Second, I worry about the tendency of some U.S. companies to ask the U.S. government to pressure foreign governments for special favors. Such an approach will not lead to the long-term well being of these companies. It may lead to a short-term, temporary improvement, but it will not fundamentally resolve problems. Such an approach leads to political tensions between our two countries, and that should be avoided. Only by patient efforts to understand and cultivate Japanese markets, to understand the taste of Japanese consumers, can these foreign companies enjoy long-term success.
Many American companies do succeed in Japan.
The Wall Street Journal had a headline the other day that said a great deal. It said, Japan Inc.'s Overhaul Gathers Steam, Opening Opportunities for Foreigners. In that same article, John Sievwright, president of Merrill Lynch Japan, said, there's been a complete shift in the landscape. The Japanese people realize that unless we reform ourselves, unless we carry out deregulation, unless we make our society more transparent, we will be left behind. We will lose competitiveness.