Japanese Privatization Minister Warns Economy Still Shaky

June 16, 2006
Heizo Takenaka, the minister leading a privatization drive, said June 16 that Japan's economy was still shaky despite its heralded recovery.  "When everyone said the Japanese economy was bad three or four years ago, I wasn't that pessimistic, but now, ...

Heizo Takenaka, the minister leading a privatization drive, said June 16 that Japan's economy was still shaky despite its heralded recovery. "When everyone said the Japanese economy was bad three or four years ago, I wasn't that pessimistic, but now, when people say the economy is getting better, I don't really feel optimistic," Takenaka told a panel of the World Economic Forum for East Asia.

Japan's economy grew at an annualized 3.1% revised first-quarter figures showed; the latest sign that Japan has snapped out of a decade of economic doldrums.

Japanese share prices posted their biggest fall earlier this week since 2001, largely on concerns over the U.S. economy, although they made up for the losses by June 16. Many analysts say the turbulence is a natural reaction to a fast rise on the Tokyo market, which gained 40% in 2005.

Minister Junichiro Koizumi, who steps down in September, has been a staunch supporter of privatization, winning a landslide election victory last year campaigning on breaking up the post office's giant monopoly. "What we face now is whether Koizumi's successor really can take over his reforms," Takenaka said.

Copyright Agence France-Presse, 2006

Popular Sponsored Recommendations

Decarbonization Navigator: A Toolkit for Organizations

Sept. 28, 2023
The increasing urgency of addressing climate change along with stakeholder pressures are driving the need for organizations to prioritize decarbonization. Discover how to start...

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

Lean Manufacturing in the Age of the Industrial Internet

Oct. 24, 2023
Read how advanced MES capabilities can help you improve your labor utilization, reduce WIP, and optimize your production. Download the white paper today.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!