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  150 years of Trade, Commerce and Cultural Exchange

The Second Annual State of the US- Japan Business Relations Symposium

  Program Date:   February 19, 2002
  Application Due:   N/A
  Location:   The Rayburn House Office Building, Washington, DC
  Program Type:   Business, Public Affairs
  Contact:   National Association of Japan-America Societies
Tel: 202-783-4550

  Symposium Overview    
      Keynote Speakers

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.

Chairman and CEO, AT&T Chairman, US-Japan Business Council
Akin Gump Strauss Hauer & Feld and former US Ambassador to Japan
Chairman and CEO, Nasdaq International
Chairman, Toshiba Corporation Chairman, Japan-US Business Council
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
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
  Symposium Report  

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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