Critic of Japan's central bank is expected to lead it
New York Times -- Mar 15
In the late 1990s, in the thick of the Asian financial crisis, a top Japanese Finance Ministry official turned to his protégé and found him engrossed not in policy documents, but in a chunky volume of the works of Aristotle.
That bookish aide, Haruhiko Kuroda, was confirmed as the next Bank of Japan governor, one of the most thankless jobs in a major economy plagued for decades with economic problems. He will need more than Aristotelian logic to turn years of the central bank's policies on their head.
The Japanese prime minister, Shinzo Abe, who took office in December, has pointed his finger at the central bank and its seemingly hapless monetary decision-making as the root cause of the country's economic woes. The bank must take a far tougher stance against deflation, Mr. Abe has demanded, to stem the sluggish profits, spending and investment that have weighed on the Japanese economy since the 1990s.
Mr. Kuroda, 68, is tasked with bringing about a regime change at the bank, something he himself, a critic of the bank, has previously called for. His track record of disparaging the bank for not doing more to fight deflation as well as a career that has spanned the stodgy halls of Japanese bureaucracy and the negotiation tables of global finance convinced Mr. Abe that he was the man for the job, officials say.
A strong 6.1 earthquake has struck off the northern coast of Japan's main Honshu island, seismologists say, but no tsunami warning was issued and there are no immediate reports of damage. (news.com.au )
Yahoo Japan Corp said on Friday night it suspected that up to 22 million of its user IDs may have been "leaked" and it detected an unauthorized attempt to access the administrative system of its web portal Yahoo Japan, the Kyodo news agency reported. (Reuters )
China's television regulator has ordered a crackdown on dramas about the country's battles with Japan during and before World War Two and demanded they be more serious, state media said on Friday, following viewer complaints about ludicrous storylines. (Reuters )
Shukan Post (May 24) conveys the difficulties experienced by other parts of the adult-entertainment biz in servicing customers from the communist nation.
A deri heru (“delivery health”) call-girl tells the tabloid that she is often requested to arrive at major hotels in the Shinjuku and Ikebukuro entertainment areas of Tokyo by Chinese visitors. (Tokyo Reporter)
Police on Friday said that a real estate company employee was stabbed by an unknown assailant in the lobby of an office building near JR Akihabara station. The man is currently in a serious condition in hospital. (Japan Today )