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Obuchi's replacement of rabid reformer Hakuo Yanagisawa with the conservative Michio Ochi as head of the FRC leaves many to wonder whether aggressive reform policies will be rolled back.
The Bank of Japan refused to expand the money supply despite overbearing -- some might say, hubristic -- pressure from the once-powerful MOF.
Prime Minister Obuchi continues to fend off opponents by putting the fiscal-stimulus pedal to the metal of Japan's economy.
Prime Minister Obuchi wants Japan's parliament to consider slashing Japan's hefty inheritance tax to free up more money for investment.
By finalizing a proposal to mandate the labeling of genetically modified foods, the Japanese government may have sparked a major trade dispute with the U.S.
The prime minister has had a successful first year, but still faces formidable hurdles if the economic recovery is to continue.
The Japanese premier's alliance with Komeito means he can continue with his policies virtually unopposed in the Diet.
Desperately needed public pension reforms are likely to be set back by a battle of political wills.
Obuchi may push Japan further into the red -- and fulfill his dream of becoming a two-term prime minister.
Some of the Japanese prime minister's competitiveness proposals look strikingly similar to American ideas from years ago.