Date: Wednesday, 28-December-2011, 1:47 AM | Message # 1
-- dragon lord--
Japan has lifted its self-imposed ban on exporting arms. The decision, announced by Chief Cabinet Secretary Osamu Fujimura comes amid growing concern on rising costs and public debt.
A landmark agreement with China to promote direct exchange of their currencies is also set to ease debt worries. Currently businesses in both countries need to buy US dollars before converting them into the desired currency thus adding extra costs.
The move is a blow to the dollar but Tokyo and Beijing agree it will help promote economic growth in the region.