Word: junichiro
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Dates: during 2000-2009
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...country's top lenders has long been expected given Japan's chronic economic problems, and Resona's plight will only add to fears that the worst is yet to come. Curiously, however, the bank's bailout request may be something of a victory for Prime Minister Junichiro Koizumi's much-maligned financial-services czar, Heizo Takenaka. A Harvard-trained economist, Takenaka took up his current post last fall, vowing to clean up the banking sector, but powerful politicians thwarted his initial reforms. Takenaka retreated, seemingly having made yet another false start in Japan's halfhearted reform attempts. But like...
After years of wandering in the policy wilderness, Japan's financial wizards think they have discovered what's really wrong with Japan's economy. It's deflation. In January, Prime Minister Junichiro Koizumi called falling prices Japan's "most urgent policy task" and declared he was taking all possible steps to curb its ravages. Such posturing drew praise from experts ranging from Japan's economics czar, Heizo Takenaka, to the chairman of the U.S. President's Council of Economic Advisers, R. Glenn Hubbard. Front and center in Koizumi's new war is the Bank of Japan (BOJ), where Governor Masaru...
...exactly the same moment when Okuyama was promoting Japan's multilateralism, Prime Minister Junichiro Koizumi was across town paying his respects at Yasukuni Shrine?a highly controversial memorial to Japan's war dead, including an assortment of convicted war criminals. Although Koizumi later bafflingly claimed that his visit was designed to "reaffirm our antiwar position," most observers declared it a foolishly provocative affront to South Korea and China?the very nations Japan was supposedly reaching out to. By the time the evening news hit the airwaves, the prospect of Japan organizing an international peace coalition was dead...
...Right now, Japan's gargantuan banking crisis has taken center stage. Prime Minister Junichiro Koizumi and the rest of the Diet squabble endlessly over the various iterations of bank proposals recommended by Financial Services Minister Heizo Takenaka, while the national media reports with increasing confidence that one or more of the the nation's four megabanks are in danger of imminent collapse. Last week, Takenaka gave the banks a deadline: they have four months to take convincing action aimed at solving their financial crisis or risk being nationalized...
...Only two weeks ago, Takenaka had convinced the world that it could expect a set of proposals with real heft. But he, like so many before him, got mired in the morass of inertia and self-interest that is Japanese politics. Receiving lukewarm support from his boss Prime Minister Junichiro Koizumi, Takenaka has buckled. At a press briefing last week, Takenaka called his plan 'a good start.' Who says the Japanese have no sense of irony...