2017年8月15日

Wednesday, November 16, 2011

Date Wednesday, November 16, 2011
usforum2011usforum2011
Venue The Ritz Carlton Chicago Hotel, The Concorde Room, 12F
160 East Pearson Street
Chicago IL 60611 U.S.A.
Sponsors Japan Economic Foundation (JEF)
The Chicago Council on Global Affairs (CCGA)

Topics"SHAPING NEW ECONOMIC AGENDAS"
The Chicago Council on Global Affairs and Japan Economic Foundation Seminar

WELCOME REMARKSMarshall M. Bouton, President, The Chicago Council on Global Affairs

SESSION I: Regaining Economic Growth in Developed EconomiesThe Situation and Outlook for the U.S., Japan and the EU

Chair - Michael H. Moskow, Vice Chairman and Senior Fellow on the Global Economy, The Chicago Council on Global Affairs

-15 minute overview - Japanese Perspective: Naohiro Yashiro, Visiting Professor, International Christian University
Presentation
-15 minute overview - U.S. Perspective: Martin Eichenbaum, Co-Director, Center for International Economics and Development, Northwestern University
-1 hour group discussion

SESSION II: Emerging Market Growth Prospects and TrendsChair - Marshall M. Bouton, President, The Chicago Council on Global Affairs

-15 minute overview - Japanese Perspective: Long Ke, Senior Research Fellow, Fujitsu Research Institute, Economic Research Center
Presentation
-15 minute overview - U.S. Perspective: David Hale, Chairman, David Hale Global Economics
-45 minute group discussion

Paper

SESSION III: Identifying New Sources of GrowthAgenda Items for the 2012 Chicago G8 Summit

Chair - Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation

-15 minute overview - Japanese Perspective: Michitaka Nakatomi, Principal Trade Negotiator, Trade Policy Bureau, METI; Senior Fellow, RIETI
Presentation
-15 minute overview - U.S. Perspective: P. Zachary Egan, Director of International Research and Co-Portfolio Manager, Colombia Wanger Asset Management
-1 hour group discussion

CONCLUDING DISCUSSION
U.S. Cochair - Michael H. Moskow, Vice Chairman and Senior Fellow on the Global Economy, The Chicago Council on Global Affairs
Japan Cochair - Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation

CLOSING REMARKS
Marshall M. Bouton, President, The Chicago Council on Global Affairs

ADJOURNMENT

Program

ParticipantsWednesday, November 16, 2011List

SummarySummary (English)Summary (Japanese)

2017. JULY 2016. JUNE 2015. SEPTEMBER 2014. DECEMBER 2013. OCTOBER 2013. FEBRUARY 2011. NOVEMBER 2010. OCTOBER 2010. JANUARY 2008. DECEMBER 2007. NOVEMBER 2006. OCTOBER 2006. JULY 2005. SEPTEMBER 2004. MAY 2003. OCTOBER

4.Participants(Wednesday, November 16, 2011)

Participants from the U.S. (17)

Marshall M. Bouton President, The Chicago Council on Global Affairs
P. Zachary Egan Director, International Research and Co-Portfolio Manager, Columbia Wanger Asset Management
Martin Eichenbaum Co-Director, Center for International Economics and Development, Northwestern University
David Hale Chairman, David Hale Global Economics
Lyric Hughes Hale Founder, China Online, Inc.
Robert Karr Attorney At Law, Jones Day
Joseph King Retired Vice Chairman and CEO, Molex Incorporated
Adolfo Laurenti Deputy Chief Economist and Managing Director, Economic Analysis, Mesirow Financial
William Mahoney Chairman, Segal McCambridge Singer & Mahoney
Thomas P. McMenamin Chairman, Masuda, Funai, Eifert & Mitchell, Ltd.
Michael H. Moskow Vice Chairman and Senior Fellow on the Global Economy, The Chicago Council on Global Affairs
William Obenshain Executive Director, Center for Financial Services, DePaul University
Samuel Scott Retired Chairman, President and Chief Executive Officer, Corn Products International, Inc.; Chairman, Chicago Sister Cities International
Adlai Stevenson III Chairman, SC&M International
Charles Wheelan Senior Lecturer, The Harris School of Public Policy, The University of Chicago
Eugene Zheng Managing Director, Asia Affairs, Chicago Board Options Exchange
Niamh King Vice President, Programs, The Chicago Council on Global Affairs

Participants from Japan (5)

Noboru Hatakeyama Chairman and CEO, Japan Economic Foundation
Long Ke Senior Fellow, Fujitsu Research Institute, Economic Research Center
Michitaka Nakatomi Principal Trade Negotiator, Trade Policy Bureau, Ministry of Economy, Trade and Industry (METI); Senior Fellow, Research Institute of Economy, Trade and Industry

(RIETI)

Naohiro Yashiro Visiting Professor, International Christian University
Shinichi Saito Executive Director, International Affairs, Japan Economic Foundation

Special Guests(2)

Yoshifumi Okamura Consul General, Consulate General of Japan in Chicago
Tatsuhiro Shindo Chief Executive Director, Japan External Trade Organization (JETRO), Chicago

Observer from Japan(1)

Takanori Okuda Assistant Director, Americas Division, Trade Policy Bureau, Ministry of Economy, Trade and Industry (METI)

Monday, October 25, 2010

Date Monday, October 25, 2010
usforum2010-10usforum2010-10
Venue Washington DC, USA
C Fred Bergsten Conference Center
1750 Massachusetts Avenue, NW
Washington, DC 20036
Sponsors Japan Economic Foundation
Peterson Institute for International Economics (PIIE)

Topics"A Trans Pacific Partnership and the Future of the Asia Pacific Region"

Welcome and IntroductionC. Fred Bergsten, Peterson Institute for International Economics
Noboru Hatakeyama, Japan Economic Foundation (JEF)

Session I: The Economic and Strategic ContextKurt Campbell, Assistant Secretary of State for East Asian and Pacific Affairs
Akira Kojima, Senior Research Fellow, Japan Center for Economic Research (JCER)
Daniel Price, Senior Partner, Sidley Austin LLP

Session II: Shaping the Trans Pacific Partnership: Substance and MembershipMasakazu Toyoda, Chairman and CEO of the Institute of Energy Economies, Japan
Presentation

Barbara Weisel, Assistant U.S. Trade Representative for Southeast Asia and the Pacific
Mark Sinclair, Lead Negotiator, Trans-Pacific Partnership, Ministry of Foreign Affairs and Trade (MFAT), New Zealand
Presentation

Lunch and Session III: How Congress Views the TPP Congressman Kevin Brady (R-TX) [Via Video Conference]

Session IV: The Trans Pacific Partnership and Prospects for an FTAAPYoshihiro Watanabe, Advisor, Bank of Tokyo-Mitsubishi UFJ, Ltd; APEC Business Advisory Council Member of Japan
Presentation

Jeffrey J. Schott, Senior Fellow, Peterson Institute for International Economics
Presentation

Discussants: Peter A. Petri, Carl J. Shapiro Professor of International Finance, Brandeis University and Senior Fellow, East-West Center
Presentation

Session V: Conclusions and RecommendationsNoboru Hatakeyama, Japan Economic Foundation
C. Fred Bergsten, Peterson Institute for International Economics

(Audio link to PIIE)

Program

ParticipantsMonday, October 25, 2010List

SummarySummary (English)Summary (Japanese)

Chairman's SpeechOpening Remarks by Mr. Noboru Hatakeyama (October 25, 2010 @JEF-PIIE Conference in Washington, D.C.)

Dr. Fred Bergsten, Director of the Peterson Institute for International Economies, the honorable Kurt Campbell, Assistant Secretary of State for East Asia and Pacific Affairs, distinguished guests, ladies, and gentlemen:

It is my great honor and privilege to welcome all of you to this International Symposium co-hosted by the PIIE and the Japan Economic Foundation.

First of all, I would like to express my heartfelt gratitude to Dr. Bergsten and his colleagues in the PIIE for co-hosting this conference with the JEF. I am also deeply grateful to all the distinguished speakers and panelists from the United States, New Zealand and Japan and to all of you who have joined us today despite your hectic schedules.

The subject of today's conference is "A Trans-Pacific Partnership and the Future of the Asia Pacific Region." In this region there are five FTA proposals:

The East Asian FTA [EAFTA], consisting of the ten ASEAN countries plus China, Japan, and South Korea [the so-called ASEAN +3];
The Comprehensive Economic Partnership of East Asia, [CEPEA], consisting of ASEAN +3 as well as Australia, India, and New Zealand [this group is known as ASEAN +6];
An FTA between China, Japan, and South Korea [CJK];
An FTA of Asia Pacific [FTAAP], consisting of APEC member economies and;
The TPP, consisting of the original Pacific four, that is to say Brunei, Chile, New Zealand, and Singapore, plus the six countries that have joined negotiations subsequently, namely Australia, Canada, Malaysia, Peru, the United States, and Vietnam.

Of these five proposals, Japan is a member of joint studies for the EAFTA and the CEPEA. Both of these have entered the governmental discussion stage prior to negotiations on rules of origin, customs procedures, tariffs, and economic cooperation.

In October, 2009, a consensus was reached to aim at launching a joint study on a China-Japan-Korea FTA at a second meeting between leaders of the three countries involved. The first and second meetings for a joint study on a CJK FTA, involving experts from industry, academia, and government, have already been in Seoul and Tokyo respectively. A third meeting, in China, will take place in December.

Last July, the government of Japan decided to come up with a road map to establish a FTAAP by 2020, taking advantage of Japan's hosting the APEC Leaders' Meeting to be held in Yokohama.

In addition, on October 1st this year, Prime Minister Naoto Kan made his first general policy speech in the Diet after the cabinet reshuffle in September. In this speech, he stated as follows, "We will look into participating in such negotiations as those for the TPP agreement and will aim to build a FTAAP."

However the qualifications for entering TPP are very severe. As you know, FTA in general should liberalize substantially all trade. In other words, the WTO admits that non-substantial trade may be exempted from the obligation to liberalize. However, in the case of P4, the prototype of the TPP, there are no such exemptions. If every country trying to join the TPP is asked to forgo its exemptions as a precondition for membership, this will function as a barrier to expanding a FTA and thereby reduce opportunities to implement free trade. It would be ironic indeed if barriers for joining an FTA became barriers for implementing free trade.

Personally, I think there are two reasons for Japan to join the TPP.

Firstly, this would offer a rare opportunity for the US and Japan to enter an FTA relationship. If this opportunity is missed, Japan may be forced to enter into a regional FTA relationship with China, at least, sooner than the US. Far better to enter an FTA relationship with the United States first-a country that shares the same values and is firmly tied to Japan through a security treaty.

Secondly, with all due respect to the current and potential future TPP members other than the US, from the American perspective the total combined size of their nine economies is too small to justify American participation in tough membership negotiations. In 2009, the total value of their GDP was $3.2 trillion-just 63% of Japan's GDP and 5.5% of world GDP. If Japan enters, the TPP's total share would be 39% of total world GDP, including the US.

For these reasons, when you decide whether to admit Japan to the TPP, I think it is crucial to take into account not just the current trade policy of the P4, having no exceptional items, but also strategic considerations, including the security of this region.

On this note, I would now like to declare the symposium formally open.

Thank you very much.

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4.Participants(Monday, October 25, 2010)

From Japan: 5 speakers

Noboru Hatakeyama Chairman and CEO, JEF
Akira Kojima Senior Research Fellow, Japan Center for Economic Research (JCER)
Masakazu Toyoda Chairman and CEO of the Institute of Energy Economics, Japan
Yoshihiro Watanabe Advisor, the Bank of Tokyo-Mitsubishi UFJ, Ltd.; APEC Business Advisory Council Member of Japan
Masaru Inoue Director, International Affairs, JEF

From New Zealand: 1 speaker

Mark Sinclair Lead Negotiator, Trans-Pacific Partnership, Ministry of Foreign Affairs and Trade (MFAT), New Zealand

From the U.S.: 7 Speakers/discussants

C. Fred Bergsten Director, Peterson Institute for International Economics
Kurt Campbell Assistant Secretary of State for East Asian and Pacific Affairs
Daniel Price Senior Partner, Sidley Austin LLP
Barbara Weisel Assistant U.S. Trade Representative for Southeast Asia and the Pacific

Congressman Kevin Brady (R-TX) [via Video Conference]

Jeffrey Schott Senior Fellow, Peterson Institute for International Economics
Peter A. Petri Carl J. Shapiro Professor of International Finance, Brandeis University and Senior Fellow, East-West Center

Wednesday, January 27, 2010

Date Wednesday, January 27, 2010
usforum2010-1usforum2010-1
Venue Washington D.C., USA
B1 Conference Center, Center for Strategic and International Studies
1800 K Street, NW Washington DC, 20006
Sponsors Japan Economic Foundation (JEF)
Center for Strategic and International Studies (CSIS)
Topics "What is Next for the U.S. and Japanese Economies?"
Panel 1: Outlook for the Japanese Economy (Audio Link to CSIS)
Panel 2: Outlook for the U.S. Economy (Audio Link to CSIS)
Panel 3: Panel Discussion: Agenda for Bilateral Cooperation (Audio Link to CSIS)
Luncheon Keynote Address: Economic Outlook and U.S.-Japan Relations (Video Link to CSIS)
Program

ParticipantsWednesday, January 27, 2010List

SummarySummary (English)Summary (Japanese)

Chairman's SpeechOpening Remarks by Noboru Hatakeyama (January 27, 2010 @JEF-CSIS Conference in Washington D.C.)

"What is Next for the U.S. and Japanese Economies?"

Dr. John Hamre, Distinguished guests, Ladies and Gentlemen, it is my great honor to be here with you today in this important conference.

First of all, I would like to express my heartfelt gratitude to Dr. Hamre for co-organizing this conference and to all speakers and discussants and the participants for attending the conference in spite of your busy schedule.

Today, we will discuss the possible future courses of US and Japanese economies. Both economies have faced with difficulties and challenges. There are many issues to talk. For example, will our economies encounter with double dips this year? Which sector could we expect to play a leading role to stimulate and accelerate respective economic growth? Could green related technologies and health related new inventions actually substitute auto and its related industries? What sort of new business-models would help corporations to revitalize their activities? Should we be ready for a new capitalism with a change of roles of governments and private sectors to some extent?

In our national security front, our discussion may have to touch upon if a commitment made by a former government can survive a power shift. As you know well, the new Hatoyama cabinet
decided to review by May this year a commitment made by former cabinets. Obama administration also changed a policy implemented by the Bush administration regarding missile deffense system which had been deployed in Check and Poland.

Our topics won't end up at those points. We have to scrutinize the realities and cultivate possible collaborative policy areas between our two countries. For example, we have to address the real reasons for the financial crisis that was deepened by Lehman Brother's collapse in September 2008. Since then many international conferences were held, including G20 in London and Pittsburgh to come up with counter measures to prevent recurrence of financial crisis from happening. However they have never referred to possible prohibition of a securitization of sub-prime loans which was the most important reason for the financial crisis. Securitization in general would be all right but when it comes to a securitization of sub-prime loans the story would become quite different. Would there be any rooms for governments of the US and Japan to co-operate with each other to prohibit it?

Another example would be for us to take joint initiatives to keep stimulating our economies, analyzing whether economic recoveries as of now in both countries are sustainable and, if not, coming up with proposals to continue the current recoveries. In this respect, a President Obama's proposal to impose a new tax on financial institutions, including banks is quite interesting. Reportedly, the Government of Japan has been asked if it will do the same. If Japan accepts this proposal, it will become the first economic collaboration between Japan and the US under the current governments.

The Democratic Party of Japan stated in its manifest for the election for the house of representatives that it would accelerate negotiations on a Japan-US FTA. Although it would be ideal to conclude a full fledged US-Japan FTA, my proposal is to strike a .US-Japan FTA only for trade in services since I am afraid that the US Congress and Japanese diet are not supportive of such a full fledged FTA which includes both trade in goods and services.
Although the original nature of a FTA remains in the economic field, a FTA can lead to strengthened political relations between countries involved in it. Like any other FTAs, a US-Japan FTA, even if it be that only for trade in services, will contribute a lot to deepen and enhance the mutual dependence further more.

I would like to expect that the speakers and commentators today would touch upon those issues, and at the end of this dialogue, all the participants could find out the wisdoms and realistic solutions to make the economies securities of both countries more vigorous and more closely knitted.

With these comments, I would like to thank the people belonging to Center for Strategic and International Studies (CSIS), and the other participants once again for joining us today.

Thank you.

2017. JULY 2016. JUNE 2015. SEPTEMBER 2014. DECEMBER 2013. OCTOBER 2013. FEBRUARY 2011. NOVEMBER 2010. OCTOBER 2010. JANUARY 2008. DECEMBER 2007. NOVEMBER 2006. OCTOBER 2006. JULY 2005. SEPTEMBER 2004. MAY 2003. OCTOBER

4.Participants(Wednesday, January 27, 2010)

(in alphabetical order)

Grant Aldonas, Senior Adviser, CSIS

Matthew P. Goodman Senior Adviser to the Under Secretary for Economic, Energy, and Agricultural Affairs, U.S. Department of State
Yoshikazu Goto Director-General for Manufacturing Industries Policy, Ministry of Economy, Trade, and Industry (METI)
John Hamre President and CEO, CSIS
Noboru Hatakeyama Chairman & CEO, Japan Economic Foundation
Akira Kojima Trustee and Senior Fellow, Japan Center for Economic Research
Richard Katz Editor-in-Chief, Oriental Economist Report
Ryo Kubota Chairman, President & CEO, ACUCELA, Inc.
Michael Mussa Senior Fellow, Peterson Institute for International Economics
Kevin Nealer Principal, Scowcraft Group
Derek Scissors Research Fellow, Heritage Foundation
Steven Schrage Scholl Chair in International Business, CSIS
Amy Searight Adjunct Fellow, CSIS
Shunji Yanai Judge of the International Tribunal for the Law of the Sea; Former Japanese Ambassador to the United States

Tuesday, December 9, 2008

Date Tuesday, December 9, 2008
usforum2008usforum2008
Venue Washington D.C., USA
Offices of Dewey & LeBoeuf, Conference Center, Ground Floor (1101 New York Avenue, NW Washington, DC 20005-4213)
Sponsors Japan Economic Foundation (JEF)
Dewey & LeBoeuf LLP
Topics The U.S.-Japan Relationship
New Challenges, New Opportunities for New Administrations
A Vision for the U.S.-Japan Relationship: Partnership for Leadership
Session I: Political Relationship between Japan and U.S.
Session II: Economic Relationship between Japan and the U.S.
Session III: Paths Forward - Conclusions and Action Agenda
Program
Chairman's Speech  

ParticipantsTuesday, December 9, 2008List

SummaryJoint Action Agenda (English)Joing Action Agenda (Japanese)

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4.Participants(Tuesday, December 9, 2008)

(in alphabetical order)

Amb. Karan Bhatia Vice President and Senior Counsel for International Law and Policy, General Electric Company
Kent E. Calder Edwin O. Reischauer Professor, SAIS, John Hopkins University Amb. Rust M. Deming, Adjunct Professor Japan Studies, SAIS, John Hopkins University
Richard Dyck President, TCS Japan K.K.
Cathleen Enrigh Vice President, Federal Government Affairs, Western Growers Association
James W. Fatheree President and COO, U.S.-Japan Business Council, Inc
Robert C. Fauver President, Fauver Associates, LLC
Ellen L. Frost Visiting Fellow, Peterson Institute for International Economics
Yukiko Fukagawa Professor, Waseda University
Edward Gresser Director, Trade & Global Markets Group, Progressive Policy Institute
Naoyuki Haraoka Executive Managing Director, Japan Economic Foundation
Noboru Hatakeyama Chairman & CEO, Japan Economic Foundation
Thomas R. Howell Partner, Dewey & LeBoeuf LLP
Kent Hughes Consulting Director, Global Energy Initiative, Woodrow Wilson Center for Scholars
Brian Katulis Senior Fellow, Center for American Progress
Richard B. Katz Senior Editor, The Oriental Economists Reporter
Daisuke Kotegawa Executive Director, International Monetary Fund
Kazumasa Kusaka Executive Advisor, DENTSU, Inc.
Charles D. Lake II Chairman, Aflac Japan and Representative in Japan
Dana M. Marshall Senior Advisor, Dewey & LeBoeuf LLP
William A. Nitze Chairman, Oceana Energy Company
David Pumphrey Deputy Director and Senior Fellow, Energy and National Security Program, Center for Strategic & International Studies
Amb. Alan Wm. Wolff Partner, Dewey & LeBoeuf LLP
Amb. Shunji Yanai Former Japanese Ambassador to the U.S.

Tuesday, November 27, 2007

Date Tuesday, November 27, 2007
usforum2007usforum2007
Venue Washington DC, USA
at Peterson Institute for International Economics (1750 Massachusetts Avenue, NW Washington DC 20036)
Sponsors Japan Economic Foundation
Peterson Institute for International Economics

TopicsNew Asia-Pacific Trade Initiatives
A Joint Conference sponsored by the Japan Economic Foundation and
Peterson Institute for International Economics

Agenda

8:30 a.m. Registration and coffee

9:00 a.m. Welcoming RemarksC. Fred Bergsten, Peterson Institute for International Economics
Noboru Hatakeyama, Japan Economic Foundation

9:15 a.m. Session IBilateral and regional FTAs and EPAs that the US and Japan have concluded and are now pursuing with third countries (regions), and other trade initiatives in the region. To include discussion of:

  1. Such specific FTAs as KORUS FTA and Japan-ASEAN FTA, Japan-Malaysia FTA, CAFTA and US-Australia FTA incorporating a comparative study of the liberalization rates (including tariff elimination rates);
  2. Region-wide initiatives including 10+3 and 10+6 in East Asia, FTAA in the Americas and their implications for US and Japan;
  3. Other FTA initiatives in the region, such as China-ASEAN and Korea-EU, and Japanese and US reactions to them;
  4. Recent agreements between US Administration and Congress as presumed basis for future US FTAs.

Moderator: C. Fred Bergsten

Presenters (15 minutes each):
Jeffrey Schott, Senior Fellow, Peterson Institute for International Economics
Yukiko Fukagawa, Professor, School of Political Science and Economics, Waseda University
Chulsu Kim, Senior Advisor at Lee International IP and Law Group in Seoul and Chairman of Institute for Trade & Investment (ITI) (Former Minister of Trade, Industry and Energy of the Republic of Korea and former Deputy Director-General of the WTO)

10:45 a.m. Coffee Break

11:00 a.m. Session IIIssues towards the conclusion of a high quality US-Japan EPA/FTA

  1. Access to goods market
    Elimination of tariffs: how should the liberalization rate covered under a US-Japan FTA be calculated? One idea is to make the calculation on the basis of domestic demand for each item in both countries.
  2. Trade in Services
    With respect to the service sector, should, as a general rule, the entire sector be subject to the agreement and, if so, is this possible in the US-Japan FTA?
  3. Investment
    The general rule is national treatment. Is this possible in the US-Japan FTA?
  4. Food and energy national security
    From the perspective of national security on food and energy, we will discuss export prohibitions or restrictions temporarily applied to prevent or relieve critical shortages of foodstuffs or other products essential to the exporting contracting party, based on Article 11.2 (a) of GATT.
  5. Major hurdles
    Rice and other agriculture in Japan? Autos in US? Specific services sectors in both?

Moderator: Noboru Hatekeyama

Presenters (15 minutes each):
Scott Bradford, Visiting Fellow, Peterson Institute for International Economics
Shujiro Urata, Professor of Economics, Graduate School of Asia-Pacific Studies, Waseda University

Discussants (10 minutes each):
Edward Lincoln, Director, Center for Japan-US Business & Economic Studies, New York University
Clyde Prestowitz, President, Economic Strategy Institute
Junichiro Kuroda, Special Advisor to the Ministry of Economy, Trade & Industry
(METI) and Director, JETRO New York

12:30 p.m. LuncheonSpeaker:
Wendy Cutler, Assistant U.S. Trade Representative for Japan, Korea and APEC Affairs

1:30 p.m. Session IIICreation of a Free Trade Area of Asia-Pacific (FTAAP)

  1. Design of FTAAP - like NAFTA (high standards) or like EAFTA (lower standards)?
  2. Road map to FTAAP - all-in negotiation or docking of current FTAs or plurilateral agreement of sub-APEC groupings with subsequent broadening?
  3. Relationship to other current or prospective megaregional agreements, especially 10+3/10+6 and FTAA.

Moderator: Chulsu Kim

Presenters (15 minutes each):
Gary Hufbauer, Peterson Institute for International Economics
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
C. Fred Bergsten, Director, Peterson Institute for International Economics

Discussants (10 minutes each):
Claude Barfield, Resident Scholar, American Enterprise Institute
Shujiro Urata, Professor of Economics, Graduate School of Asia-Pacific Studies, Waseda University

4:00 p.m. Conclude

Papers and PresentationsSession I Bilateral and regional FTAs and EPAs that the US and Japan have concluded and other trade initiatives in the region.Presenters:Jeffrey Schott, Peterson Institute
The FTA Frenzy in East Asia: Current Status and Prospects

Yukiko Fukagawa, Waseda University
Redesigning East Asian Integration

Chulsu Kim, Senior Advisor at Lee International IP and Law Group in Seoul and Chairman of Institute for Trade & Investment (ITI)
Korea's FTAs: Current Status and Issues

Session II Issues towards the conclusion of a high quality US-Japan EPA/FTAPresenters:Scott Bradford, Peterson Institute
An Analysis of a Possible Japan-US Trade Agreement
An Analysis of a Possible Japan-US Free Trade Agreement

Shujiro Urata, Waseda University
Japan-US EPA: Benefits and Obstacles

Session III Creation of a Free Trade Area of Asia-Pacific (FTAAP)Presenters:Gary Hufbauer, Peterson Institute
Fitting Asia-Pacific Agreements into the WTO System
Multilateralizing Regionalism Fitting Asia-Pacific Agreements into the WTO System

Noboru Hatakeyama, Japan Economic Foundation
The Creation of a Free Trade Area of the Asia Pacific

C. Fred Bergsten, Director, Peterson Institute
Toward a Free Trade Area of the Asia Pacific

ParticipantsTuesday, November 27, 2007List

SummarySummary (English)Summary (Japanese)

Chairman's SpeechOpening remarks by Mr. Noboru Hatakeyama (November 27, 2007 at JEF-PIIE Conference, Washington DC)

Dr. Fred Bergsten, Distinguished guests, Ladies and Gentlemen, it is my great pleasure to be here with you today in this important conference.

First of all, I would like to express my heartfelt gratitude to all speakers and discussants, and the participants for attending the conference in spite of your hectic schedule. Especially, I would like to thank Dr. Fred Bergsten for making the conference realized as a co-host.

Today, we will discuss a possible US-Japan FTA and the creation of a Free Trade Area of Asia Pacific. However, the environment surrounding us is not necessarily favorable to us. In Japan, for example, the DPJ, an opposition party, won the past election, pledging to give all farmers direct subsidies, thereby undermining the Japanese Government policies to limit the recipients of direct subsidies to those farmers with capacity and strong will to sustain agriculture in the years to come.

It seems to me that the ruling party, the LDP, is trying to cope with this situation. It may happen that the ruling party, the LDP, is tempted to do the similar policies. In other words, the kind of what is going down there with agricultural policy can be called the competitive protection between the LDP and the DPJ rather than the competitive liberalization.

Here in this great country, the wind might be blowing to the direction of more protection. Last month I visited China twice right after the Party Congress. Over there, there seemed to be a unanimous chorus to the effect that farmers are important, which I have never heard before.

Up until before the Party Congress, it was said that since farmers were not well represented in the People's Congress as well as in the Cabinet Meeting in the Government. The Chinese Government did not have to listen to farmers voices. This might have been why Zhu Rongi, former Prime Minister of China, could take the courageous policies to expose Chinese industries, including agriculture, to the foreign competition through participating in the WTO and committing FTAs with other countries.

Now, whether or not China can maintain same agricultural policies remains to be seen after the Party Congress with a chorus, "farmers are important."

I am quite sure that it is vitally important for both countries to realize a US-Japan FTA as well as an FTAAP. However, the hurdles, as I mentioned above, against the creation of these FTAs are getting higher and higher. Therefore, through our discussion today, it might be more than happy if we find out the wisdoms which will be able to address these new circumstances.

Thank you very much.

2017. JULY 2016. JUNE 2015. SEPTEMBER 2014. DECEMBER 2013. OCTOBER 2013. FEBRUARY 2011. NOVEMBER 2010. OCTOBER 2010. JANUARY 2008. DECEMBER 2007. NOVEMBER 2006. OCTOBER 2006. JULY 2005. SEPTEMBER 2004. MAY 2003. OCTOBER

4.Participants(Tuesday, November 27, 2007)

Participants List for the Conference on Tuesday, November 27
(Listed in alphabetical order)

Participants from Japan and the Republic of Korea

Yukiko Fukagawa Professor, Faculty of Political Science and Economics, Waseda University
Noboru Hatakeyama Chairman and CEO, Japan Economic Foundation
Chulsu Kim Senior Advisor at Lee International IP and Law Group in Seoul and Chairman of Institute for Trade & Investment (ITI) (Former Minister of Trade, Industry and Energy of the Republic of Korea and former Deputy Director-General of the WTO)
Junichiro Kuroda Special Advisor to the Ministry of Economy, Trade & Industry (METI) and Director, JETRO New York
Shujiro Urata Professor of Economics, Graduate School of Asia-Pacific Studies, Waseda University

Participants from the U.S.

Claude Barfield Resident Scholar, American Enterprise Institute
C. Fred Bergsten Director, Peterson Institute for International Economics
Scott C. Bradford Visiting Fellow, Peterson Institute for International Economics
Gary Hufbauer Peterson Institute for International Economics
Edward Lincoln Director, Center for Japan-US Business & Economic Studies, New York University
Adam S. Posen Deputy Director and Senior Fellow, Peterson Institute for International Economics
Clyde Prestowitz President, Economic Strategy Institute
Jeffrey J. Schott Senior Fellow, Peterson Institute for International Economics
Thomas Moll Research Assistant, Peterson Institute for International Economics

Guest speakers

Wendy Cutler Assistant U.S. Trade Representative for Japan, Korea and APEC Affairs