While individual economies were at different growth stages, all seemed to be moving in the same direction. It now appears that the situation was not so uniform. In a previous column I emphasized the importance of Japan's relationship with Asia to the world economy. I also called for the perspective of Japan's position in Asia to be added to Japan's national coordinates. This view has been further strengthened as I observe the harsh circumstances of the Asian economies in recent times.
Japan obviously needs to provide direct assistance to the countries concerned without delay.
More than this, however, Asian countries are calling for long-term structural help, geared toward their particular circumstances, with their efforts to implement economic reform. We are frequently frustrated by our inability to respond adequately to these needs, in part because Japan is itself experiencing extreme discomfort between the rock of prolonged recession and the hard place of structural reform. However, it seems to me that a more fundamental task for Japan is to break out of its present difficulties and regenerate itself with determination and a strong awareness of its own role.