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Noda administration faces challenges

06-05-2012 09:20 BJT

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Let's briefly revisit that cabinet reshuffle by Japanese Prime Minister Yoshihiko Noda. --Now, the whole point of the reshuffling as we mentioned was to smooth the way for a deal with Japan’s opposition party to double the country’s sales tax. The tax increase is seen as essential in an effort to curb Japan’s biggest challenge, namely, the snowballing public debt, which has exceeded the value of two years of economic output.

So far two of the world’s three major rating agencies have rated Japan debts unfavourably. Fitch cut its credit rating in May, while S&P still puts the country’s economy on a negative outlook.

Another major test is whether Japan can avoid power outages this summer with its entire fleet of reactors idled from the Fukushima nuclear disaster last year. The government’s suggestion to restart them have critics saying authorities are downplaying the potential risks.

However Japan’s government retaliated by saying the country will avoid power cuts in the summer even if the last few nuclear reactors cease operating.



Editor:Zhang Rui |Source: CNTV.CN

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