Word: mizuta
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...Japanese, who agreed to the largest revaluation (17% relative to the dollar), were fretful. But then they have a special problem. Said Finance Minister Mikio Mizuta: "We just couldn't find any sympathy for our argument that a 5% growth rate in Japan represents a serious recession...
...need of actually delivering an unpleasant ultimatum. Instead, he chose to play the role of an amiable but powerful friend seeking help. "I came as a gentle spring breeze," he joked. In two days of talks with Japanese leaders, including Prime Minister Eisaku Sato and Finance Minister Mikio Mizuta, he proved a rather relentless breeze. He continued to insist that the U.S. will not drop the surcharge until it can see a clear prospect of wiping out its balance of payments deficit. He left it to the Japanese-who are well aware of their dependence on the American market...
Thus Japanese Finance Minister Mikio Mizuta echoed the sentiment of most of the 2,200 delegates, bankers and officials in Rio when he called last week's agreement "the greatest step forward since the creation of the IMF" 23 years ago at Bretton Woods, N.H. It was also a considerable personal triumph for U.S. Treasury Secretary Henry Fowler, who had to overcome the fears of skeptical central bankers that the U.S. would use S.D.R. to cover up its chronic payments deficit...
...first move was a complete Cabinet overhaul aimed at ending corruption. "Make sure you separate your public and private life," Sato warned each appointee. Among the new faces: State Minister Kiichi Miyazawa, 47, an economist who will double as director of the economic planning agency; Finance Minister Mikio Mizuta, 61, a proponent of greater capital investment in industry; Foreign Minister Takeo Miki, 59, an advocate of increased Japanese aid and development projects in the rest of Asia...
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