Word: kiichi
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Japan's Finance Minister, KIICHI MIYAZAWA, is regarded as the island of calm in the chaotic sea that passes for Japan's government. A former Prime Minister, the octogenarian was persuaded to stay on and lend a shred of credibility to an unpopular administration when YOSHIRO MORI came to power last April. So Miyazawa's unusually frank remarks last week about Japan's economy carried a particularly powerful punch. The country's finances, he said, "are near a state of collapse." The yen quickly slid to 20-month lows. Within days, Mori revealed to government insiders that he intends...
...then there was hope, in the form of more kabuki: the lame-duck Mori urging his ministers to tackle the banking system's $600 billion bad-loan problem, and finance minister Kiichi Miyazawa promising fiscal guarantees for a bailout scheme that many wonder whether the government can afford. But the task forces are meeting and ministers are huddling, and in Japan, that constitutes dramatic action. In the financial markets there was hope that Mori's puppetmasters in the beleaguered Liberal Democratic Party might just be moved to vigor in the cause of self-preservation...
...KIICHI MIYAZAWA Nov. 5, 1991?Aug. 8, 1993 Lowest approval rating: 20% Memorable achievement: Ever the magnanimous host, he bravely served as vomit receptacle for visiting President George Bush...
Japanese finance minister Kiichi Miyazawa called it "the light at the end of the tunnel": Japan?s GDP grew 1.9 percent in the first three months of 1999 after six straight quarters of contraction. The number was hailed by optimists as a sign that Japan?s moribund economy had finally bottomed out, and U.S. stocks dropped Thursday on the hint that a Japan-fueled recovery of the Asian tigers was on -? and that U.S. inflation (and a Fed rate hike) would soon follow...
...been trying to be conciliatory and quietly helpful, you might have thought that last weekend's bank-rescue agreement between Prime Minister KEIZO OBUCHI and the opposition would immediately encourage better relations with Washington. Wrong. Ever since an unproductive meeting between Treasury Secretary ROBERT RUBIN and Japanese Finance Minister KIICHI MIYAZAWA in San Francisco on Sept. 5, Miyazawa's office has dodged attempts to set further discussions with U.S. officials. And last Friday, on the eve of Obuchi's summit with BILL CLINTON, his chief Cabinet secretary abruptly canceled a meeting with U.S. Ambassador THOMAS FOLEY in Tokyo. The cancellation...