But the Japanese economy now founders in a decade-long recession. Observers have called for government reform, banking reform, and cultural reform. Meanwhile, Japan remains unwilling to change its constitution to allow a military buildup. M International Ltd. This summer Japanese officials will commemorate the fiftieth anniversary of the U.S.-Japan Peace Treaty by visiting 30 American cities to say thank you for a benevolent occupation and the support which followed. Its monetary reserves are second to none.
Japan is the hub of the world s most economically dynamic and heavily populated region, East Asia.
It is our loyal ally a base for American forces deployed in East Asia and a source of financial, technical, and logistical support. This relationship is not likely to be heavily damaged by the political fallout from February s tragic sinking of a Japanese fishing boat filled with high school students by a U.S. nuclear submarine. Japan s overseas development assistance is the world s largest and supports U.S. objectives. It provides 20 percent of the world s financial support for the UN, out of proportion to its size and notwithstanding that it has no permanent seat on the Security Council. It contributes disproportionately to international organizations such as the IMF and World Bank in which it has little influence.