Japan PM on way out, leadership race wide open

[alp227]

Source: Reuters

(Reuters) - Unpopular Prime Minister Naoto Kan will likely resign on August 30, his economics minister said on Tuesday, but who will succeed him as Japan confronts a nuclear crisis and a long list of economic difficulties remained up in the air.

The race to become Japan's sixth leader in five years was blown wide open on Monday when former foreign minister Seiji Maehara, 49, decided to run.

That cut sharply into the chances of Finance Minister Yoshihiko Noda, a fiscal conservative. The support base for the two men overlaps in the Democratic Party of Japan (DPJ) -- and whoever is elected next week as leader of the party with control of the lower house will become prime minister.

Japan's new leader will have to grapple with a soaring yen that threatens exports, step up efforts to rebuild from the March earthquake and tsunami and end a radiation crisis at the Fukushima nuclear plant -- all while trying to curb public debt and cure the ills of a fast-aging society.

Read more: http://www.reuters.com/article/2011/08/23/us-japan-economy-noda-idUSTRE77M0DX20110823

[xchrom]

1. Recommend

[truthisfreedom]

2. I would absolutely not want that responsibility.

God, what a mess.

[Major Hogwash]

3. Fukushima.

There's nothing else to say.

[rpannier]

4. The crook is leaving. Amen

As to Mr Yoshihiko Noda, Japan doesn't need a fiscal conservative.
Japan needs someone who thinks about the majority of the people

[AndyTiedye]

5. The Soaring Yen Problem Should be Easy

Print more Yen. They're gonna need 'em.

I don't understand why the Yen is going up now. They face enormous rebuilding costs from the earthquake and tsunami,
and Fukushima is the gift that keeps on giving and will be for centuries to come. A large area of their tiny country
permanently uninhabitable. Contamination being found hundreds of miles away.