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Japan criticizes US crisis management
Tue, 16 Sep 2008 10:18:37 GMT
Japan’s premiership hopeful, Taro Aso, has criticized Washington’s failure to prevent the collapse of American financial institutions.
“There are doubts as to whether taking no action and leaving the matter unattended is the right approach," said Aso, quoted by Japan’s Jiji Press news agency.
Minister for Economic and Fiscal Policy Kaoru Yosano, who is also running for the premiership, said the crisis will strike Japan’s economy by decreasing demand for exports.
The chaos "will inevitably reduce US demand" for Japanese exports, he said.
Worldwide slowdown and growing raw material costs have already led Japan’s economy into a recession.
Taro Aso, Secretary-General of Japan’s Liberal Democratic Party, is ahead in the race to succeed Prime Minister Yasuo Fukuda as party leader. Fukuda, resigned this month amid reduced support by voters.
MVZ/JG/BGH