Japan to Propose Steps against Protectionism at G-7: Nakagawa

Tokyo, Feb. 13 (Jiji Press)--Japan will propose measures against
rising protectionism at an upcoming Group of Seven meeting in Rome, Finance
Minister Shoichi Nakagawa said Friday.
On protectionist policy steps launched by an increasing number of
countries, Nakagawa said at a news conference that such moves must be
stopped and that Japan should stand firm against protectionism.
Nakagawa will attend the two-day meeting of the G-7 finance
ministers and central bank chiefs starting later in the day.
Protectionist policy measures may benefit a single country, but in
total, such measures hurt the world economy, Nakagawa said.
Particularly, countries that have so far urged Japan to liberalize
trade, including the United States and European countries, should never
resort to protectionism, Nakagawa said, stressing that it would be
absolutely wrong of them to take such approach.
On the yen's recent firmness against other major currencies,
Nakagawa said stimulating domestic demand is more important than seeking to
correct currency rates. He said he will not propose talks on foreign
exchange rates at the G-7 meeting.