New British ambassador to Japan Stephen Gomersall suggested Friday that Japan could learn from wide-scale restructuring measures Britain implemented in the 1980s, and also called for further deregulation of Japan's markets.
During a press conference at the Japan National Press Club in Tokyo, Gomersall said Britain was "encouraged" by signs that Japan was coming out of recession, and that it was "clear" that while some parts of the economy have "adapted very quickly and restructured," other parts are still relatively "inefficient."
"What I want to emphasize to the Japanese audience is that the restructuring which was forced upon us in the '80s by our failures in the '70s has been continuing in the '90s at an increasing pace," the ambassador said.