KARUIZAWA, Nagano Pref. -- Business leaders exchanged opinions July 17 on Japan's international economic relations and the role of the private sector in the ongoing structural reforms at the 12th summer seminar of the Japan Association of Corporate Executives (Keizai Doyukai).
"It is improper that the current reforms lack reform of the tax system. Tax reforms should not be considered as a measure to stimulate the economy when the economy goes down," said Yasuo Kanzaki, an adviser at Nikko Research Center.
Saying that public support for the ongoing reforms is strong, Kazuaki Harada, director of Sanwa Research Center, said that the country has the option of skipping such measures as tax cuts and public work projects to boost the economy. But Yoshikazu Hanawa, president of Nissan Motor Co., questioned the effectiveness of the ongoing reforms, which have run into strong opposition from the nation's bureaucracy.