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To: goldsnow who wrote (16970)	8/31/1998 1:49:00 PM
From: Alex	Read Replies (1) \| Respond to of 116815

Japan Minister Says Russia Has "Mafia Economy" TOKYO -- (Reuters) Japan's Economic Planning Agency Minister Taichi Sakaiya said on Sunday that Russia had failed to promote a Western-style market economy while lawlessness had gained force. "We hoped that Russia would achieve a market-oriented economy but it didn't. In fact, it is a mafia economy," Sakaiya said on a national TV Asahi program. He added that government control may be needed in order for Russia to transform into a true market economy. The ruble went into free fall last week after Russian President Boris Yeltsin sacked the government of Prime Minister Sergei Kiriyenko, and re-appointed Victor Chernomyrdin, who had been sacked months earlier. On Japan's domestic economy, Sakaiya said a possible failure of a major financial institution would cause panic and worsen the nation's economy, which would lead to drastic rises in unemployment in related businesses. "The chain reaction will be enormous," he said. (ÿ(c)ÿ1998 Reuters) russiatoday.com