Word: hatoyamas
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...move toward quantitative easing has been expected in recent weeks, as Japan's Prime Minister Yukio Hatoyama and his administration have pressed the central bank to take steps to contain deflation, prevent another downturn in the economy, and to tame the runaway yen, now at 86 yen to the dollar compared to 93 a year ago. On Nov. 27, the dollar fell to a 14-year low against the yen, triggering concerns that the currency could start to unravel progress that stimulus spending has made on the economy this year, in part by wreaking havoc on export competitiveness...
...Shirakawa has previously said that it was not the lack of liquidity in Japan's economy, but the lack of demand that is behind the economic situation. On Nov. 20, the day that Hatoyama acknowledged deflation, Shirakawa said, "We need to work on the core reason for [deflation]: weak final demand as seen in capital investment and private consumption." Economists estimate Japan's demand shortage at around $400 billion a year. (Read: "Japan's Latest Economic Ailment: Deflation...
...Monday, Hatoyama cast further doubt on the deal, saying an upcoming review of the agreement and other aspects of the U.S. military's presence in the country by a bilateral task force will not be swayed by the 2006 pact...
...review is merely aimed at making a decision confirming the agreement, it's meaningless," Hatoyama told reporters in Tokyo. "If we already have an answer, we don't need to hold talks...
Japan and the U.S. agreed in 2006 to relocate Marine Corps Air Station Futenma to a site farther north on Okinawa in the city of Nago, but Prime Minister Yukio Hatoyama has put the deal on hold and indicated the relocation site could be changed...