In a speech on the current situation of the Japanese economy given on 3 September Toshihiko Fukui of the Bank of Japan said a number of developments indicate that the Japanese economy is moving in a desirable direction, even though it continues to face severe conditions. Fukui said it would be the competitiveness of the private sector, both firms and financial institutions with progressive technology and expertise, that will bring about the reemergence of a truly strong Japanese economy.

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