The pace of economic reform in Japan is expected to pick up next year following a government cabinet...
The pace of economic reform in Japan is expected to pick up next year following a government cabinet reshuffle, according to Invesco.
Akira Hiramine, manager of Invesco's GT Japan Investment Trust, said: "The Japanese cabinet is very weak, prime minister Mori is considered a 'lame duck' rather than a long- term solution. There is very little confidence in the government as it stands."
Hiramine expects that a reshuffle will occur in December with the appointment of two key opposition members, Mr Kato and Mr Yamakazi.
He said: "Both of these men are considered to be reformers, with their appointment we would expect to see an acceleration of deregulation and other economic reforms following their promotion which should provide a catalyst for investors."
Hiramine thinks change of any sort would stimulate activity in what he says is a stagnant investment situation. Underlying economic fundamentals for Japan are on the whole good, with the market undergoing a period of gentle, steady growth for some time, he said.
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