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Finance ministers and central bankers from the Group of 20 member countries pointed out in their communique last week that growth in the global economy remains uneven and that recovery is slow in the eurozone and Japan, while also noting the slowdown taking place in emerging economies.

Japan and other countries need to acknowledge that the global economy as a whole remains weak, with only the United States doing well among the developed nations. Japan should carefully consider what policies to pursue to put itself on a path of stable recovery while paying close attention to the situation abroad, including the divergent policy directions taken by the main economic players.

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