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Lawrence Lindsey, chief economic adviser to Republican presidential nominee George W. Bush, suggested Friday that a Bush administration would seek fiscal reconstruction in Japan rather than the additional fiscal stimulus that the current administration is demanding.

“It is much more plausible given the debt levels in Japan and the strong political forces which shape the allocation of resources in the state sector, that Japan’s primary problem is capital misallocation,” Lindsey, a former Federal Reserve Board governor, said in a speech at a Washington think tank.

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