- CNTV English - CCTV News

DPJ candidates' economic priorities

09-14-2010 14:07 BJT

Watch Video

Play Video

It's a neck-and-neck race between Japan's top power broker Ichiro Ozawa and current Prime Minister Naoto Kan, with Tuesday's Democratic party election deciding the nation's next premier. Both candidates have rolled out their prescriptions for the country's economy.

Ichiro Ozawa says Japan should intervene to weaken the yen and issue more bonds to boost the economy, while Kan has tried to reign in the country's 10 trillion US dollar public debt and stayed out its markets.

A Reuters analysts' poll showed a win by Ichiro Ozawa could give a short-term boost to Japanese stocks while weakening bonds and the yen, although over half expect Kan to win due to his popular support.

Japan strategist Naomi Fink says the party rank and file vote would be seen as flawed, if it does not reflect the overall political will of the country.

Naomi Fink, Japan Strategist of Bank of Tokyo-Mitsubishi UFJ said "We have a situation where the populous supports Prime Minister Kan, so an Ozawa leadership might be seen as a perversion of democracy."

For some members of Japan Inc, currency levels are manageable if the yen doesn't strengthen further, says Hitachi President Hiroaki Nakanishi.

Hiroaki Nakanishi, President of Hitachi Corp. said "Honestly speaking, we can manage 85 yen dollar or 105 yen per euro -- that range we can manage."

Both men say the government will not implode regardless of who wins, but Ozawa's history of bolting parties when things don't go his way has raised concerns that the vote may only herald greater political gridlock ahead.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program