Business: Push for Japan

Stimulus may not be enough

To speed the lagging world recovery, the Carter Administration has consistently urged Japan and Germany to stimulate their economies so that they would buy more from other nations. The Germans have so far balked, but at the London economic summit in May, Japanese Premier Takeo Fukuda pledged to do what he could. His early measures were mild and ineffective; for example, unemployment has risen to 2.1% of the work force—low by U.S. standards, but the second highest rate in Japan since World War II.

Last week Fukuda announced a much bigger, $7.6 billion program of spending and loans,...

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