Word: stimulus
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...Leaf has room for five people. While the Leaf will be built first at Nissan's Oppama plant in Kanazawa prefecture, production is also planned at the company's Smyrna, Tenn., plant. Nissan will use part of the $1.6 billion in loans it received from the U.S. government's stimulus package to fit the plant with EV assembly lines...
...convert consumers into EV owners. Nissan has plans to set up a charging network on its home turf of Kanagawa prefecture in 2010, which is part of a larger initiative to promote the use of EVs in Japan through government subsidies and tax exemptions. As part of Japan's stimulus program, buyers can receive $2,500 for scrapping a gas guzzler for a hybrid or an electric vehicle. (See the 50 worst cars of all time...
...June from year-ago levels. To date, cumulative loans outstanding have topped $1.1 trillion, far higher than the government's $735 billion target for the year. Most of the money is aimed at funding infrastructure projects under Beijing's two-year, $585 billion stimulus package. But according to government researchers, about $170 billion in bank loans were channeled into the stock market from January to May, which partly explains the 87% rise in Chinese equity values so far this year...
...stimulus package includes spending to strengthen social safety nets and boost domestic consumption, such as subsidies for rural consumers to buy selected electronic goods. In an echo of America's wildly popular cash-for-clunkers car program, a new initiative grants consumers in four provinces and five cities 10% discounts if they trade old electronic goods for new ones. The amounts allocated have been criticized as piddling, but their inclusion in the stimulus spending indicates that China's planners recognize the importance of domestic consumption as a driver of growth, given the steep fall in demand for Chinese exports because...
...challenge for China is to keep wasteful spending at tolerable levels, to eventually exit the stimulus program without stalling economic recovery, and to tighten monetary policy sooner rather than later to avert runaway asset bubbles - but without killing the markets. It's a difficult balancing act, as last week's near meltdown in Shanghai shows. Having gone through the crucible of the 1997 Asian financial crisis, China's planners may be up to the task. Still, they need to be reminded now and again that ham-handed or poorly timed policymaking will hurt not only their economy, but also...