Word: ohira
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...second half, a trend that will accelerate sharply in 1976 (see chart). To make sure it happens, Schmidt and Giscard agreed a fortnight ago on a joint $5.5 billion pump-priming effort ($2 billion to be spent in Germany, $3.5 billion in France). Japanese Finance Minister Masayoshi Ohira has also promised further steps to stimulate demand. Yet as welcome as that news may be, it will mean little to the 15 million jobless in Europe, Japan and North America. Global unemployment, according to the OECD, will not begin to decline until mid-1976, and it may rise further before then...
...speculation that followed Tanaka's announcement that he would resign as Premier, Miki was barely even considered a dark horse. It was widely assumed that only two L.D.P. elders, both with the backing of strong factions within the party, had a chance of succeeding Tanaka: Finance Minister Masayoshi Ohira, 64, who enjoyed the outgoing Premier's support, and former Finance Minister Takeo Fukuda, 69. Although he had previously been a candidate for the premiership, Miki (see box following page) could count on the backing of only a minor bloc within the party. Moreover, he had the reputation...
...L.D.P. chief was entrusted to one of the party's most respected elders, its crafty Vice President Etsusaburo Shiina, 76. Often working late into the night, Shiina met with faction leaders, party elders and Diet backbenchers. From these conversations, he concluded that the selection of either Fukuda or Ohira might fatally split the L.D.P., ending its 25-year domination of Japanese politics. Shiina was also aware that the public had become seriously disillusioned by factional bickering within the party and by the still unrefuted charges of illicit financial dealings that drove Tanaka from office...
...leaders and dropped a bombshell; he announced that he would recommend Miki for the party presidency because he was most qualified to bring about the needed reforms. The astounded politicians took several minutes to recover from their surprise. A nearly speechless Miki signified that he was willing. Fukuda and Ohira, however, insisted that they would first have to consult with members of their factions before consenting. As the news of Shiina's recommendation spread through the party, support for Miki snowballed, and eventually all the party leaders fell into line. Tanaka probably summed up their feelings best when...
...Cabinet will contain members of all L.D.P. blocs and thus may be more effective than Tanaka's was in pushing programs through the Diet. Even so, it is uncertain how long the ambitious Fukuda and Ohira will continue to back the new Premier. Either may attempt to undermine Miki-if and when he feels strong enough to become Premier himself. That kind of power play, however, could destroy the L.D.P. and plunge Japan into political instability...