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150 years of Trade, Commerce and Cultural
Exchange |
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The Second Annual State of the US- Japan
Business Relations Symposium
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Program Date: |
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February 19, 2002 |
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Application Due: |
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N/A |
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Location: |
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The Rayburn House Office Building, Washington, DC |
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Program Type: |
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Business, Public Affairs |
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Contact: |
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National Association of Japan-America
Societies
Tel: 202-783-4550
Email: contact@us-japan.org |
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Symposium
Overview |
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Keynote
Speakers |
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Leaders met for the Second Annual State of US-Japan Busiens Relations
symposium on Febrary 19th, 2002. This program was initiated by the
National Association of Japan-America Societies to pull together
experts from the public and private sectors focused on the bilateral
trade and economic relationship between the US and Japan. Keynote
address by C. Michael Arnstring, Cairman, AT&T and Taizo Nishimuro,
Chairman, Toshiba. Highlights of the program will be available online
in April, 2002.
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| Chairman and CEO, AT&T Chairman, US-Japan
Business Council |
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| Akin Gump Strauss Hauer & Feld and former
US Ambassador to Japan |
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| Chairman and CEO, Nasdaq International |
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| Chairman, Toshiba Corporation Chairman,
Japan-US Business Council |
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| Panel Speakers |
| Adam S. Posen, Senior Economist, Institute
for International Economics |
| Masanobu Matsui, Washington Bureau Chief,
Nihon Keizai Shimbun |
| Mustafa Mohatarem, Senior Economist, General
Motors |
| Yoshihiro Sakai, Economist, American Enterprise
Institute |
| William R. Farrell, President, Dynamic Strategies
Asia |
| Michael Andrews, Vice President, Citigroup
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| Glen S. Fukushima, President, Cadence Design
Systems Japan |
| Charles Lake II, Deputy President, AFLAC
Japan |
| Thomas Sands, Vice President, Eli Lilly
& Co. |
| Takahiko Iwaya, Director, Health and Wealfare
Department, JETRO |
| Masao James Toyama, Vice President, International
Public Affairs Sony Electronics |
| Donald Westmore, Executive Director, American
Chamber of Commerce in Japan |
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Symposium Report |
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Presented February 19, 2002 in the Rayburn House Office Building
by The National Association of Japan-America Societies (NAJAS) in
cooperation with the Congressional Economic Leadership Institute,
the Keizai Koho Center and the US-Japan Business Council with funding
from the Japan-US Friendship Commission, the Keizai Koho Center
and the Japan Foundation Center for Global Partnership.
This program was initiated in 2000 by NAJAS to pull together several
organizations and experts from the public and private sectors focused
on the bilateral trade and economic relationship to inform a broader
audience on current US-Japan trade and economic issues and to emphasis
the continued importance and interdependence of the US and Japanese
economies.
At the end of 2001, the US economy was still considered in a recession
and the Japanese recession showed no signs of improvement. Events
of September 11 further exacerbated Japan's financial crisis. By
February 2002, Japan was winding down its fiscal year (April 1-March
31) and faced a possible run on banks in anticipation of a lowering
of the insurance cap on bank accounts, deflation fears, with the
yen at around 134 to the dollar, and the possibility of several
major retail bankruptcies. The US economy was pulling out of its
recession by February but forecasts for the Japanese economy remained
gloomy with some observers of Japan predicting Japan's economy would
implode by the end of its fiscal year. There was a sense of urgency
on both sides as the US urged Japan to deal swiftly with non-performing
loans and pick up the pace of restructuring and reform.
With this background senior business leaders and economists met
for a half-day session on Capitol Hill for the Second Annual State
of the US-Japan Business Relationship Symposium.
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