Who leads Japan matters to Ed Rogers of Rogers Investment Management,and it matters to the rest of the world.Naoto Kan,the new Prime Minister,is a decisive leader,and we need decisive leadership in Japan,Mr.Rogers feels.A finance minister background such as Mr.Kan's is very good,not just for understanding Japan,but also the rest of the world.
Change is always scary,Ed Rogers observed.The reality is,Japan is a very,very cheap market.Everyone is excited at the opportunity for positive change that we have in Japan right now,Mr.Rogers thinks.
Japan is the world's second-largest economy behind the United States.It has had trouble in recent years finding stable leadership at the top.The new Japanese Prime Minister,Naoto Kan,who leads the Democratic Party of Japan,supports the controversial maintenance of a U.S. military presence on the island of Okinawa,where the U.S. Marines have had a base since World War II.While many Japanese oppose the big base,others think it provides needed jobs to the area.
Naoto Kan was sworn in at the Imperial Palace today,and his cabinet was sworn in at a separate ceremony.He wants to visit Washington next month to emphasize the importance of the Japan-U.S. relationship.
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