Report with ben bland. Confounding the critics japan beats expectations as it records its fastest rate of growth in more than two years. 70 years of partition we take a look at how the economies of india and pakistan have diverged since the end of british rule. Hello and a very warm welcome to bbc news of World Business report. I am ben bland. Japan has just released its latest set of growth figures, and theres been some good news for the worlds Third Largest economy. Japan has exceeded all expectations by recording growth of 1 between april and june. The numbers are an Encouraging Development for the government but dont solve the countrys ongoing financial headaches. Japans productivity per person per hour stands at 23. 45 that leaves it in 18th place in the world, well behind the us, on 33. 41, and a host of others including canada, the uk and france. The countrys debt has also ballooned in recent years. At more than 250 of gdp it has the largest debt to output ratio in the world by
China’s finance ministry has said it is in favor of the central bank resuming trading Treasury bonds, a move that would see the monetary authority dust off a rarely used tool in its policy kit.
After a crisis like the pandemic, looking only at inflation and growth does little to shape effective monetary policy, and it’s essential to go beyond. A comparison with the early 2010s holds some clues on what’s working better this time.