Growth for Asian economies will need to be rebalanced by becoming less dependent on the USA and instead turning to their respective domestic economies, according to Japan’s Prime Minister Yukio Hatoyama.
While the global economy has shown signs of recovery, “the employment situation is still getting worse and in dire condition”, and Asia needs to stimulate domestic demand for more sustainable growth, he relayed through foreign ministry spokesperson Kazuo Kodama: “The economic conditions of the global economy seem to have bottomed out, yet there is no room for complacency.”
Kodama also reported that Hatoyama had highlighted that implementing an exit strategy to withdraw fiscal and monetary support would be premature, and said the Prime Minister was keen to “fight against protectionism in all forms”.
