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Agreement between Japan and Bermuda for the exchange of information relating to tax matters
This country note, extracted from the STI Scoreboard 2009, explores recent developments in matters relating to innovation, science, technology and globalisation in Japan.
Japan’s health-care system has provided universal access to care and contributed to the outstanding health status of the Japanese. Public spending has been kept below the OECD average through high co-payment rates and reductions in medical fees.
Japan, a relatively energy-efficient country, has been active in combating climate change. Under the Kyoto Protocol, Japan is committed to reducing greenhouse gas emissions by 6% relative to 1990 over the period 2008-12.
Japanese banks largely avoided the direct impact from the global financial crisis thanks to their limited exposure to foreign toxic assets, the regulatory framework in Japan and the small role of securitisation.
The rapidly developing Southeast Asia region is confronted with significant labour market challenges. This initiative aims to address the issues of employment and skills, especially through an interaction platform for members.
The OECD Secretary-General, Angel Gurría, explained that innovation will be one of the keys to accelerating recovery and putting firms and countries back on a path to sustainable, smarter and greener growth.
Economic forecasts for GDP, unemployment, inflation and fiscal balance
Japan is one of the countries hardest-hit by the crisis. We now see signs of a recovery in Japan, thanks to large-scale fiscal stimulus and accommodative measures by the Bank of Japan. But the great challenge today is to move from a policy-based recovery to self-sustained growth.
Japan’s health-care system should be improved by increasing its efficiency to limit costs, enhancing quality and reducing shortages. Moreover, universal coverage requires improving compliance in paying premiums.