Word: masaaki
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...Masaaki Kanno, chief economist at JPMorgan Securities in Japan, summed up the frantic day in Asia. "Investor sentiment is in panic," Kanno said over the prospect of the spreading financial crisis dragging the global economy into a severe recession. The latest economic indicators are fueling this loss of confidence. For example, Japan's corporate bankruptcies jumped 34% in September, the largest increase since 2000, according to Tokyo Shoko Research...
...Democratic Party of Japan (DPJ), the opposition party that controls the Upper House, finally approved Prime Minister Yasuo Fukuda's third choice - Masaaki Shirakawa - for governor of the Bank of Japan. Shirakawa, 58, became the deputy bank governor in mid-March and then took over as interim governor after former central bank governor Toshihiko Fukui retired from his five-year term on March 19. The DPJ refused the two previous nominees - Toshiro Muto and Koji Tanami - over concerns that their ties to the Finance Ministry might compromise the bank's independence. The lack of a permanent leader...
...course, this doesn't mean the country is facing economic chaos. Central bank policies will continue to be carried out by Masaaki Shirakawa, who was approved by parliament last week as a deputy BoJ governor and who will temporarily take over for Fukui. But the Diet's inability to compromise with Prime Minister Yasuo Fukuda and choose a new bank chief is seen by many as unsettling evidence that Japan has reached political gridlock and could face serious problems in the months ahead. "This is the kind of thing harms the image of Japanese governability," says Jun Iio, director...
...made me think deeply about the future of Japan and reminded me of the medieval past: in the Heian period, a warrior class descended from rural peasants diminished the power of rich ruling families. History shows that the privileged and protected can't evade changing times forever. Masaaki Otani, Tadotsu, Japan...
...Shinzo Abe [Sept. 24]. I appreciate his honesty, but regret his lack of political stomach. I hope the next Japanese leader will effectively stand tall on the international stage as well as over the chaotic domestic arena, riddled with so many problems. It's our sincere, but desperate, wish. Masaaki Otani Kagawa, Japan...