Japan-US Forum

JEF - APARC Forum

[more]Past Forum

Theme Economic Policy Challenges in the US and Japan
Date 10:00am - 5:15pm, Friday, 2 Jun 2017
Venue Bechtel Conference Center, Encina Hall, Stanford University
Co-host Asia Pacific Research Center (APARC), Stanford University
Japan Economic Foundation

usforum2017
Japan-US Forum 2016More Pictures

ProgramProgram

ParticipantsParticipants

BiographiesSpeaker Biographies

SummarySummary in English

Presentation MaterialsNicholas Bloom
Ito Takatoshi
Kobayashi
Okada
Tanaka

Questionnaire ResultQuestionnaire Result

The full text of a reportJEF - APARC Forum

US-Japan Forum 2018

[more]Past Forum

Theme Challenges for the GlobalEconomy and a Better Globalization
Date 9:00am - 5:30pm, Friday, 25 May 2018
Venue Stein Room, The Brookings Institution, 1775 Massachusettes Ave, NW, Washingtonm DC
Co-host The Brookings Institution
Japan Economic Foundation

usforum2017 Japan-US Forum 2018More Pictures

ProgramProgram

ParticipantsParticipants

BiographiesSpeaker Biographies

SummarySummary in English

Presentation MaterialsSession 1 Jonathan Ostry
Session 2 Mayumi Fukuyama
Session 3 Amar Bhattacharya

Questionnaire ResultQuestionnaire Result

Friday, June 3, 2016

Date Friday, June 3, 2016
Venue Center for American Progress (CAP), Washington DC, USA
Co-hosted Japan Economic Foundation (JEF)
Center for American Progress (CAP)

usforum2016
Japan-US Forum 2016More Pictures

ProgramCenter for American ProgressJEF

The Global Economy and the US-Japan Alliance: Charting a Course for Next US Administration and Prime Minister Abe's Road to 2020

The US-Japan Forum aims to identify constraints on sustainable economic growth in the United States, Japan, and the world, and policies to confront these impediments. At a time of great uncertainty in the global economy, the 2016 Forum will address urgent issues such as income inequality, stagnant wage growth, structural impediments to growth, and other factors that impact both the United States and Japan, as well as the rest of the world. The Forum will also explore the implications of these economic, social and political challenges for international relations in the Asia-Pacific and globally, and for the US-Japan alliance.

Welcome and Opening RemarksNeera Tanden, President and CEO, CAP
Kazumasa Kusaka, Chairman and CEO, JEF

Session One: Domestic and International Economic UncertaintiesJapanese presenter
Masaaki Tanaka
; Senior Advisor, The Bank of Tokyo-Mitsubishi UFJ; Vice-Chair, Board of Councilors, US-Japan Council
Presentation

US presenter
Paula Stern
, Founder and Chair, The Stern Group; Former Chairwoman of the US International Trade Commission

Questions
* What are the trends for the global economy? How will they affect the United States and Japan?
* What is the outlook for the domestic economies of the United States and Japan?
* How will the challenge of rising inequality impact sustainable growth in the United States and Japan?
* What are the available policy options to respond to these challenges?

Session Two: Domestic PoliticsUS presenter
John Halpin
; Senior Fellow, CAP
Japanese presenter
Keiichiro Kobayashi
; Professor, Faculty of Economics, Keio University
Presentation

Questions
* What is the outlook for domestic politics in Japan and the United States through 2020?
* How will domestic politics impact sustainable economic growth in the United States and Japan?
* How will current and emerging domestic constraints and structural impediments, such as inequality and depopulation (in the case of Japan), define our future?
* How will domestic politics impact foreign policy in Japan and the United States?

Moderator
Hideichi Okada
, Executive Advisor, NEC Corporation; Former Vice Minister for International Affairs, METI of Japan

Session Three: Political-Economy of the Asia-PacificJapanese presenter
Hideichi Okada
, Executive Advisor, NEC Corporation; Former Vice Minister for International Affairs, METI of Japan
Presentation

US presenter
Nirav Patel
, President and CEO, The Asia Group

Questions
* What are the trends in the political-economy of the Asia-Pacific?
* What is China's economic future? How will a Chinese slowdown impact international relations?

Moderator
Glen S. Fukushima
, Senior Fellow, CAP

Session Four: US-Japan Regional and Global CooperationUS presenter
Vikram Singh
, Vice President, National Security and International Policy, CAP

Japanese presenter
Yoriko Kawaguchi
; Professor, Meiji Institute for Global Affairs, Meiji University; Former Member of the House of Councilors of Japan; Former Minister of Foreign Affairs; Former Minister of the Environment
Presentation

Questions
* What should be the agenda for US-Japan cooperation over the coming four years? How will it be impacted by domestic and international economic developments?
* How should the United States and Japan prioritize cooperation globally versus in the Asia-Pacific?

Moderator
Naoyuki Haraoka
, Executive Managing Director, JEF


Wrap-Up and Closing RemarksNeera Tanden, President and CEO, CAP
Kazumasa Kusaka, Chairman and CEO, JEF

Agenda

ParticipantsFriday, June 3, 2016List

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

Friday, September 25, 2015

Date Friday, September 25, 2015
usforum2015usforum2015
Venue Stein Room, The Brookings Institution, 1775 Massachusetts Avenue, NW, Washington, DC 20036-2103
Sponsors Japan Economic Foundation (JEF)
Brookings Institution, Global Economy and Development Program

TopicsJapan-US Forum 2015
"Uncertain Prospects and Policy Challenges for the Global Economy"

9:30am - 10:00am Welcome and Opening RemarksKemal Derviş, Vice President and Director, Global Economy and Development, Brookings Institution
Kazumasa Kusaka, Chairman and CEO, Japan Economic Foundation

10:00am - 11:45am Session 1: Challenges to the global economy - Perspectives on advanced economies including US and JapanModerator
Kemal Derviş
, Vice President and Director, Global Economy and Development, Brookings Institution

Panel
John Lipsky
, Distinguished Visiting Scholar, School of Advanced International Studies, Johns Hopkins University; Former First Deputy Managing Director, IMF
Martin Baily, Senior Fellow, Economic Studies, Brookings Institution
Takeo Hoshi, Professor, Stanford University
Presentation
Yasuyuki Sugiura, President and CEO, Mitsubishi Corporation (Americas)
Hideo Suzuki, Former Director-General of Trade Policy Bureau, Ministry of Economy, Trade and Industry (METI)
Presentation

12:00pm - 1:00pm Lunch

1:00pm - 2:30pm Session 2: Challenges to the global economy - Perspectives on developing economies including China and IndiaModerator
Takeo Hoshi
, Professor, Stanford University

Panel
Ayhan Kose
, Director, Development Prospects Group, The World Bank
Naoyuki Yoshino, Dean, Asian Development Bank Institute; Professor Emeritus, Keio University
Presentation
Rakesh Mohan, Executive Director, IMF
David Dollar, Senior Fellow, Foreign Policy, and Global Economy and Development, Brookings Institution

2:30pm - 2:45pm Coffee Break

2:45pm - 4:15pm Session 3: Challenges of climate change and energyModerator
Amar Bhattacharya
, Senior Fellow, Global Economy and Development, Brookings Institution

Panel
Yoriko Kawaguchi
, Professor at Meiji Institute for Global Affairs; Former Minister for Foreign Affairs; Former Minister of the Environment, Government of Japan
Charles K. Ebinger, Senior Fellow, Energy Security and Climate Initiative, Brookings Institution
Timmons Roberts, Nonresident Senior Fellow, Global Economy and Development, Brookings Institution; Professor, Brown University.


4:15pm - 4:30pm Closing RemarksKazumasa Kusaka, Chairman and CEO, Japan Economic Foundation
Amar Bhattacharya, Senior Fellow, Global Economy and Development, Brookings Institution

Agenda

ParticipantsFriday, September 25, 2015List

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

Tuesday, September 30, 2014

Date Tuesday, September 30, 2014
usforum2014usforum2014
Venue Rome Auditorium, The Benjamin T. Rome Building
1619 Massachusetts Avenue NW, Washington, DC 20036, USA
Sponsors Japan Economic Foundation (JEF)
The Edwin O. Reischauer Center for East Asian Studies, The Johns Hopkins University Paul H. Nitze School of Advanced International Studies (SAIS)

TopicsJapan-US Forum 2014
Where is the US-Japan Alliance Heading for in the Dynamically Changing 21st Century?

-How do domestic politics in the US and Japan deal with those challenges?-

Opening RemarksDean Vali Nasr, Johns Hopkins School of Advanced International Studies (SAIS)

Conceptual Introduction: "The Challenge of Constraints"Kazumasa Kusaka, Chairman and CEO, Japan Economic Foundation (JEF)
Kent Calder, Director of Edwin O. Reischauer Center for East Asian Studies, SAIS

Session I: Changing World Geopolitics and New ConstraintsPanel I: EnergyPresider
Kent Calder
, Director of Edwin O. Reischauer Center for East Asian Studies, SAIS

Speakers
Nobuo Tanaka
, Former Executive Director, The International Energy Agency (IEA); Global Associate for Energy Security and Sustainability, Institute of Energy Economics, Japan (IEEJ)
Presentation

Guy Caruso, Senior Adviser, Energy and National Security Program, Center for Strategic and International Studies (CSIS)
Presentation

Panel II: SecurityPresider
Ambassador Ichiro Fujisaki
, President, The America-Japan Society; Former Ambassador of Japan to the United States

Speaker
Eliot A. Cohen
, Robert E. Osgood Professor of Strategic Studies, Director of the Strategic Studies Program at SAIS; Former Counselor of the U.S. Department of State

Panel III: The Role of AsiaPresider
Ambassador Rust M. Deming
, Adjunct Professor, SAIS; Former Ambassador of the United States to Tunisia; Director of the Office of Japanese Affairs in the Department of State; Principal Deputy Assistant Secretary for East Asian and Pacific Affairs

Speaker
Charles Morrison
, President, East-West Center
Presentation

Panel IV: The Role of the United StatesPresider
Ambassador Ichiro Fujisaki
, President, The America-Japan Society; Former Ambassador of Japan to the United States

Speaker
James Zumwalt
, Deputy Assistant Secretary of State, Bureau of East Asian and Pacific Affairs, U.S. Department of State

LuncheonPresentation Topic
"A House Divided? Foreign Policy Implications of the 2014 Mid-Term Elections"

Speaker
Daniel Bob
, Former Senior Adviser, Senate Finance and House Foreign Affairs Committees; Director of Programs and Senior Fellow, Sasakawa Peace Foundation, USA

Session II: Challenges of Global Political EconomyPanel I: Macro-Economy and International FinancePresider/Speaker
Naoyuki Yoshino
, Dean, Asian Development Bank Institute (ADBI); Professor Emeritus of Keio University, Tokyo, Japan
Presentation

Speaker
Robert Dohner
, Deputy Assistant Secretary for Asia, United States Department of the Treasury

Panel II: TradePresider
Hideichi Okada
, Senior Executive Vice President, NEC Corporation
Presentation

Speakers
Gary Hufbauer
, Reginald Jones Senior Fellow, Peterson Institute for International Economics
Bill Brooks, Adjunct Professor, SAIS; Senior Adviser Reischauer Center for East Asian Studies

Panel III: Structural Reform and Its Global Context Presider
Kazumasa Kusaka
, Chairman and CEO, Japan Economic Foundation (JEF)

Speaker
Kurt Tong,
Principal Deputy Assistant Secretary, Bureau of Economic and Business Affairs, United States Department of State

Closing RemarksKazumasa Kusaka, Chairman and CEO, Japan Economic Foundation (JEF)
Kent Calder, Director of Edwin O. Reischauer Center for East Asian Studies, SAIS

Program

ParticipantsTuesday, September 30, 2014List

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

Wednesday, October 2, 2013

Date Wednesday, October 2, 2013
usforum2013usforum2013
Venue Room 1501, International Affairs Building, Columbia University
420 West 118th Street, New York, NY 10027 U.S.A.
Sponsors The Japan Economic Foundation (JEF)
The Center on Japanese Economy and Business, Columbia Business School
The Center for Japanese Legal Studies, Columbia Law School

Topics"State Intervention and Private Enterprise: Japan, the U.S., and China"

2:00 - 2:10 Welcoming RemarksHugh Patrick, R.D. Calkins Professor of International Business Emeritus and Director, Center on Japanese Economy and Business, Columbia Business School; Co-Director, APEC Study Center, Columbia University

Kazumasa Kusaka, Chairman and CEO, Japan Economic Foundation

2:10 - 2:50 Panel I: United StatesSpeakers
Gary Clyde Hufbauer, Reginald Jones Senior Fellow, Peterson Institute for International Economics
Presentation

Discussants
Christopher J. Mayer, Paul Milstein Professor of Real Estate, Columbia Business School;
Roger Kubarych, International Adviser, Craig Drill Capital; Former National Intelligence Manager, National Intelligence Council

Moderator
Merit E. Janow, Dean; Professor of Professional Practice, International Economic Law & International Affairs, School of International and Public Affairs, Columbia University

2:50 - 3:30 Panel II: ChinaSpeaker
Yasheng Huang, International Program Professor in Chinese Economy and Business; Professor of Global Economics and Management, MIT Sloan School of Management
Presentation

Discussant
Long Ke, Senior Fellow, Economic Research Center, Fujitsu Research Institute
Presentation

Moderator
Curtis J. Milhaupt, Parker Professor of Comparative Corporate Law; Director of the Parker School of Foreign and Comparative Law; Fuyo Professor of Japanese Law; Director of the Center for Japanese Legal Studies, Columbia Law School

3:30 - 4:10 Panel III: JapanSpeaker
Kazuhiko Toyama, Representative Director and CEO, Industrial Growth Platform, Inc.
Presentation

Discussants
Sota Kato, Professor, International University of Japan; Senior Fellow, Tokyo Foundation;
Presentation

Edward Lincoln, Professorial Lecturer, George Washington University; Adjunct Professor of Economics, Department of Economics, Columbia University

Moderator
Alicia Ogawa, Senior Advisor, Center on Japanese Economy and Business, Columbia Business School; Adjunct Associate Professor, School of International and Public Affairs, Columbia University

4:10 - 4:25 Coffee Break

4:25 - 5:25 RoundtableU.S. Panel
Gary Clyde Hufbauer
Christopher J. Mayer

China Panel
Yasheng Huang
Long Ke

Japan Panel
Kazuhiko Toyama
Kazumasa Kusaka, Chairman and CEO, Japan Economic Foundation

Moderator
Hugh Patrick

5:25 - 5:30 Closing RemarksCurtis J. Milhaupt

Program

ParticipantsWednesday, October 2, 2013List

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

Thursday, February 14, 2013

Date Thursday, February 14, 2013
usforum2013usforum2013
Venue The Cato Instiute
1000 Massachusetts Avenue NW
Washington, D.C.2001-5403 U.S.A.
Sponsors Japan Economic Foundation (JEF)
The Cato Institute (Cato)

Topics"U.S. - Japan Economic Relations in an Era of Political Uncertainty, Sluggish Growth, and Shifting Demographics"
A Joint Conference sponsored by the Japan Economic Foundation and the Cato Institute

Introductory RemarksJohn A. Allison, President and CEO, Cato Institute
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation

Keynote SpeakerClayton Yeutter, Senior Advisor, Hogan Lovells

Session I: Assessments of the Economic and Political Climates in the United States and Japan: Implications for the Bilateral RelationshipSpeakers
Makoto Utsumi, President and CEO, Japan Credit Rating Agency
Arthur Alexander, Adjunct Professor, Asia Studies Program, Georgetown University
Presentation
Gary Hufbauer, Senior Fellow, Peterson Institute
Discussion Facilitator: Amb. Terry Miller, Director, Center for International Trade and Economics, Heritage Foundation

Session II: Global Macroeconomic and Other External Influences Likely to Impact the U.S.-Japan RelationshipSpeakers
Takashi Shiraishi, President, National Graduate Institute for Policy Studies
Phil Levy, Associate Professor of Business Administration, University of Virginia, Darden Graduate School of Business
Presentation
Derek Scissors, Senior Research Fellow, Asia Studies, Heritage Foundation
Discussion Facilitator: Sallie James, Trade Policy Analyst, Cato Institute

Lunch and Luncheon Speaker
Jim Kolbe, Senior Adviser, McLarty Associates and Senior Transatlantic Fellow, German Marshall Fund of the United States

Session III: Prospects for and Impediments to Trade Agreements and Other Bilateral or Regional Forms of CooperationSpeakers
Kazumasa Kusaka, Adviser, Mitsubishi Electric Corporation; Former Vice Minister for International Affairs, METI
Presentation
Wendy Cutler, Assistant U.S. Trade Representative for Japan, Korea and APEC Affairs, Office of the U.S. Trade Representative
William Brooks, Adjunct Professor, Japan Studies, SAIS, Johns Hopkins University
Presentation
Discussion Facilitator: Dan Ikenson, Director, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute

Session IV: New and Heterodox Ideas for Cooperation and Economic GrowthSpeakers
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
Jim Fatheree, Senior Director, Japan and Korea, President, US-Japan Business Council, U.S. Chamber of Commerce
Adam Posen, President, Peterson Institute
Discussion Facilitator: Claude Barfield, Resident Scholar, American Enterprise Institute

Closing Remarks
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
John A. Allison, President and CEO, Cato Institute

Program

ParticipantsThursday, February 14, 2013List

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

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

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.

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

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.

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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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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.

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Monday, October 2 - Thursday, October 5, 2006

Date Monday, October 2 - Thursday, October 5, 2006
usforum2006-10usforum2006-10
Venue Washington D.C., Chicago and Los Angeles, U.S.A.
Co-hosted Japan Economic Foundation
Chicago Council on Global Affairs (Former Chicago Council on Foreign Relations)
Pacific Council on International Policy(PCIP)

ProgramA BINATIONAL STUDY (U.S. RELEASE EVENTS)
A BINATIONAL STUDY GROUP REPORT "ENGAGING CHINA AND INDIA:
AN ECONOMIC AGENDA FOR JAPAN AND THE UNITED STATES"

AGENDA FOR U.S. RELEASE EVENTS

EVENTS IN WASHINGTON, D.C.

Monday, October 2, 20061030-1130 Multi-bureau State Department BriefingLocation: U.S. Department of State

Study Group Participants:
•Marshall M. Bouton, President
•Kenneth Dam
•Noboru Hatakeyama
•Sakutaro Tanino

Attendees:
Staff from regional and functional bureaus of the U.S. Department of State

1345-1415 Briefing at Department of Energy with the Secretary and staffLocation: U.S. Department of Energy

Study Group Participants:
•Marshall M. Bouton
•Kenneth Dam
•Noboru Hatakeyama
•Sakutaro Tanino

Attendees:
Samuel W. Bodman, U.S. Secretary of Energy
Karen Harbert, Assistant Secretary of Energy for Policy and International Affairs

1600-1700 Briefing at Federal Reserve BankLocation: Federal Reserve Bank

Study Group Participants:
•Marshall M. Bouton
•Kenneth Dam
•Noboru Hatakeyama
•Sakutaro Tanino
•Marina v.N. Whitman

Attendees:
Ms. Karen Johnson, Director of the Division of International Finance
Senior staff from the division of International Finance

Tuesday, October 3, 20060930-1000 Briefing with USTR Susan SchwabLocation: USTR

Study Group Participants:
•Marshall M. Bouton
•Kenneth Dam
•Geoffrey Garrett
•Noboru Hatakeyama
•Akira Kojima
•Sakutaro Tanino
•Marina v.N. Whitman

Attendees:
Ambassador Susan Schwab, USTR
USTR office staff

1115-1145 Briefing at Chinese EmbassyLocation: Embassy of the People's Republic of China in the United States

Study Group Participants:
•Marshall M. Bouton
•Kenneth Dam
•Geoffrey Garrett
•Noboru Hatakeyama
•Akira Kojima
•Sakutaro Tanino
•Marina v.N. Whitman

Attendees:
Zhou Wenzhong, Chinese Ambassador to the United States
Chinese Embassy staff

1230-1330 Luncheon for the official release of reportLocation: Willard InterContinental, Pierce Room

Study Group Participants:
•Marshall M. Bouton
•Kenneth Dam
•Geoffrey Garrett
•Noboru Hatakeyama
•Akira Kojima
•Sakutaro Tanino
•Marina v.N. Whitman

Attendees:
Key thinkers in international economics and Asia affairs, media and scholars

1400-1430 Briefing with Senate Foreign Relations Committee staffersLocation: 450 Dirksen SOB

Study Group Participants:
•Marshall M. Bouton
•Kenneth Dam
•Geoffrey Garrett
•Noboru Hatakeyama
•Akira Kojima
•Sakutaro Tanino
•Marina v.N. Whitman

Attendees:
Keith Luce, Senior Professional Staff Member

1500- 1630 Congressional staffer briefing convened by California Institute in conjunction with Senator Durbin's officeLocation: 2261 Rayburn HOB

Study Group Participants:
•Marshall M. Bouton
•Kenneth Dam
•Geoffrey Garrett
•Noboru Hatakeyama
•Akira Kojima
•Sakutaro Tanino
•Marina v.N. Whitman

Audience:
•Congressional staffers

Wednesday, October 4, 2006845 depart from Washington, D.C. on United Airlines flight #607
950 arrive in Chicago, IL
(flight was delayed for 5 hours due to the ground weather in Chicago)

EVENTS IN CHICAGO, IL

1830-1600 Dinner program cosponsored by The Chicago Council and the JapanAmerica Society of Chicago
Location: Metropolitan Club of Chicago, Sears Tower

Study Group Participants:
•Kenneth Dam
•Noboru Hatakeyama
•Akira Kojima
•Sakutaro Tanino

Audience:
Key Chicago Council members
Board Members of the Japan America Society

Thursday, October 5, 2006800 depart Chicago on United Airlines flight #103

EVENTS IN LOS ANGELES, CA
1026 arrive in Los Angeles, CA
(flight was delayed for 3 hours due to mechanical trouble by the UA)

1400-1600 Afternoon reception and public release eventLocation: Omni Hotel

A Conversation with Mayor Antonio Villaraigosa and Release of a Joint U.S.-Japan Study Group Report

Keynote Speaker:
Hon. Antonio R. Villaraigosa, Mayor, Ciry of Los Angeles

Program Chair:
Mr. John Andrews, West Coast Editor/Los Angeles Bureau Chief, The Economist

Study Group Cochairs:
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
Kenneth Dam, Max Pam Professor Emeritus of American & Foreign Law, The Law School, University of Chicago

Special Introductions by:
Mr. Warren Christopher, Senior Partner, O'Melveny & Myers LLP
Dr. Geoffrey Garrett
Presiden, Pacific Councio on International Policy

Study Group Participants:
•Noboru Hatakeyama
•Kenneth Dam
•Geoffrey Garrett
•Akira Kojima
•Sakutaro Tanino

Attendees:
•Pacific Council members
•Los Angeles business leaders
•Los Angeles-based media

1800 Private dinner hosted by the Japan America SocietyLocation: Omni Hotel

Study Group Participants:
•Noboru Hatakeyama
•Geoffrey Garrett
•Akira Kojima
•Sakutaro Tanino

Attendees:
JAS board members

Links to relevant documents:

ParticipantsMonday, October 2 - Thursday, October 5, 2006List

SummaryA Binational Study Group Report (English)A Binational Study Group Report (Japanese)

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Thursday, July 6 - Monday, July 10, 2006

Date Thursday, July 6 - Monday, July 10, 2006
usforum2006-7usforum2006-7
Venue ANA Hotel Tokyo, Japan:
12-33 Akasaka 1-chome Minato-ku Tokyo 107-0052
Tel: +81-3-3505-1111
Co-hosted Japan Economic Foundation
Chicago Council on Foreign Relations (CCFR)
Pacific Council on International Policy (PCIP)

ProgramA BINATIONAL STUDY (The Second Study Group Meetings in July 2006)
Binational Study on the Impact of the Rise of China and India, and the U.S.-Japan Economic Relationship

Agenda for the Second Study Group Meetings in Tokyo

Thursday, July 6, 200618:30-20:30 Welcoming Dinner hosted by JEFGuest Speaker:
Kazumasa Iwata, Deputy Governor, Bank of Japan

Guests:
Kunihiko Matsuo, Chairman, INPEX CORPORATION
Zembei Mizoguchi, President, Japan Center for International Finance

Participants:
Japanese study group members
US study group members

Friday, July 7, 200608:00-08:50 Breakfast SessionCo-Chairs:
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
Kenneth Dam, Max Pam Professor Emeritus of American and Foreign Law, University of Chicago Law School

Participants:
Japanese study group members
US study group members

-To discuss the overall report structure, findings and recommendations.

09:00-12:30 Morning Session - Session 1Key topic 1:
Policies designed to facilitate sustained growth and development in India and China (including structural/market reforms, investments, infrastructure development, stable property rights, etc.)

Co-Chairs:
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
Kenneth Dam, Max Pam Professor Emeritus of American and Foreign Law, University of Chicago Law School

Speaker:
Taizo Nishimuro, President and CEO, Tokyo Stock Exchange, Inc, Adviser to the Board, Toshiba Corporation

Participants:
Japanese study group members
US study group members

Discussants:
James Jin Du, Professor of economics, Faculty of Asian-Pacific Studies, Department of International Development, Takushoku University
Hideki Esho, Dean and Professor, Faculty of Economics, Hosei University

-To discuss the key topic on the final report
-To agree on the key topic including policy implications and recommendations

12:30-14:00 Luncheon and discussionParticipants:
Japanese study group team members
US study group team members

14:00-17:00 Afternoon Session - Session 2Key topic 2:
Technology sharing and its relationship to innovation

Co-Chairs:
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
Kenneth Dam, Max Pam Professor Emeritus of American and Foreign Law, University of Chicago Law School

Speaker:
Fujio Cho, Chairman, Toyota Motor Corporation

Participants:
Japanese study group members
US study group members

Discussants:
Tomoo Marukawa, Associate Professor, Institute of Social Science, University of Tokyo
Hiroyuki Oba, Professor, International Economics Department, Reitaku University

-To discuss the key topic on the final report
-To agree on the key topic including policy implications and recommendations

18:30-20:30 Dinner hosted by JEFParticipants:
Japanese study group members
US study group members

Saturday, July 8, 200609:00-12:30 Morning Session - Session 3Key topic 3:
Meeting the energy challenges faced by the four countries

Co-Chairs:
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
Kenneth Dam, Max Pam Professor Emeritus of American and Foreign Law, University of Chicago Law School

Speaker:
Kunihiko Matsuo, Chairman, INPEX CORPORATION

Participants:
Japanese study group members
US study group members

Discussants:
Tsutomu Toichi, Senior Managing Director & COO, The Institute of Energy Economics, Japan
Shigeru Sudo, Director, Energy and Environment Program, International Development Center of Japan

-To discuss the key topic on the final report
-To agree on the key topic including policy implications and recommendations

12:30-14:00 Luncheon and discussionParticipants:
Japanese study group members
US study group members

14:00-17:00 Afternoon Session - Session 4Key topic 4:
Trade relationship issues, including the WTO, protectionism, and examining ways to avoid politicization of trade and exchange rate disputes, and Evolution of East Asia as an economic region and how it relates to the United States and Japan

Co-Chairs:
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
Kenneth Dam, Max Pam Professor Emeritus of American and Foreign Law, University of Chicago Law School

Speakers:
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
Zembei Mizoguchi, President, Japan Center for International Finance

Participants:
Japanese study group members
US study group members

Discussants:
Sayuri Shirai, Professor of Economics, Keio University
Shujiro Urata, Professor of Economics at Graduate School of Asia-Pacific Studies, Waseda University

-To discuss the key topic on the final report
-To agree on the key topic including policy implications and recommendations

18:30-20:30 Dinner hosted by JEFGuest Speaker:
Masakazu Toyoda, Director-General, Commerce and Information Policy Bureau, Ministry of Economy, Trade and Industry

Participants:
Japanese study group members
US study group members

Sunday, July 9, 2006 - free day

Monday, July 10, 200609:00-12:00 Concluding Session - A closed session of study group members

09:00-09:10 Guest Speaker:Yasuhisa Shiozaki, Senior Vice-Minister for Foreign Affairs

09:10-12:00 Concluding SessionCo-Chairs:
Noboru Hatakeyama, Chairman and CEO, Japan Economic Foundation
Kenneth Dam, Max Pam Professor Emeritus of American and Foreign Law, University of Chicago Law School

Participants:
Japanese study group members
US study group members

-To confirm the final report based on each discussion on the respective key topics.
-To discuss the dissemination seminars in both the US (in the first week of October 2006) and Japan (in late January 2007)

12:00-13:30 Luncheon and discussion hosted by JEFParticipants:
Japanese study group members
US study group members

ParticipantsThursday, July 6 - Monday, July 10, 2006List

SummaryMinutes of July 7Minutes of July 8

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Monday, September 19 - Wednesday, September 21, 2005

Date Monday, September 19 - Wednesday, September 21, 2005
usforum2005usforum2005
Venue San Francisco and Chicago, U.S.A.
Sponsors Japan Economic Foundation (JEF)
Chicago Council on Foreign Relations (CCFR)
Pacific Council on International Policy (PCIP)
Program A BINATIONAL STUDY (The First Study Group Meetings in September 2005) Binational Study on the Impact of the Rise of China and India, and the U.S.-Japan Economic Relationship
Chairman's Speech  

ParticipantsMonday, September 19 - Wednesday, September 21, 2005List

SummarySummary

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May 26, 2004

Date May 26, 2004
usforum2004usforum2004
Venue Center for Strategic and International Studies (CSIS)
1800 K Street, NW, Washington, D.C. 20006
TEL 202-457-8748 FAX202-835-3899
Sponsors Japan Economic Foundation (JEF)
Center for Strategic and International Studies (CSIS)
Topics Session 1:
Evolving U.S.-Japan Relationship
Session 2:
Political and Security Challenges in Iraq
Session 3:
Challenge for Economic Reform and Development

Chairman's SpeechNoboru Hatakeyama Chairman and CEO Japan Economic Foundation

I'd like to express my heartfelt gratitude to Dr. Hamre and CSIS for co-organizing this conference entitled Reconstruction of Iraq, U.S.-Japan Cooperation and the Implications for Future Bilateral Relations with the Japan Economic Foundation, JEF.

Also I'd like to extend my gratitude to the participants and audience in this conference. Participants include, for example, Ambassador Samadi [ph] from Indonesia to Washington, D.C. He used to be the Ambassador to Japan. I enjoyed a very good friendship with him.

Also, Ambassador McCormick is here. He has been a long-time friend of mine and our relationship started from a common experience at not CSIS but SII -- Structure Impediment Initiative.

So I'd like to extend my gratitude to them.

JEF is a non-profit organization whose mission is to disseminate information regarding Japan. For this purpose JEF has been publishing a bi-monthly English magazine by the name of Japan Spotlight since 1980 and co-organizing international conferences like this with other organizations of foreign countries.

Today the conference is one of them, and this is the second such conference co-organized by CSIS and JEF in Washington, D.C.. The first one was held last October to discuss the Chinese economy including the issue of the Renminbi.

To reconstruct Iraq Japan has been and will be implementing three measures. Firstly, the GOJ has committed to give ODA, official development assistance, to Iraq. The amount of ODA will total $5 billion between 2003 and 2006, with $1.5 billion in grants and $3.5 billion in very low interest rate loans. Roughly two-thirds of the grants have already been implemented.

The second measures is debt forgiveness, debt relief Japan will offer to Iraq. Among developed countries that have outstanding official credits to Iraq, Japan has the biggest arrear the amount of which is $4.1 billion, excluding compensation claims for delayed repayments. If we include that amount the amount will double.

Prime Minister Koizumi told Mr. James Baker, Special Envoy to the President of the U.S., that Japan would commit to substantially curtailing its official credits to Iraq in the Paris Club creditors meeting if other countries like Russia and France are prepared to do the same.

The third measure is the dispatch of JDF to Iraq.

The fact that Japan has engaged in the three issues is itself clear evidence that Japan is cooperating with the U.S. in the Iraqi war.

The purpose of this conference is to find how we can cooperate with each other in implementing these measures and what else Japan and the U.S. can do to rebuild Iraq.

For example, if the U.S. can improve the security situation in Iraq Japanese companies will be able to help reconstruct Iraq and may be able to bid as subcontractors for U.S. projects. Likewise there may be scope for American companies to participate in Japanese projects.

If we can come up with some specific ideas like this through our discussion today it would be highly appreciated.

Once again, thank you very much indeed for co-organizing and participating in this conference, and especially my gratitude goes to Ambassador Yanai who has come all the way from Tokyo with me yesterday and he is now a professor at the Chuo University. Thank you very much indeed.

ParticipantsMay 26, 2004List

SummarySummary

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October 15, 2003

Date October 15, 2003
usforum2003usforum2003
Venue Center for Strategic and International Studies (CSIS)
1800 K Street, NW, Washington, D.C. 20006
TEL 202-457-8748 FAX202-835-3899
Sponsors Japan Economic Foundation (JEF)
Center for Strategic and International Studies (CSIS)
Topics Session 1:
Impact of China's Rapid Economic Development
Session 2:
Political, Economic and Social Challenges facing China: Implications for China's Mid-term Development
Session 3:
Influence of Chinese and Other Asian Foreign Exchange Systems on Industrial Competitiveness and the Macro Economy
Session 4:
Summary and Conclusions

Chairman's SpeechNoboru Hatakeyama Chairman and CEO Japan Economic Foundation

Chinese challenges the currency issues. And regarding the development of Chinese economy, I think everybody agreed that, for the time being, Chinese economy would continue to grow. There was a kind of consensus on this point.
However, there are many challenges China is going to face. There are so many challenges that I cannot remember every one of them, so I came up with an easy way to remember. This is an alphabetical order. A is appreciation of the Renminbi. B is bad loans. C is corruption, although it was not mentioned. D is deflation, which seems to be almost over, but as well as democratization necessity. And E is environmental issues, including the necessity of water, and the avoiding of desertification. Enterprises owned by state might also be a challenge. And F is fiscal deficit. G is gap between city and rural areas. And H is Household Registration Act, which was not necessarily mentioned, but this is important issue. As you know well, in China, there is a special law called the "Household Registration Act". This law prohibits, in principle, the movement of people from rural areas to urban areas, or vice versa, unless they have jobs and houses in their destination. Because of this law, factory managers in the coastal areas, such as Shenzhen do not allow workers from rural areas to work for more than three years in general. Therefore, those workers have to quit and return to their homes in rural areas.
The factory managers then hire new workers from rural areas at the same wages as they were paying to the former workers. This mechanism explains why wages have remained so low in the Chinese economy. However, because of the low productivity of agriculture due to the excessive farmer population, as the result of this law, and because of the Chinese people's desire for more freedom, this law has started to be relaxed in some cities, and in such cities, the wages have started going up. This is another challenge. China might lose one of the most attractive points - low wage rate in the near future. I is Islam power in the west of China. There is an Islam group working there. And J is justice system, which was mentioned by Mr. Nishimuro. And this is number 10, so I can go on like this, but I will stop here.
And regarding currency issues, there are interesting discussions. But I think everybody agreed with the idea, with the necessity of stopping or abandoning a fixed rate system, fixed rate exchange rate system. However, what matters turned out to be the timing. And if we abandon fixed exchange rate system, then we have to either float, or theoretically speaking, they have to adopt a floating system.
However, as Mr. Meyer pointed out, the Chinese people are saying now, of course we will go to floating system in the future, not now, not soon. And because they are just fighting against deflation, so they don't want to invite another deflationary element into their economy, which is floating system.
And in addition to this, they are very busy to be trying to comply with the WTO obligation, so it is not the time for them to change their currency system.
In addition to this, as Mr. Kuroda pointed out, leads and lags might be there if they keep fixed rate system, but if they go to a floating system, all of a sudden then shock wave might come by overshooting.
Then what should they do? The other alternative would be just to revalue, one-time appreciation. But if fixed system, pegging system is wrong, then how about another pegging system? Is it okay? If, theoretically speaking, pegging system is wrong because of Chinese necessity to depend upon the American monetary policy, depend upon FED policy, or Chinese unilateral decision, judgment, it's no good to keep fixed rate system. Then another pegging system, which is the result of revaluation, should also be no good theoretically. So where should we go?
However, although theoretically speaking, revaluation might not be good, in the practical world, this might be okay to head-off the protectionistic sentiment, especially in the congress. There was such an opinion. However, more practical opinion would be that a crawling pegging system might be better than just a simple revaluation, because simple revaluation would invite further revaluation. So there were different opinions as to the measures to change this system after the abandoning fixed rate system.
However, the direction of changing this system was agreed almost unanimously, and they agreed about -- almost agreed that now is the timing for China to change. And maybe some broader band system, including possible crawling peg system might be necessary to be considered.
Now last point I want to mention is the market opening, which was mentioned also. Someone wrote in FT the other day that China does not have to rush to go to floating system. Before then, China should open their markets more. But in the practical world, they are committed to WTO, and their schedule for liberalization is incorporated in their schedule for the WTO up until the year 2005. So they are busy to comply with this schedule already, so that's why they were not too enthusiastic in the Cancun negotiation. They happen to be one of the 22 or 21 developing countries group, and this was the group who ruined this Cancun meeting. And so China was not too enthusiastic to come up with the agreement coming out of the Cancun meeting, because they are too busy to be trying to comply with the obligation with WTO.
So before 2005, it is not too realistic for us to ask China to open their market further. After 2005, it will depend upon the development of argument in Cancun and the other meeting for our Doha development agenda. Thank you very much.

ParticipantsOctober 15, 2003List

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