Word: ikedas
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Double the Income. Prime Minister Hayato Ikeda's government has proposed a ten-year plan to provide many of the needed changes. But to divert the voters' attention from Japan's current political upheavals, Ikeda publicly laid greatest stress on the plan's goal of nearly doubling Japan's per capita income...
...really gotten your lights out from under the barrel." After that, there were only a few more functions: a visit to the home of Japanese Businessman Yoshishiko Matsukata, an uncle of U.S. Ambassador Reischauer's Japanese wife Haru; an embassy reception attended by Prime Minister Ikeda and hundreds of other Japanese dignitaries (Ethel wore a white lace dress-with matching hair-bows) ; a dinner given by Japanese Foreign Minister Zentaro Kosaka; and an appearance on the Japanese television program What's My Secret...
...Yamagiwa of the Bank of Japan, likes to relax by playing go-a, Japanese war game in which he astounds opponents with his daring, unbankerlike moves. But in recent weeks, torn between the need to cool off Japan's overheated boom (TIME, Sept. 8) and Prime Minister Hayato Ikeda's fear that any belt-tightening would hurt him politically, Yamagiwa, 60, has shown uncharacteristic indecision. Last week he finally hiked Japan's bank rate from 6.935% to 7.3%, the highest of any industrialized nation. Tighter money, Yamagiwa hopes, will discourage the more feverish expansion plans of Japan...
Late last winter, when he launched his ten-year "People's Income Doubling Plan," Japan's Prime Minister Hayato Ikeda decided that his nation's economic growth rate (a phenomenal 17.7% in 1960) would soon stabilize at an average 7% a year. On that basis, he calculated, Japan could boost its gross national product from null $39.8 billion to $72 billion by 1970. But last week Japan's growth rate was still clipping along at over 13%-and the Japanese economy was suffering from too much boom...
...optimistic Prime Minister Ikeda, whose political future rides on his promises of ever growing prosperity, this was medicine too bitter to take. Brushing aside the call for a higher bank rate, he contented himself with ordering his ministers to work out less drastic administrative measures for cooling off Japan's overheated boom. And he stoutly denied that the mounting balance-of-payments deficit poses any real threat to Japan's economic health. Says Ikeda blandly: "It is just part of priming the pump...