Japan needs is a long term plan for sustenance.

Fearing that Japan maybe on the brink of its fifth recession in a decade and a half, its government approved a US$ 10.7 bn stimulus on Friday. This is its second package in over a month. The country would be tapping into its reserves to spend towards rebuilding areas hit by last year's earthquake. It would also be spending towards supporting employment and small-businesses. A key factor that has called for this development seems to be the 0.9% contraction in GDP between July and September this year. As for the rest of the calendar year, a similar situation is expected. The IIP data released on Friday showed a few signs of encouragement. There was a 1.8% rise in industrial production during the period September to October. However, parameters such as job losses in sectors and industries that depend on exports to the developed nations indicate a bleak outlook. This is what necessitated the stimulus. But one has to remember that stimuli are nothing but short term boosts.