Word: fukui
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Dates: during 2000-2009
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...official: amid a bout of global financial instability not seen in years, Japan, the world's second-largest economy, has no central bank governor. Toshihiko Fukui, the current Bank of Japan (BoJ) chief, has packed his bags-his five-year term ended at midnight, March 19-and due to a political deadlock in Japan's parliament, it may be weeks before a successor is appointed...
Others see Muto as a steady, experienced hand and a pragmatic choice to replace current Bank of Japan governor Toshihiko Fukui, 72, who whose five-year term ends March 19. The University of Tokyo graduate is "an extremely competent administrator who ensures consistency," says Jesper Koll, Japan director for Singapore-based Tantallon Capital. During his five-year term as deputy governor at the Bank of Japan, Muto, 64, typically voted in line with his boss, Fukui, at policy meetings. Even though Japan faces "stagflation"-a slowing economy combined with higher inflation-Muto isn't expected to do anything radical...
...same might be said of Japan's parliament, which has been plagued by squabbling between the ruling Liberal Democratic Party of Japan (LDP), which controls the lower house, and the DPJ, whose members won a surprise majority in the upper house in elections last July. With Fukui's departure looming, politicians have been unable to reach agreement on a successor, with some DPJ lawmakers saying they prefer former deputy Central Bank governor Yutaka Yamaguchi. Business leader Mikio Wakatsuki, chairman of AXA Life Insurance of Japan, told reporters this week that it was "a national disgrace that this issue remains unresolved...
...that we had discord amongst ourselves, we just noticed differences respective to each of our economic situations...and the degree of impact," said Japanese finance minister Fukushiro Nukaga, who co-chaired the G-7 meeting with Bank of Japan governor Toshihiko Fukui. "But we're here to work in partnership to overcome this difficulty." The U.S. was "taking on the central role" Nukaga said, adding that "each country will do what they can, respectively...
...Fukui is not alone. From Bentonville, Ark., where Wal-Mart has embarked on ambitious pro-environment policies, to Silicon Valley, where high-tech venture capitalists are pouring hundreds of millions into renewable energy, 2006 was the year corporations began acting as if their existence--like the rest of the planet's--was tied to the environment. While Washington dithers, Wall Street is acting, driven by rising fuel prices that punish inefficiency and by the growing realization that climate change could ruin corporate leaders who continue to deny...