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Article: Japan's new plan to fix economy disappoints G-7.(World)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- February 21, 1998
- Author:
CopyrightCOPYRIGHT 1998 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tokyo disappointed world leaders yesterday with a tepid set of proposals that promise to do little to prevent Japan and much of the rest of Asia from sliding into recession this year.
Proposals by Japanese Prime Minister Ryutaro Hashimoto's party show that Japan still is not facing up to its serious economic problems and that it will be a chief focus of debate and consternation at a Group of Seven meeting today in London of finance ministers from the United States, Japan and Europe, analysts and administration officials said.
The proposals - which would ease rules enabling companies to purchase their own stock and allow brokerages to package bad loans ...