Word: takeo
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...Japan it was the most spectacular domestic political shokku in years. In a move that startled ordinary citizens and politicians alike, the leadership of the ruling Liberal Democratic Party last week selected a little-known veteran politician, former Deputy Premier Takeo Miki, 67, as its president. When the Japanese Diet convenes this week for a special session at which Kakuei Tanaka will formally resign as Premier, the L.D.P. majority will ensure the election of Miki as Japan's twelfth postwar head of government...
With Tanaka reduced to caretaker status, L.D.P. leaders began the complex bargaining that will result in a consensus on a successor, possibly this week. Tanaka's own choice is Finance Minister Masayoshi Ohira, 64. His chief rival is former Finance Minister Takeo Fukuda, 69, a sleepy-looking veteran politician who was runner-up to Tanaka in the party election of 1972. Although a conservative, Fukuda has long called for reform of Japan's system of "money power," and this may make him more palatable to the party leaders as a symbol of belated reform...
...opposition parties are understandably angry over the heavy spending of the L.D.P. under Tanaka's control. The leaders of other L.D.P. factions-including Finance Minister Takeo Fukuda, Tanaka's most powerful rival-are angry too. They fear that, by controlling the purse strings, Tanaka is strengthening his support within the party at their expense. They are well aware that the huge campaign fund has helped Tanaka to field 29 candidates from his own faction of the party-as opposed to only 16 from Fukuda's wing...
...efficient industries, such as steel and shipbuilding, that are benefiting from worldwide shortages. The latest wage increase follows one of 23.6% in 1973 and an average hike of 15% annually during the previous decade. Despite Japan's legendary productivity (up 20.1% in 1973), Finance Minister Takeo Fukuda claims that the economy can no longer withstand such boosts. He feels that government-imposed "flexible wage guidelines" may be necessary...
Late last month, Tanaka appointed Takeo Fukuda, his old rival for the Liberal Democratic leadership, to head the powerful finance ministry. Fukuda, an apostle of fiscal orthodoxy, has so far done little to check the feeling of governmental drift. Although his appointment was widely praised by business leaders, it has failed to quell intraparty squabbling. "All they seem to care about is how it will affect the Upper House elections in July," said one Western diplomat last week...