Arab Today, arab today japan pm warns of industrial \hollowing out\
Last Updated : GMT 23:38:44
Arab Today, arab today
Arab Today, arab today

Japan PM warns of industrial \'hollowing out\'

Arab Today, arab today

Arab Today, arab today Japan PM warns of industrial \'hollowing out\'

Tokyo - AFP

A strong yen could \"hollow out\" Japan\'s industrial heart and undermine recovery from the March quake-tsunami disaster, the new prime minister warned in his first major policy speech. Addressing a special session of the Diet in Tokyo on Tuesday, Yoshihiko Noda also pledged to reduce Japan\'s dependence on nuclear power in the wake of the ongoing atomic crisis that has forced thousands of people from their homes. he premier, sworn in less than two weeks ago, promised to deliver a strategy to revive Japan\'s economy by the end of the year and boost recovery efforts following the triple disaster in March. In a broad-brush speech that was heavy on intention but short on specifics, Noda pledged a full re-think on Japan\'s energy policy in the wake of the world\'s worst atomic accident in a quarter of a century. He pledged a new energy strategy \"by summer\" 2012, and said Japan must \"aim to minimise our dependency on nuclear energy as much as possible in the medium-to-long term\". However, he stopped short of ruling out future use of nuclear power -- something his unpopular predecessor Naoto Kan had pushed for -- and said reactors that are currently offline for maintenance would be restarted. He also warned the government\'s credibility was at stake in efforts to restore Japan\'s fiscal health. Noda said the rocketing value of the currency could break domestic industries, wipe out jobs and hamper efforts to rebuild communities destroyed in March. \"The yen\'s historic rise, coupled with catch-ups by emerging nations, has caused a crisis of unprecedented industrial hollowing-out,\" Noda told lawmakers. \"We hear screams from exporters and from the small and mid-sized companies that have led our country\'s industries. If things carry on like this, domestic industries could go downhill and jobs could be lost. \"If that happens, it would be almost impossible to break out of deflation and reconstruct areas hit by the disaster.\" The value of the yen was high even before the quake-tsunami that left 20,000 people dead or missing, and has continued to rise since, last month hitting a post-World War II high as financial uncertainty in Europe and the United States has sent global traders scurrying into the safe-haven currency. Despite three interventions in the markets in the past year, two of which were unilateral, the yen has remained strong, squeezing exporters. In Tuesday trade it stood at 77.09 yen to the dollar. \"We need to take every possible policy measure in cooperation with the Bank of Japan,\" Noda said, noting that an upcoming third supplementary budget would include emergency economic measures. As well as devastating hundreds of kilometres (miles) of coastline, the March 11 tsunami knocked out cooling systems at the Fukushima Daiichi nuclear plant, sparking meltdowns and sending radiation into the air, sea and food chain. But public confidence in the technology has been badly knocked by the disaster, which has seen tens of thousands of people evacuated from their homes around the leaking plant. \"I will draw up a new (energy) strategy and plans by next summer,\" Noda said, adding he wanted Japan to lead the world in energy-saving technology and the use of renewable energy. Noda, the sixth new prime minister in five years and one whose administration suffered an early blow with the gaffe-induced resignation of his industry minister at the weekend, said Japanese politics needed to change. He told lawmakers the country\'s political classes were facing ridicule from overseas commentators for always seeking to put off decisions, adding that Japan\'s burgeoning debt, which stands at around 200 percent of GDP, needed to be addressed now, not in the future. \"Our generation should unite and share the burdens and costs of reconstruction without passing them on to future generations.\" He said he would study \"temporary tax measures\" after striving to cut spending, sell assets and review labour costs in Japan\'s large public sector. \"Now that confidence in the country is called into question, we cannot continue fiscal management in which debt causes more debt.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan pm warns of industrial \hollowing out\ Arab Today, arab today japan pm warns of industrial \hollowing out\

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday