30 March 2001, 12:58 A key Japanese government adviser Thursday warned
A key Japanese government adviser Thursday warned in Washington
that structural economic reforms in his country continue to move slowly,
which has led to problems at banks, a difficult fiscal situation and
could potentially spill over to other economies. Taichi Sakaiya, special
adviser to Prime Minister Yoshiro Mori, told an audience at the American
Enterprise Institute that Japan's economy is still facing major problems
-- in particular a significant number of bad loans, which are an
aftereffect of the 1980s stock market bubble. Unfortunately, the
Japanese economy's structural reforms are moving slowly, Sakaiya said.
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