News Summary: Waiting for relief from Japan plan

Japanese businesses watching for results as Cabinet Oks reform plans

Associated Press

THE WAIT: Prime Minister Shinzo Abe's plans for getting Japan's growth back on track after two decades of stagnation, endorsed by his Cabinet on Friday, depend on convincing businessmen to invest in that recovery.

SO FAR, SO GOOD: Abe has claimed early progress in countering the stagnation that has hobbled growth for more than 20 years through an onslaught of monetary and fiscal stimulus, after the economy grew 4.1 percent in January-March. But economists say deeper, more far-reaching changes are needed to ensure the economy keeps growing.

FOR YOU AND YOU AND YOU: The monetary easing by the Bank of Japan and heavy government spending are meant to flood the economy with fresh cash and thus push up prices and end a long spate of deflation that has discouraged companies from investing or hiring workers.

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