Japan follows Taiwan’s examples and decides to give each citizen 12000 JPY to spend in order to save the economy. This means each Japanese will get more than 120 USD.
The total value of the plan is about 20 billion USD. Is this a sign that the Taiwanese plan might have actually worked?
The second largest economy in the world shrank 3.3% in the last quarter, the annually contraction rate being 12.7%. Most prognosis did not indicate such a deep contraction.
If this contraction continues, Japan will soon lose its status of world’s second largest economy.
But, the Nikkei index only fell 0.4%. This might only mean that a deeper fall will soon follow or that it starts recovering, but was pushed back by the announcement.