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In an effort to jump-start its stalled economy, the government of Japan adopted a $127 billion economic stimulus package last winter. Under the plan, income taxes will be cut by $15 billion a year in 1998 and 1999, and $59 billion will be spent on new infrastructure projects. The program represents the largest spending effort ever introduced in Japan.
Japan’s once robust economy has been in an 8-year slump. Businesses remain highly
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pessimistic about the economic outlook, and unemployment in Japan is at a 30-year high.
- How has the Japanese economy performed in recent years?Answer
- What kind of economic program did Japan adopt last winter?Answer
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