Koizumi's Reform Plans Begin with Postal Funds

A landslide victory by Japan's ruling Liberal Democratic Party this weekend has further concentrated power in the hands of Prime Minister Junichiro Koizumi. He will push ahead with plans to privatize Japan's postal system, which doubles as a bank and has $3 trillion in assets.

The move may also help to sideline Koizumi's rivals within the LDP. In the past, they have improved their chances of reelection by using postal funds for pork-barrel projects.

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