Word: takeshita
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...latest chapter in Japan's influence-peddling scandal came to a close last week as Foreign Minister Sousuke Uno was named Prime Minister. Uno replaces Noboru Takeshita, who resigned to save his ruling Liberal Democratic Party from further embarrassment over the scandal. Uno promised political reform and pledged to "regain the confidence of the people...
...would convince U.S. politicians that they were being heard. A Japanese Prime Minister does not carry the clout of an American President or a British Prime Minister; the ability to decree change is limited. The Recruit bribery scandal has virtually paralyzed the lame-duck administration of Prime Minister Noboru Takeshita at a critical moment in U.S.-Japan relations. Says an official in the Foreign Ministry: "We have a first-rate economy, a second-rate standard of living and third-rate politicians." But the Japanese are beginning to look for stronger leadership. Cultural anthropologist Masao Kunihiro says that during a recent...
...whom had expected the dollar to drift lower this year. Their best explanation: a combination of high U.S. interest rates, which make the dollar attractive to foreign investors, and the political woes of West Germany and Japan. The Japanese have yet to pick a successor to Prime Minister Noboru Takeshita, who announced his resignation in April over a stock scandal; in West Germany, Chancellor Helmut Kohl's Christian Democrat Union has lost two important local elections this year. Moreover, even though the yield on such securities as ten-year U.S. Treasury bonds has slipped from 9.2% earlier this month...
...short term, the L.D.P. will be preoccupied with designating a new Prime Minister. Takeshita promised to resign when the Diet enacted a 1989 budget, now one month overdue. In a departing act of bravado, Takeshita defied the Diet's tradition of consensus to push the budget through the lower house without the participation of the opposition parties. They had refused to take part until former Prime Minister Yasuhiro Nakasone, in office when the most flagrant abuses occurred, testified about his role. The budget will probably become law in 30 days, and Takeshita will step down...
...least as a caretaker. But Ito, who is in poor health, has expressed his reluctance to take over, saying a "younger man" ought to get the job. Party insiders contend that Ito fears he will not be given sufficient independence. Already, a back-room struggle is under way as Takeshita and his supporters maneuver to ensure that they will continue to pull the strings. To pick someone other than a senior politician like Ito would be nothing short of revolutionary...