"I'm doing what needs to be done"
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Shuzo Ogushi for TIME |
Even if Keizo Obuchi does not succeed in remaking Japan, one national institution will definitely be demolished under his rule: the Prime Minister's residence, a crumbling, early-20th-century brick pile in central Tokyo. A new official dwelling is to be built on the site. Obuchi spent a recent Sunday afternoon at his doomed home with TIME Asia editor Donald Morrison, Tokyo bureau chief Tim Larimer and correspondent Donald Macintyre. Excerpts from the interview:
TIME: Only a few months ago, you were dismissed as "cold pizza." Now you're popular. What happened?
Obuchi: I'm doing what needs to be done. Faced with the possible breakdown of the Japanese financial system, I passed two relevant laws through the Diet, and that has enabled us to gain international confidence. On the foreign policy side, I've been able to give a sense of stability to the people of this country. I've apologized to Korea for whatever Japan needs to apologize to Korea for. We agreed to let bygones be bygones. Mr. John Neuffer [a U.S. political analyst who made the pizza comparison] recently came to see me and told me I'm not a cold pizza after all.
TIME: What will it take to turn the Japanese economy around?
Obuchi: Japanese companies may need to experience a harsh winter to gain strength. When the yen was at 79 to the dollar, which certainly was a very tough environment, they managed to gain competitiveness. But as the Prime Minister, I have to consider the fact that restructuring will depress the economy. And if Japan catches a cold, Asia will catch pneumonia. Companies here are also trying to restructure themselves without slashing jobs, unlike in the U.S., where companies are able to temporarily lay off large numbers of workers. We need to carry out structural reform. But we must overcome these hurdles in a Japanese way.
TIME: Are you going to bring any economic concessions with you on your trip to the U.S. next month?
Obuchi: There isn't any need for me to pack a backpack with major gifts. Japan and the U.S. have the most important bilateral relationship in the world. Today this relationship is in the best and most stable state since the arrival of the "black ships" on the shores of Japan. I trust whoever succeeds me will carry the relationship to new heights.
TIME: Are you worried that the U.S. is paying too much attention to China these days and not enough to Japan?
Obuchi: The Japan-U.S. relationship isn't the kind where one partner always has to keep an eye on the other partner. This is a relationship built on trust. We don't have to say to each other "I love you" all the time, day in day out. I will, however, be saying "I love you" tomorrow. It's my 32nd wedding anniversary.
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