Japan renews economic sanctions against Pyongyang; PM Aso unveils $150 billion stimulus package; South Korea protests against Japanese history textbooks; Venezuela and Japan create $4 billion investment fund
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  • Reacting to the North Korean missile launch, Japan renewed for another year the unilateral economic sanctions it had imposed against Pyongyang. Measures included the tightening of money flows and a lowered cap on remittances1.

    In domestic developments, Japan formally unveiled its $150 billion stimulus package as it seeks to revive its flagging economy. Prime Minister Taro Aso stated that the plan, worth about 3 per cent of the country’s gross domestic product, was primarily aimed at protecting livelihoods and fostering future growth2.

    South Korea meanwhile protested against the Japanese government’s approval of the ‘distorted’ history textbooks that do not mention the country’s colonization of the Korean Peninsula3.

    In other developments, Venezuela and Japan created a $4 billion investment fund as a new source of financing that would fill a budget gap created by a massive downturn in the price of oil4.