Shinya Yamanaka of Kyoto University will share the Nobel Prize for Medicine with John Gurdon of the Gurdon Institute in Cambridge for their breakthrough work with stem cells. In a 2006 experiment, Yamanaka discovered a way to create tissues that would act like embryonic cells without having to harvest the embryos. The hope is that their work will lead to creating replacement tissue for anything from spinal cord injuries to Parkinson’s disease.
Effects of Senkaku/Daioyu Dispute
The ongoing feud between Japan and China over the uninhabited islands is forecasted to have negative economic impacts for this quarter. Analysts at JPMorgan Securities Japan are estimating a 0.8 contraction from the previous quarter. The Senkaku/Daioyu dispute factors heavily into the projections, with significant hits to tourism, car-makers, and other major compenents of the economy.
Free Trade with Australia
After 5 years of discussion, it seems Japan and Australia may finalize a free trade agreement soon. In a recent talk, Australian Prime Minister, Julia Gillard said that only a few hurdles remain between Australia securing a free trade agreement with their second-largest trading partner.