Japan’s next reconstruction package should be “at least” 10 trillion yen ($125 billion) and the nation’s central bank ought to step up stimulus, a potential candidate to succeed Prime Minister Naoto Kan said.
Prime Minister Naoto Kan ’s battle to fund Japan’s budget and avoid early elections suffered another blow as his foreign minister quit over an illegal donation and a poll showed fewer than one voter in four supports him.
Japan’s parliament passed two pieces of legislation that Prime Minister Naoto Kan said were conditions for him to resign as early today, setting up a succession battle that will play out by early next week.
Japan’s Foreign Minister Seiji Maehara said China’s reaction to the detention of a fishing boat captain escalated tensions unnecessarily and the dispute could hurt the global economy and bilateral relations.
Former Japanese Foreign Minister Seiji Maehara, the most popular contender for prime minister in public polls, will compete to succeed Prime Minister Naoto Kan, who said he may resign by the end of the week.