The Wall Street Journal-20080116-Politics -amp- Economics- In Brief
Return to: The_Wall_Street_Journal-20080116
Politics & Economics: In Brief
Bank of Japan
Reports Weakness
The Bank of Japan cut its core assessment of Japan's regional economies, the first such downgrade since it began publishing its regional report in April 2005. Four out of Japan's nine regions downgraded their individual economic assessments from October. "Housing investment dropped substantially in all regions" because of a delay in construction starts in the wake of tighter building standards, the central bank's report said. The rise in oil prices was another drag on the economy. Yesterday, central bank Gov. Toshihiko Fukui reiterated his view that Japan's economy has weakened.
European Unions
Call for Carbon Tax
European trade unions called for a tax on imports from countries that refuse to fight carbon emissions. The European Trade Union Confederation said a carbon tax would keep jobs in Europe and prevent heavy industry from moving to regions with lower costs for carbon polluters.
-- Associated Press
