Wednesday, January 6, 2010

Japan Names New Finance Minister

Yukio Hatoyama, Japan’s Prime Minister has named his deputy Naoto Kan as the new finance minister.

This comes as Hirohisa Fujii, 77, resigned for health reasons.

Kan, who is deputy prime minister and state minister for national strategy, is a close ally of Hatoyama and considered a potential future prime minister. As head of the National Strategy Council, Kan is familiar with the details of the budget but his understanding of basic economics is probably not much greater than Paul Krugman's.

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