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Japan's opposition party chief criticizes Abe's economic policies


19:55, May 29, 2013

TOKYO, May 29 (Xinhua) -- Chief of the Japanese main opposition Democratic Party of Japan (DPJ) Banri Kaieda on Wednesday criticized the current economic policies carried out by Prime Minister Shinzo Abe.

Speaking at a press conference at Foreign Correspondents' Club of Japan, Kaieda said the so-called "abenomics" seemingly runs well but contains a lot of risks.

He said the continuously falling yen that triggered by Abe's bold monetary easing has made prices of imported goods rise and led to more costs in people's daily life.

The pressure were also found in small-sized enterprises, said the ex-minister who took charge of economic and industrial affairs under the DPJ-led government that was ousted by Abe's Liberal Democratic Party in general election held last December.

He said that the rising government bond's long-term interest rate, which has hit 1 percent, and the bond's falling prices are the most dangerous trend that may put more burdens on the debt- ridden Japanese government.

The DPJ leader said that he is trying to revise the party's platform to better unify his party for the upcoming election of the upper house, in which the DPJ now remains the largest party.

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