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Pro-spending Nakagawa named Japan's new finance minister

Japan's new Prime Minister Taro Aso Third Realigned Junichiro Koizumi>Koizumi Cabinet
(2005-10-31)

Secretary Shinzo Abe
Internal Affairs Heizo Takenaka
Justice Seiken Sugiura
Foreign Affairs Taro Aso
Finance Sadakazu Tanigaki
Education Kenji Kosaka
Health Jiro Kawasaki
 on Wednesday named Shoichi Nakagawa Third Realigned Junichiro Koizumi>Koizumi Cabinet
(2005-10-31)

Secretary Shinzo Abe
Internal Affairs Heizo Takenaka
Justice Seiken Sugiura
Foreign Affairs Taro Aso
Finance Sadakazu Tanigaki
Education Kenji Kosaka
Health Jiro Kawasaki
, a former trade minister who favours public spending to boost the economy, as his finance minister.

Nakagawa, like Aso an outspoken conservative, takes over at a crucial time for Asia's largest economy, which is teetering on the brink of recession.

Aso "told me to give firm support to Japan as the country faces a very severe situation," Nakagawa, 55, said Wednesday.

Nakagawa, who has previously served as farm minister and trade minister, says he agrees with Aso on the need to shore up the economy in the face of slowing global growth and escalating financial market turmoil. But he also insists the government will keep up its economic reform efforts.

"In the face of this emergency, I vowed with Mr Aso that we will invigorate in·vig·or·ate  
tr.v. in·vig·or·at·ed, in·vig·or·at·ing, in·vig·or·ates
To impart vigor, strength, or vitality to; animate: "A few whiffs of the raw, strong scent of phlox invigorated her" 
 the Japanese economy by making full use of all sorts of policies," he wrote in a recent newspaper column.

"Some people label us as free-spenders or old-guard cronies as we say we are not hesitant on fiscal spending," he said. "But we do not intend to backtrack on reforms.

Aso also re-appointed Kaoru Yosano, a staunch proponent One who offers or proposes.

A proponent is a person who comes forward with an a item or an idea. A proponent supports an issue or advocates a cause, such as a proponent of a will.


PROPONENT, eccl. law.
 of fiscal reform and a rival for the premiership, as minister for economic and fiscal policy.

Nakagawa joined the Industrial Bank of Japan in 1978 upon graduating from the elite University of Tokyo “Todai” redirects here. For the restaurant called Todai, see Todai (restaurant).

The University of Tokyo (東京大学
. He spent five years at the bank, which is now part of Mizuho Financial Group Mizuho Financial Group, Inc. (株式会社みずほフィナンシャルグループ .

But he was shunned by outgoing prime minister Yasuo Fukuda, known for his efforts to reconcile with China.

Nakagawa has triggered controversy with strong criticism of China and calls for Japan -- the only nation to have suffered an atomic attack -- to consider developing nuclear weapons.

He is also known for being pro-Taiwan, admiring independence-minded former president Lee Teng-hui Lee Teng-hui (lē` dŭng`-hwē`), 1923–, Taiwanese agricultural economist and politician, president of Taiwan (1988–2000).  -- something else likely to irk Beijing, which regards the island as part of Chinese territory.
Copyright 2008 AFP Asian Edition
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Author:AFP
Publication:AFP Asian Edition
Date:Sep 24, 2008
Words:317
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