Word: ikeda
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Dates: during 1960-1969
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...Kingdom and Germany the cost of living was up 2.8% in 1962, and in France 5.4% ; Italy has undergone a 6.6% jump in the past twelve months. Booming Japan's living costs have climbed 6.8% in the first five months of 1963, enough to threaten Prime Minister Hayato Ikeda's hopes for a doubled per capita income by 1970. In Latin America, the increases are stratospheric: Argentina's cost of living rose 31.5% last year. Chile's 20.8%, Brazil...
...When the 79-year-old president of the Japanese National Railways-the world's biggest passenger-carrying railroad-retired last month, Premier Ikeda found that just about no one wanted the job of runing the debt-ridden road, which carried 5.4 billion passengers in 1962. He finally found a taker who was old enough (72) to retire and who had never run a railroad. The new president is Reisuke Ishida, an economic adviser to Japanese military governors in Hong Kong and China during World War II, who was purged by the Allies in 1946 and has since stayed...
Such steps had to be taken because last year Japanese industry-carried away by Prime Minister Hayato Ikeda's plan to double per capita income in a decade-launched into an orgy of expansion. Imports of heavy machinery became so great that ships had to wait as long as 30 days to unload, and Japan's trade deficit jumped to a record $1.5 billion. Determined to get the nation's balance of payments back on even keel, Ikeda raised interest rates, put curbs on imports, and mounted a drive to increase exports...
Last week Ikeda's government decided the reins could safely be loosened a little, lowered the official bank interest rate by 0.3% to 6.57%-back to where it was before the clampdown. Japanese businessmen were delighted, but they still managed to pull a poor mouth. Says Fuji Steel President Shigeo Nagano: "I would like to see the government now embark on a general relaxation of financial curbs, otherwise it is going to be a long, slow climb back to prosperity''-Japanese style, that...
...strings. Sato, who controls 100 Diet members of the governing Liberal-Democratic Party, pledged their votes to Ikeda. Kishi did the same with his faction. Though Ikeda, 62, would like to stick around to carry through his ambitious plan to double Japan's national income by 1970, there is now rising pressure for him to step aside as early as next spring, and he may feel obliged to repay his debt to Sato...