24 July 2001, 09:53 Koizumi's economic reforms can help financial markets, region - Powell
TOKYO (AFX-ASIA) - Prime Minister Junichiro Koizumi's economic
reform plans could help boost Japan's stockmarket and ease other
economic problems faced by the country and the region, US Secretary of
State Colin Powell said.
"The actions prime minister Koizumi has suggested ... deal with
these issues in a very fundamental and structural way," Powell said in
Tokyo after meeting with Koizumi.
Powell had been asked to comment on the 16-year lows reached by the
Tokyo Stock Exchange's benchmark Nikkei 225 index.
While he declined to comment specifically on the stockmarket, he
said that if Koizumi's broad reforms work, they would alleviate the
country's economic problems.
Powell also pledged Washington's full support for the reform
programme, saying a strong Japanese economy was vital to the economic
interests of both the US and the rest of Asia.
"My government fully supports Prime Minister Koizumi's economic
reform agenda and we stand ready to help him in any way we can.
"All parts of the US government will be working with their Japanese
counterparts to make those efforts successful," Powell said.
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