US/Japan Trade
Does the United States face a trade
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Does the United States face a trade crisis with Japan? Are the Japanese competing unfairly by not allowing American goods into their markets while "dumping" their goods into the United States? Does the trade imbalance that the United States has with Japan indicate that the US economy is destined for weakness? These questions have received much attention by the American media recently, and there have been charges that America is selling its heritage and economic strength to the Japanese. Some Americans, mired in recession, have turned to "Japan-bashing" and place the responsibility for the trade situation with Japan solely on the Japanese. In their book Reconcilable Differences, Fred Bergsten and Marcus Noland take on the complicated issue of trade between America and Japan, and move beyond the headlines and the emotions to examine the issue in detail. This research considers their work in light of recent events and considers whether the perceived crisis is, in fact, a crisis, and what steps can be taken to return the relationship to a more equitable footing.While the media and many politicians focus on the bilateral relationship between Japan and the United States, such a focus is short-sighted and ignores the wider implications of the economic policy of each country. Japan and the United States are both global economic powers, importing and exporting to a number of countries besides each other. When viewed from a global perspective
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ecreased.
The Clinton Administration's Japan Policy
When President Clinton took office, it marked the first time in 12 years that a Democratic president would be making trade decisions. There was wide speculation about the new president's policy, but what has emerged is a policy that seeks to strengthen both the fundamental ability of American business to compete and the nation's ability to negotiate with its trading partner.
Clinton seeks to improve the competitive ability of the nation by reducing the budget deficit and improving the nation's performance in technology and education. Such improvements are necessary if the United States is to reclaim a strong competitive position, and not just with regards to Japan. These improvements will affect the nation's long-term ability to compete on a global level.
The Clinton administration also seeks to enforce commitments made to Japan by the Reagan and Bush administrations, but which were never fully implemented. Key among these commitments is the reduction of the budget deficit. If the Clinton plan is accompanied by the requisite changes in monetary policy, the American global deficit would be reduced, and the bilateral deficit with Japan would be reduced by approximately $1
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Approximate Word count = 2832
Approximate Pages = 11 (250 words per page)
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