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MessagePosté le: 12/04/2018 03:43:02    Sujet du message: aid Fan Air Jordan Retro Shoes For Sale Répondre en citant

BEIJING, June 2 (Xinhua) -- As Japanese Prime Minister Shinzo Abe Wednesday decided to further delay a sales tax hike, "Abenomics" has been labeled a failure. World financial experts believe that the palliative and ineffective "Abenomics" will likely plunge Japan's economy into a "black hole."


Abe announced on Wednesday a further postponement of Japan's second round of consumption tax hike to October 2019 from April 2017, explaining that the move was to avoid a further downturn of Japan's domestic consumption.


In April 2014, the Abe government raised the consumption tax from five percent to eight percent in a bid to curb government debt. The second round of tax hike was originally scheduled for October 2015, but it was postponed to April 2017 due to Japan's economic slowdown after the first-round tax hike.


Just two months ago, Abe said he firmly stood by the second-round tax hike unless Japan suffered a serious natural or economic disaster. The latest tax hike delay indicates he broke his word.


Bloomberg News commented that Abe's decision to delay the tax hike was a big policy U-turn, and this decision would trigger doubts over the Japanese government's ability to control its debt.


The Japanese government's debt ratio was less than 90 percent in 1991, but climbed up to 236 percent when Abe came to power. According to estimates by institutions like the International Monetary Fund (IMF), the Japanese government's debt ratio currently is likely to be 250 percent.


Credit rating agency Fitch has noted that Abe's decision to delay the tax hike would "undermine the credibility" of Japan's commitment to paying down one of the world's biggest national debts.


The Wall Street Journal said that Abe vowed to bring Japan's economy back to the track of sound growth and win the war against deflation when he took office, but the further delay of the tax hike prompted questions about the Abe government's ability to keep its promise.


Investors no longer believe that "Abenomics" will succeed, the leading U.S. financial newspaper said.


The Organization for Economic Cooperation and Development said in a report released on Wednesday that overreliance on monetary policies to push economic growth by developed economies, including Japan, has proved to be less successful in the long term.


U.S. Secretary of the Treasury Jack Lew recently said at an event run by the Christian Science Monitor that Japan faced deep economic challenges and the Japanese government had failed to properly use those policy tools and overly relied on monetary policies.


"Abenomics," with its super-easy monetary policy and fiscal, tax and structural reforms as its pillars, aims to bail Japan out of its long-term deflation.


To this end, Japan's central bank set a target of two percent inflation and frequently launched "big measures" to stimulate economic growth, but this target has not been achieved yet due to structural problems.


According to the Japan Times, policies stemming from "Abemonics" are merely palliative, and the money-printing plan of Japan's central bank will only benefit hedge funds, not Japanese families.


Meanwhile, these policies also make the establishment of Japan's "Silicon Valley" and the surge of startups by Japanese enterprises vanish like soap bubbles.


Olivier Blanchard, a former chief economist at the IMF, said that the Bank of Japan would come under mounting political pressure and Japan's public debt will see a spiral which carries a high risk. Enditem


Zimbabwe's President Robert Mugabe came under increasing pressure to quit Monday as his ruling party said it would move to impeach him and the army revealed his likely successor would soon return to the country.


In a televised address late Sunday Air Jordan Retro For Sale Womens , the 93-year-old president had flouted expectations he would step down after the military's takeover, pitching the country into a second week of political crisis.


Lawmakers from his ruling ZANU-PF party said that they would take the first steps on Tuesday to force Mugabe from office after he ignored their ultimatum to resign.


"We want to get rid of this animal called Mugabe. We have the numbers Air Jordan Shoes For Sale Womens , the opposition is also going to support us," said ZANU-PF MP Vongai Mupereri.


"We are going to impeach -- the man has to go Air Jordan For Sale Womens ," said another government MP, MacKenzie Ncube Jordan Retro For Sale Womens , speaking to AFP after a meeting of lawmakers who until recently were his fiercely loyal supporters.


On Monday evening, army chief Constantino Chiwenga said that progress had been made in talks towards an apparent deal over Mugabe's exit.


Chiwenga also said the president was in touch with Emmerson Mnangagwa Jordan Shoes For Sale Womens , the ousted vice president whose sacking triggered the military takeover and Mugabe's loss of power.


"The security services are encouraged by new developments which include contact between the president and the former vice president... who is expected in the country shortly," Chiwenga said.


"Thereafter the nation will be advised of the outcome of talks between the two."


Chiwenga called for calm after Zimbabweans had celebrated Saturday at huge anti-Mugabe marches that would have been brutally repressed just a week ago.


Their joy quickly turned to despair as Mugabe brushed aside the turmoil Air Jordan Retro For Sale Websites , blithely declaring on Sunday he would chair a top-level meeting of the party that had just disavowed him.


- 'He's lost his marbles' -


Morgan Tsvangirai, the leader of the main opposition Movement for Democratic Change Air Jordan Shoes For Sale Websites , called Mugabe's speech a "complete reversal of the people's expectations".


Chris Mutsvangwa, head of the influential war veterans' association Air Jordan For Sale Websites , called for larger protests than those staged at the weekend in an effort to dislodge Mugabe.


"He's lost his marbles," he added.


Though Mugabe has struggled with public speaking in recent years Jordan Retro For Sale Websites , the wily statesman appeare.
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