AGL 40.39 Increased By ▲ 0.39 (0.98%)
AIRLINK 126.90 Decreased By ▼ -0.14 (-0.11%)
BOP 6.61 Decreased By ▼ -0.06 (-0.9%)
CNERGY 4.47 Decreased By ▼ -0.04 (-0.89%)
DCL 8.54 Decreased By ▼ -0.01 (-0.12%)
DFML 41.57 Increased By ▲ 0.13 (0.31%)
DGKC 86.90 Increased By ▲ 0.05 (0.06%)
FCCL 32.18 Decreased By ▼ -0.10 (-0.31%)
FFBL 64.90 Increased By ▲ 0.10 (0.15%)
FFL 10.18 Decreased By ▼ -0.07 (-0.68%)
HUBC 109.39 Decreased By ▼ -0.18 (-0.16%)
HUMNL 14.60 Decreased By ▼ -0.08 (-0.54%)
KEL 5.11 Increased By ▲ 0.06 (1.19%)
KOSM 7.49 Increased By ▲ 0.03 (0.4%)
MLCF 41.25 Decreased By ▼ -0.13 (-0.31%)
NBP 59.60 Decreased By ▼ -0.81 (-1.34%)
OGDC 194.80 Increased By ▲ 4.70 (2.47%)
PAEL 28.22 Increased By ▲ 0.39 (1.4%)
PIBTL 7.79 Decreased By ▼ -0.04 (-0.51%)
PPL 151.90 Increased By ▲ 1.84 (1.23%)
PRL 26.52 Decreased By ▼ -0.36 (-1.34%)
PTC 16.10 Increased By ▲ 0.03 (0.19%)
SEARL 79.25 Decreased By ▼ -6.75 (-7.85%)
TELE 7.47 Decreased By ▼ -0.24 (-3.11%)
TOMCL 35.39 Decreased By ▼ -0.02 (-0.06%)
TPLP 8.23 Increased By ▲ 0.11 (1.35%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 52.75 Decreased By ▼ -0.54 (-1.01%)
UNITY 26.75 Increased By ▲ 0.59 (2.26%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,936 Increased By 52.8 (0.53%)
BR30 30,919 Increased By 319.2 (1.04%)
KSE100 93,792 Increased By 436.2 (0.47%)
KSE30 29,054 Increased By 122.7 (0.42%)

Japan wants to play a part in formulating global regulations to rein in "excessive money-making games," Prime Minister Yukio Hatoyama said in a speech on Thursday ahead of the Group of 20 financial summit. His comments appeared to echo the views of German leader Angela Merkel, who warned on Thursday the G20, which starts in Pittsburgh later in the day, should not be distracted from the need for more market rules.
"As we advance the liberalisation of trade and investment, international co-ordination is necessary in order to forge systems to rein in the issues of poverty and economic disparity, which are difficult to co-ordinate by simply leaving them to market mechanisms, as well as excessive money-making games," Hatoyama said in a speech at the United Nations. "Japan will play a role as a 'bridge' in international fora, including the G20, towards the formulation of common rules to that end," he said.
Hatoyama's Democratic Party of Japan trounced the long-dominant Liberal Democratic Party in an election in August, ousting the business-friendly party from power for just the second time in its 54-year history. Hatoyama has raised eyebrows in Washington in the past with an essay published in English that attacked the "market fundamentalism" of US-led globalisation.
Hatoyama said the world economy seemed to have passed the worst stage of the crisis but that it was difficult to forecast the future. But new Japanese policies such as 5.5 trillion yen ($60.68 billion) a year in allowances for parents of young children would help boost consumption, he said.

Copyright Reuters, 2009

Comments

Comments are closed.