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Finance Minister Shoichi Nakagawa’s abrupt resignation over his wobbly performance at a news conference in Rome is feared to further drag down the economy, having shaken the “control tower” of Japan’s economic policies.

Nakagawa, who doubled as financial services minister, will be replaced by economic and fiscal policy minister Kaoru Yosano, 70, who will now hold three posts, Prime Minister Taro Aso said.

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