Japan pushes for bold growth strategy on first day of Ise-Shima summit

Ise Shima

JAPAN on Thursday sought to show leadership in reversing global economic stagnation, with Prime Minister Shinzo Abe urging fellow political leaders from the Group of Seven (G-7) advanced nations to launch concerted fiscal and monetary actions and make structural economic reforms to bolster growth.

During a meeting with fellow leaders that launched the Japan-hosted summit at Ise-Shima in central Japan, he emphasised the risks facing the global economy, and compared the current situation with that at the time of the global economic crisis of 2008.

With Japan having failed to win support for concerted fiscal and other stimulus action during last week's G-7 meeting of finance ministers and cen…