Japan took extreme measures recently to battle inflation, proposing a 4.8 trillion Yen ($58 billion) economic stimulus plan designed to create jobs in local businesses while also helping governments within the country turn the power of an inflated Yen to their advantage.

With the Yen surging to a 15-year high against the U.S. dollar, Japanese corporations are taking a massive hit in the profits department. Nintendo Co., for example, has seen their profits fall dramatically while U.S. profits continue to rise and the numbers have forced the government to intervene in the currency market for the first time in six years.

In an effort to protect the country during their battle against inflation, the Bank of Japan cut their interest rates from .01 percent to near 0 percent and unveiled plans to buy more government bonds, real estate investment trusts, exchange-traded funds, commercial paper and corporate bonds in an effort to stimulate lending.

Bank of Japan said they would hold the interest rate at near 0 percent as long as it took to see signs of reemerging economic stability, but in essence the lower percentage rate is considered nothing more symbolic since rates have been hovering around the 0 mark for years.

The bank released a press statement, saying, “Although Japan’s economy still shows signs of a moderate recovery, the pace of recovery is slowing down, partly due to the slowdown in overseas economies and the effects of the yen’s appreciation on business sentiment.”

Japan’s set an example for other economically failing countries, but economic analysts fear their drastic attempt to restore profitability to the country will have little, to no long-term benefit. In fact, while their efforts seem drastic from an outsider’s perspective, TD Securities macro strategist, Eric Lascelles said, “Japan has taken baby steps for the last 15 years, so why be brave now? These are fairly cautious steps.”

The Financial Times doesn’t believe Japan’s efforts will bear much fruit, as they continue to lack corporate competitiveness and the industrial efficiency needed to rise against the economic downturn. With Japan often focusing their financial gain on exportation of goods, Tadashi Nakamae of The Financial Times said, “Japan has to create domestic demand for these manufacturers’ goods.”

In the wake of Japan’s drastic measures to save their own economy, the U.S. and Europe face the option of pouring further funding into their economies in an effort to stimulate growth and pull further out of the economic slump that darkened their horizons during the last three years.

The unfortunate thing is that despite how easy it sounds, there are no simple solutions when it comes to saving a country’s economy, and as the world continues clawing its way to recovery, progress continues to arrive slowly.