Miyazawa may get Japan finance ministry post

Speculation that one-time prime minister Mr Kiichi Miyazawa could return as Japan's Finance Minister underscores his image as…

Speculation that one-time prime minister Mr Kiichi Miyazawa could return as Japan's Finance Minister underscores his image as a political stalwart who has survived despite scandals and setbacks.

Mr Miyazawa's name has surfaced as a possible candidate to become Finance Minister under new president of the ruling Liberal Democratic Party (LDP) Mr Keizo Obuchi, who is expected to become Prime Minister later this week.

Widely respected for his intellectual abilities and experience with financial matters, Mr Miyazawa went down in flames during his previous tenure as Finance Minister when he was linked to the Recruit shares-for-favour scandal in 1988.

Although he surmounted this to become prime minister a scant three years later - a colleague said he had been "washed clean in the waters of democracy" - in 1993 he was forced to resign this post as well after the LDP suffered staggering losses in a general election.

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For many, his most enduring image is as the man who cradled the head of then-president Mr George Bush when he collapsed with flu at a 1992 state banquet in Tokyo.

Despite his much-vaunted economic ability, Mr Miyazawa as Prime Minister was unable to stem the start of the downturn in the once-mighty Japanese economy which has led to the nation's present perilous state.

He also presided over a ballooning trade surplus which caused major friction with the United States and Europe.

His age - he will be 79 in October - has been mentioned as one factor against his assuming the post. And should he in fact become finance minister, he will be the oldest holder of the job since the end of World War Two.