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  【講演の概要】
Ambassador Shunji Yanai Providence, Rhode Island August 6, 2001 On July 4th at New York's Coney Island, Nathan's held its annual hot dog eating contest. The previous record was 25 and 1/8 hot dogs. But on July 4th, a Japanese man, Mr. Takeru Kobayashi, set a new record--consuming 50 hot dogs in 12 minutes. He not only doubled the record, he said that he thought he probably had room for another 20 hot dogs. You might think the victor would look like a sumo wrestler, but Mr. Kobayashi tips the scales at 131 pounds. Now, why do I tell you this story? Because it's an economic analogy. Japan is a small island nation, but please do not underestimate what it can accomplish. After our economic lost decade, some perceive us as economically weak, but we still have great economic strength underneath. How Japan intends to liberate this economic strength is what I would like to discuss with you today. Last week Japan held an election for the Diet's upper house that endorsed Prime Minister Koizumi's ruling coalition. The Washington Post explained the significance of the vote by writing that the election meant that "Japanese voters backed Prime Minister Koizumi's promises to radically revamp the nation's listless economy and stagnant politics..." The article went on to quote a political analyst who said, "These election results mean the Japanese public have declared that they are ready to accept the pain of reform." The Prime Minister has been very direct in saying that his reforms may well bring two or three years of hardship. And yet still he retained control of the upper house and, in fact, increased his majority. The Prime Minister has incredible popular support, unlike anything seen in postwar Japan. It's the most amazing sight to see- when he gives a speech he draws crowds of squealing schoolgirls. One of the biggest problems Japan faces, of course, is that of non-performing loans. These loans, which we estimate at around $350 billion, have been preventing corporations and banks from making new investments. They are a dead hand upon the economy that must be lifted. The Koizumi Cabinet has set forth a program that will resolve this problem within two to three years through a strengthened Resolution and Collection Corporation (RCC) and clear these loans off the banks' balance sheets. The Cabinet also has embraced other basic policies to turn our country around economically. These include: privatization of public services such as post-office businesses; continued regulatory reform such as nursing care; human capital development; and reduction of subsidies to local governments combined with expansion of local taxation. Because our economy has been so visibly weak, what many people haven't recognized is the change that has been occurring beneath the surface. The underpinnings of the Japanese economy already are being restructured. This is why the keiretsu system, the system by which banks and companies are linked together through loans and stock ownership, is breaking up. It is why U.S. financial companies have moved into Japan in a big way. It is why McDonald's is the largest fast-food retailer in Japan. It is why Japan is the largest importer of American agricultural products. It is why today 7 out of 11 Japanese auto manufacturers have foreign shareholders. Did you know, for example, that General Motors owns about half of Isuzu, 20% of Suzuki and 20% of Fuji Heavy Industries, which makes Subaru? If you added all these percentages up, GM itself would be a Japanese automobile manufacturer and, in fact, GM not long ago asked to join the Japanese Automobile Manufacturers Association. This shows how far we have come since the trade wars of the mid-90s. I believe the greatest benefit of U.S. investment in Japan is not just economic; the greatest benefit is the contribution these investments make to Japan's structural reform and more liberalized thinking. U.S. investment is infusing Japan with a new energy and a new outlook. We welcome this. And I urge you to tell your home-state companies of the new opportunities in Japan. While U.S. investment in Japan is growing, Japanese investment in the U.S remains solid. Japanese direct investment in the United States today covers 49 of the 50 states. I have been asking Japanese businessmen, "What is the only state in which Japan does not have direct investment?" The answer is North Dakota. I am positive that Japan's first investment in North Dakota will be enthusiastically welcomed there. The Japanese auto companies that have set up plants in the U.S. get a lot of attention-and in fact, in November this year, Honda is opening a new factory in Alabama, and in the summer of 2003, Toyota and Nissan are opening ones in Alabama and Mississippi respectively. Together these three plants mean some 6,500 new U.S. jobs. But this is just the tip of the iceberg. The number of Japanese manufacturers altogether in the U.S. increased by 319 last year to 2,126. And the number of American workers directly employed by Japanese manufacturers in the U.S. amounts to more than half a million. I might add that the percentage of local content is more than 70%, which creates even more jobs here in the United States. The Japanese economy currently may be weak, but Japan's desire to invest in America has not weakened. I personally want to thank all of the governors here and the people of your states for the welcome that you have afforded Japanese companies. Historically, what has happened is this. U.S.-Japanese economic cooperation deepened substantially during the ‘90s. In the past, our economic frictions were at the top of the political agenda. But as economic globalization has advanced and interdependence of U.S. and Japanese corporations has increased, such major disputes are becoming less and less common. Japan is much more open, and the business opportunities for American corporations are expanding daily. I would say that Japan-U.S. relations have never been better. I saw this cooperation first hand recently. On June 30th, Prime Minister Koizumi and President Bush held a summit meeting at Camp David. I attended this meeting, which consisted of the two leaders and a limited number of aides. The meeting went on much longer than originally scheduled. I believe the President and the Prime Minister were able to build a personal relationship, discussing a wide range of issues. The meeting's major accomplishment in the economic area was a new initiative called "The U.S.-Japan Economic Partnership for Growth." The Partnership aims to deal with the U.S.-Japan economic relationship not through gaiatsu, or outside pressure but through a cooperative strategic dialogue on such issues as macroeconomic policy; structural, regulatory, financial and corporate reform; foreign direct investment-and through addressing bilateral, regional and global trade issues. Free trade is the lubricant of the global economy. It is essential that our two countries-as the first and second largest economies in the world-cooperate closely in strengthening the multilateral trading system with the WTO playing the central role. The President and the Prime Minister reaffirmed their determination to stay personally engaged in the effort to launch a new WTO round later this year in Qatar. At the recent G7 meeting in Genoa, the G7 leaders pledged the same thing. And I hope to work closely with Ambassador Zoellick who is present at today's meeting. Also at Camp David, the two leaders welcomed the 50th anniversary of our security relationship and reaffirmed that our alliance is the cornerstone of peace and stability in the Asia-Pacific region. One successful example of the U.S.-Japan policy dialogues is the Trilateral Coordination and Oversight Group (TCOG), through which the two nations have maintained close consultation and coordination regarding North Korea and with the Republic of Korea. At Camp David, President Bush and Prime Minister Koizumi agreed that the two governments should continue to consult closely on missile defense, together with strengthened non-proliferation measures. In addition, the Prime Minister reiterated Japan's understanding of President Bush's call for exploring a new approach to transforming deterrence. I am delighted that President Bush will visit Japan this fall. I believe this visit will be another good opportunity to expand cooperation between our two countries. In closing, let me just add this. After the upper house election last week that gave the Prime Minister his mandate, he said to the people of Japan, "There is no going back. We will move forward with reform." My friends, I believe this will happen. Reform will be good for Japan's economy; it will be good for the Japan-U.S. relationship; and it will be good for our long-term common prosperity. Thank you very much for inviting me . . . and thank you for your kind hospitality. |