Small farms are the backbone French agriculture and have difficulty competing with the behemoth of US agribusiness. Earlier this year, the United States deepened French antagonism by imposing sanctions on Roquefort cheese, Dijon mustard and goose liver pate, because the European Union refused to buy American hormone-treated beef. Jospin's meeting with Obuchi is only the latest effort to forge closer ties between Paris and Tokyo. In the first six months of 1999, France poured more investment into Japan than any other country. In March, France's Renault car company bought a controlling stake in Nissan Motor Company.
Japan has similar interests in balancing out the global economic system.
Japan does not support US-style free market capitalism. The Obuchi government recently fielded its former vice finance minister for international affairs as a candidate to replace outgoing IMF managing director Michel Camdessus and Tokyo has also led a campaign to create an alternative Asian Monetary Fund. The United States supplies more than 17 percent of IMF funds. In stark contrast, Japan and France combined provide less than 12 percent. Across the board, Washington's financial stake trumps other nations' interests.