Word: kaifu
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Prime Minister Toshiki Kaifu said that carrying out the reforms would be painful. "However, these measures are intended to achieve a major reform of the Japanese economy in the consumers' best interests," he said...
...Kaifu praised Bush's willingness to consider tax revenue increases at the risk of a strong political backlash. Bush commended Kaifu for "his strong and courageous political leadership...
Bush has been torn between appeasing Congress and rewarding Prime Minister Toshiki Kaifu for Japan's newfound flexibility. Just two months ago, U.S. negotiators came out of trade talks in Tokyo angry and frustrated. But seven hours of meetings between Bush and Kaifu last March in California, more talking time than any previous U.S.-Japan summit, were a watershed. Shortly afterward came a flurry of agreements, including a pact on far-reaching structural reforms. Among other changes, Tokyo promised to ease restrictions on opening large department stores and to impose tougher penalties for protectionist bid-rigging schemes...
...four, and ultimately Japan agreed to far- reaching reforms that would open Japanese markets more widely than ever before to American business. At the same time the U.S. vowed to take steps to improve the competitiveness of American industry. President Bush praised Japan's recently elected Prime Minister Toshiki Kaifu for showing "true leadership," noting that "in one month we have had real success...
Political instability at home has undermined the yen as well. Prime Minister Toshiki Kaifu, 59, who is outside the Old Guard of the ruling Liberal Democratic Party, lacks the political support to serve as a bold leader. "That poor gentleman," says one Japanese bureaucrat. "They are all trying to sink him. He gets no help." While Kaifu is moderately popular, he ! is not seen as someone who can dramatically improve relations with the U.S. or boost Japan's influence in the world. Says a disappointed financier: "Japan has not emerged as the superpower that it was expected...