Word: kolle
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...than the last. Last month, Aso's Finance Minister, Shoichi Nakagawa, was forced to resign after appearing to be drunk (he said he was suffering the after-effects of cold medication) at a press conference during an important international meeting. "Typically recessions were good for the LDP," says Jesper Koll, president and CEO of Tantallon Research Japan, "but this time around it is sort of pathetic. The government has no credibility. Any policy that comes out now gets greeted not with just a yawn but with utter indifference...
...than exhortation is needed. "We have to give a sense of security to the population," he says. That implies, given the demographic challenge, real reform of health care and retirement benefits. Even the younger generation, Ozawa says, are "worried that they will not be entitled to any pension benefits." Koll reinforces the point. "Anything that you can do to assure the Japanese people that their retirement future is provided for," he says, "is going to go a long, long way in boosting the economy where it needs it, in domestic demand...
...them Toyota and Sony - are forecasting historic losses and firing thousands of workers; Japan's unemployment rate has spiked to 4.4%, a level not seen in more than five decades. "We have a once-in-a-hundred-year crisis and the policy response is not even average," says Jesper Koll, president and CEO of Tantallon Research Japan. "The people running the show are not politicians, not independent or accountable political leaders. The policies are run by bureaucrats...
...resigned two months later.) Despite efforts to jumpstart economic growth, including a controversial proposal to hand out $21.7 billion to the Japanese public, many think Aso hasn't done enough. "We have a once-in-a-hundred-year crisis and the policy response is not even average," says Jesper Koll, president and CEO of Tantallon Research Japan. "The people running the show are not politicians, not independent or accountable political leaders. The policies are run by bureaucrats...
...banks. (European banks, on the other hand, were responsible for 47%.) Even those financial institutions that carried some exposure - like Japan's Mizuho Financial Group, which has reported subprime-linked losses of more than $6 billion through June - are considered strong enough to ride out the storm. Jesper Koll, Japan director for Singapore-based Tantallon Capital, says Japanese financial companies "are a sideshow to what is going...