underscores the uncertainty and this analyst says world leaders can now only stand back and wait. But he predicts the stimulus won't have much impact on ending the financial crisis.
GlobalPost.com is now PRI.org
GlobalPost and PRI have joined forces to expand in-depth global news reporting to create a more informed, connected and empathetic world.Learn why See GlobalPost stories Dismiss