SINGAPORE (AP) — Japanese billionaire clothing retailer Tadashi Yanai criticized his government's response to a severe recession as too tepid and called for tax cuts to spur domestic consumption.
Yanai, chief executive of Fast Retailing Co. Ltd, said the government should shift Japan's economy away from dependence on exports and provide incentives for domestic producers. He said recent government cash handouts have been ineffective because recipients are saving the money.
