OSAKA -- "No guts, no glory" was the rallying cry for nearly 400 Kansai area business and government leaders Thursday, the opening day of the 40th annual Kansai Economic Seminar.
The Kansai region is facing the nation's worst unemployment rate, which hit 6.5 percent in December. Its showcase Kansai International Airport is sinking financially, saddled with debts. And manufacturing and financial institutions are moving to Tokyo and overseas.
Against this backdrop, Yoshihisa Akiyama, chairman of the Kansai Economic Federation (Kankeiren) opened the two-day event, warning that 2002 is a pivotal year for the local economy and the key to recovery has more to do with "spirit."
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