Japan facing the biggest economy crisis since the second world war. The Japanese economy contracted 3.3 % in the final quarter of 2008. Economists forecast a drop of around 4% in 2009. Mr Aso's reputation has been shredded by a series of gaffes and policy flip-flops. He declared that as a minister he opposed the privatisation of Japan Post the hallmark policy of Junichiro Koizumi's premiership 2001-06.