Book Authored (ISBN-10: 0824821599)

Book Authored (ISBN-10: 0824821599)
Sovereign Rights and Territorial Space in Sino-Japanese Relations: Irredentism and the Diaoyu/Senkaku Islands (ISBN-10: 0824824938)

Wednesday, December 12, 2012

$60 Billion for IMF/Third-Class Politicians Only Provide Third-Rate Policy-XXII

“Europe’s sovereign debt crisis has clearly eased from last year’s critical situation following the region’s policy efforts, but we can’t be optimistic about the situation at all … It’s important to strengthen the IMF’s financial resources to ensure the crisis is contained, and this is important not only for the euro region abut also for Asia as well as Japan,” stated by Finance Minister Azumi Jun (Japan Times, 18 April 2012). Japan pledged to provide $60 billion to the IMF at the semiannual meetings of the IMF and World Bank in Washington from April 20-22. Japan has been in trouble with its economy since 1989 and in debt over 200% of its GDP. One major reason for Japan’s pledging $60 billion is that Japan wants to become number one, against China, which is the world’s largest holder of foreign exchange reserves. By now, Japan is the largest donor, overtaking the United States. However, Japan has not asked to increase its voting rate in IMF.

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