National Diet of Japan Launches Economy Rebuilding Intiative
Jas Auburn, Junior Writer | January 1, 2011
Three days ago, Japan's National Diet passed a bill dedicated to rebuilding the country's economy. The bill passed with overwhelming support, and features a series of tax breaks and other financial incentives for foreign corporations to operate on Japanese soil.
"No matter how unfortunate times may be, it is our duty to continue restoring our country," said Prime Minister Hitoshi Ohira. "We are not gone, and we will not go- this bill is one of many steps on the way."
Similar laws passed in 2001, 2004, and 2009 to little effect, though legislators are optimistic on the impacts that this bill may have.