Japanese Business Leaders Vow To Cooperate With Government

Japan’s business leaders on Thursday expressed their resolve to take measures to ensure the nation’s economic recovery, in cooperation with Prime Minister Shinzo Abe’s government.

In a New Year message, Japan Business Federation Chairman Sadayuki Sakakibara said, “Abenomics has steadily achieved certain results, bringing the exit from deflation into sight,” referring to the premier’s economic stimulus campaign.

“We face the moment of truth as to whether the Japanese economy can return to the path toward full growth,” said the head of the lobby for major firms commonly known as Keidanren.

Sakakibara also urged the Abe administration to clearly show the world how Japan will improve its fiscal health, which is the worst among major developed countries.

Akio Mimura, chairman of the Japan Chamber of Commerce and Industry, underlined that the country must tackle “structural issues,” such as population decline and weakening regional economies.

In order to address such problems, Mimura said, Abe as the head of a “stable” administration following victories in a series of parliamentary elections, is required to implement reforms to ensure growth, even though they might cause “pain” to some sectors.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza