Japan offers $100 bn to IMF, calls on China

Japan has offered to lend the International Monetary Fund (IMF) $100 billion to help stabilize the world economy.

Japanese leader Taro Aso also called on China to contribute to the IMF. Both Japan and China depend on exports to propel their economies and they have an interest in stimulating consumption among their economic partners.

"It doesn't have to be Japan alone that would provide such funds," Aso said in an interview Friday with The Washington Post. "Oil-producing countries, China and other countries that have ample reserves could also make their contributions."

AFP
Japan's Leader Urges China to Contribute to IMF
FOXNews - 2 hours ago
Aso earlier announced that Japan was ready to lend up to $100 billion to the IMF. "It doesn't have to be Japan alone that would provide such funds," Aso ...
Japan Offers IMF $100 Billion to Fight Financial Crisis Voice of America
IMF head welcomes Japanese cash offer AFP
IMF Bailouts: Austerity Is The Answer?Newsweek

This IMF photo shows Japan's Finance Minister Shoichi Nakagawa (L) as he meets with International Monetary Fund Managing Director Dominique Strauss-Kahn in Washington, DC on November 14, 2008. Japan on Friday announced a plan to lend up to 100 billion dollars to the International Monetary Fund to help provide financial lifelines to crisis-hit emerging countries, officials said.(AFP/IMF/File/Eugene Salazar)

Massive brown cloud costs Asia

A brown cloud of smoke, pollutants and other particles that is three kilometers deep and stretches from the Arabia to the Pacific Ocean is harming the region's health and agriculture, a UN agency says.

In this Feb. 6, 2007 satellite image from NASA, a band of brown haze appears to narrow somewhat as it crosses over South Korea, center, then spreads out over the Sea of Japan toward Japan, center right. Opaque white clouds mix with the haze, especially over the Yellow Sea and Japan. According to a report commissioned by the U.N. Environment Program and released Thursday, Nov. 13, 2008, a thick brown cloud of soot, particles and chemicals stretching from the Persian Gulf to Asia threatens health and food supplies in the world, (AP Photo/NASA)

The United Nations Environment Programme (UNEP) claims that the cloud will damage hearts and lungs, and impair photosynthesis resulting in lower crop yields. The cloud will even hamper ability to monitor global warming.

CTV.ca

Brown cloud 'costs lives and crops' Aljazeera.net - 15 hours ago A brown cloud of soot and pollutants floating over Asia is killing thousands of people and damaging crops, the UN says. The environment programme (UNEP) reports that contamination from factories, fires, cars and deforestation contains particles that ... Toxic Cloud Masks Warming Effects Wall Street Journal UN Report Highlights Dangers Of 'Atmospheric Brown Clouds' RedOrbit

China announces $586 bn stimulus plan

China announced a US $586 billion economic stimulus plan Monday boosting stock markets around the world.

The new plan will help bolster manufacturing and is stabilizing commodity prices and strengthening confidence in countries that supply raw materials for manufactured goods.

Beijing will concentrate most of the money into new construction, which uses large quantities of commodities.

Japan recently announced a $277 billion stimulus plan, and US President-elect said that one of his first priorities upon taking office will be to implement a new stimulus package.

Sydney Morning Herald

China stimulus plan to bolster regional economies Sydney Morning Herald, Australia - 3 hours ago BEIJING'S mammoth economic rescue package will focus overwhelmingly on construction, raising hopes China can help to stabilise global commodity markets and ... China's stimulus package to be felt worldwide RTE.ie China Stimulus Plan Will Boost Stocks Sentiment (Update1) Bloomberg $US586b Chinese stimulus package good news for NZ National Business Review

Boston Globe

Asian, European stocks surge on China stimulus plan Business Standard, India - 3 hours ago ... 2008, 18:12 IST Asian and European stocks surged more than five per cent, as investors cheered China's mammoth $586 bn economic stimulus package, ... European shares higher in early trading MarketWatch European indexes seen up 2.9-3.6 pct -bookmakers Reuters UK