As Japan's infatuation with the great nominal stock market experiment continues, the government wishes nothing more than to put the great Fukushima nuclear disaster in the past, so it can restart its nuclear power plants: the critical, decisive factor if Abenomics has any chance of succeeding, as the country's economy will never recover if it has to rely on foreign sources of energy. Alas, for the time being this looks improbable and following the latest news out of Fukushima, it may be downright impossible.
Japan, the third largest economy in the world, has relied on nuclear energy to provide 30% of its energy for four decades, but this weekend it became the first major, modern economy to operate without nuclear power.On Saturday the Tomari Nuclear Power Plant’s reactor 3 shut down, leaving Japan’s energy grid completely nuclear free.Junichi Sato of Greenpeace in Japan said that, “there is an increased chance of earthquakes in Japan, so that has a significant risk to the Japanese people and the Japanese economy.
NEW DELHI: India's nuclear programme is set to get a huge boost thanks to three big changes. First, Japan has asked India for a dedicated nuclear reactor site, signaling that not only is it willing to shed all inhibitions of doing nuclear commerce with India but is also keen to be counted with the US, France and Russia as a power building nuclear parks here. Second, India is giving big contracts for six reactors each to US blue-chip companies GE and Westinghouse. This is a big shift from India's long-standing policy of signing deals for two reactors at one go.