gins between, currencies.
Mr Hira hara described measures recently
Innounced in Japan. First there had been a change in
iscal policies. This was a basic point. The
had
apanese economy/hitherto been led by privateenterprise
nitiatives. From now on the Japanese Government would
ake the lead in economic activities. Fiscal policies
ould be strengthened. Increased attention would be
iven to social. welfare, environmental problems and
ocial capital. In addition, Japanese Ministers had
ecided upon 7 specific measures as follows:
a.
C.
by the end of September 40 items would
remain subject to residual import restrictions.
After September efforts would be made to
reduce the number to 30 within a short
period.
the fourth programme of liberalisation of
foreign investment in the Japanese market
would take effect in August. A negative list
would remain comprising about 10 categories
including leather, coal and large computers.
Colour film would be liberalised.
He was
aware that the 50-50 principle by which the
proportion of foreign capital permitted to
be invested in Japanese enterprises was
limited to 50 per cent over much of
had been criticised. Japanese industry/could not be changed..
There would however be an increase
in the categories in which 100% would be
permitted.
Government
This
the Japanese/would examine the possibility
of making both unilateral tariff cuts
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