The world should be wary: Japan’s economic woes are contagious

Japan’s surprise descent into recession is going to have big repercussions. It means the abandonment of a planned increase in sales tax. It will lead to the country’s prime minister, Shinzo Abe, calling a snap election.

Japan election may ease economic gloom

HONG KONG (CNNMoney) -- Japan's prime minister dissolved the lower house of parliament Friday to avoid a disastrous freeze in government spending, triggering elections that could result in more aggressive policies to stimulate the country's economy.