Japan is prepared to intervene in currency markets to stem the yen’s advance, Economy Minister Banri Kaieda said, signaling that overseas opposition shouldn’t deter authorities from correcting abrupt moves.
China’s “de facto” ban on exports to Japan of rare earths, a group of 17 metals used in weapons, hybrid vehicles and laptop computers, may have a “big impact” on Japan’s economy, Japanese Economy Minister Banri Kaieda said.
The Democratic Party of Japan picked former trade and industry minister Banri Kaieda as its leader following a Dec. 16 election rout that saw the group lose three quarters of its seats in the lower house.
Japan’s economy may be hurt by its political dispute with China, Economy Minister Banri Kaieda said today, signaling widening concern at the consequences of tensions with the nation’s biggest trading partner.
Japan’s industry minister, Banri Kaieda, said he will resign after replacing three officials in charge of energy policy and outlining a new structure for the ministry following the Fukushima nuclear disaster.
Shinzo Abe became the first sitting Japanese prime minister to visit Yasukuni Shrine since 2006, drawing a quick rebuke from China for paying respects at a site that memorializes war-dead including World War II criminals.