Asia
Japan inject ¥10.3 trillion to stimulate economy
Japan’s government has released details of a 10.3 trillion Yen fiscal stimulus package. The package seeks to instigate an investment led recovery, directly through infrastructure as well as through business investment incentives. The policy aims to boost the economy by 2% and create 600,000 new jobs. Analysts say that it is key to keep the Yen weak so as to maintain Japan’s comparative advantage in an export led economy. It is currently the world’s third largest economy, but is in recession as it has contracted during the previous two quarters. “Unfortunately, the previous administration failed to work out how to boost growth and expand the economic pie,” Prime Minister Shinzo Abe said.
North America
U.S. School shooting occurs as gun lobby prepares for Biden response
Yesterday saw another school shooting in the U.S., which saw one pupil shot, despite the gunman carrying enough ammunition to ‘kill many people’. The shooting, at Taft Union High School, ended when two teachers intervened and persuaded the man to relinquish the shotgun before being arrested. The drama unfolded just weeks after the Sandy Hook school massacre; the worst in U.S. history. The events have sparked fierce debates over the use over automatic guns and loopholes in background checks. Vice-President Joe Biden is due to present a report to the President with new recommendations on gun control, despite fierce calls from the gun lobby that it would infringe on the second amendment.
Europe
France threaten Mali militants with military intervention
President Hollande has said France is preparing to stop Islamist Militants offensive if they continue. The French announcement is a response to a plea by the Mali President for help to control the militants, who control the northern regions. The U.N. Security Council has issued a request for an African-led intervention to diffuse the current unrest. France has said they will send in troops under a U.N. resolution, who are already due to deploy 3,000 African troops due in September.
Middle East
Syria: Rebels seize military base
It has been reported that Syria rebels have seizes a military base from government forces in the north-west of the country. The reports, suggest that rebels have taken control of Taftanaz airport; a terminal for many air-based weaponry that has been used against rebels is kept. The U.S. and Russia, two opposing factions of the U.N. Security Council, are in talks in Geneva with the U.N. envoy to Syria, Lakhdar Brahimi.
Latin America
Chavez’ absent divides opinion
Yesterday was scheduled to be the inauguration of Hugo Chavez, but with his absence it is unclear who is in charge. Chavez won the last election after 14 years in power, but after being admitted to hospital last week he hasn’t officially been sworn in leaving the whole process in stagnation; the vice president can not take charge as a care-taker because he can’t be sworn in until the President is and the opposition cannot assume responsibility because it would undermine the election result. The high court ruled that his absence does not affect the status of the election outcome.
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