Japan may soon announce the details of an economic stimulus package to help the country's citizens cope with increased fuel and food costs, while governments across the world are grappling with how to boost dwindling economic growth.
In the U.S., a tax rebate earlier this year brought about $80 billion to the national debt, but consumers chose to spend less than $20 billion, with the rest going into savings and debt payment, according to recent data.
Meanwhile, recent figures showed the housing downturn was not over and the financial sector was still reeling in the grip of the crisis.
In Europe, in Spain, which was hit by multiple shockwaves from the credit crunch this year, the government has launched a stimulus package worth about 40 billion euros ($58.8 billion) in total to fend off recession. Noises in favor of stimulus packages have been heard in other countries of the euro-zone as well.
But analysts are skeptical that these plans would work, as they do not address the fundamental imbalances in each country, and accuse governments of following political, rather than economic, agendas.
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