Japanese PM calls for 'arc of freedom' spanning Pacific(open challenge to China)

AFP ^ | 08/22/07

[DTogo]

My first thought, too! HA!

[redgolum]

How is it being received by other countries? I understand that there is still some bad blood over WWII.

[TigerLikesRooster]

In S. Korea:

the right: S. Korea could be outmaneuvered by Japan and cut out of loop.

the left: Don’t worry. India would not lean to Japan and US camp. India is just making nice to everyone.

People here are always suspicious of Japan’s move.

[Wiz]

I am not sure about India-Australia relations, but the relationship between the four are going well. Australia is likely to decided to provide Uranium to India, and the other two (US and Japan) are supportive. I’ve seen a poll result from Australia showing positive feelings toward Japan, even there may be some constrains from WWII. China has lost its trust, even in pro-Asia Japan for the food scandals and the frictions over anti-Japan demonstrations in China. In Australia, Prime Minister Howard have met Tibet activist despite criticism of its weak stance against China (and what was surprising was the criticism came from the left). Just years ago, a Chinese diplomat in Australia that requested asylum disclosed China’s plans to politically colonize Australia, increasing anti-Americanism. Not any government wants an open old fashion cold war with China, but it is not hard to imagine militarizing aggressive China is creating fear in the region, pushing the four toward an unity.

[Dr. Marten]

Nit. He’s the head of government, not the head of state.

In Japan, the Emperor is the head of state.

The Emperor is only a figurehead - much Like the Queen of England. They lack any power over their nations.

[StarCMC]

I’m not much of a Merkel fan (Gitmo?) but so far I really like the Brit!

[hedgetrimmer]

Maybe they can call it the Security and Prosperity Partnership. Nope, that one’s taken.

[Vigilanteman]

Abe has more backbone than 80% of our so-called leaders in government here. When I lived in Japan, I was told that Bangladesh modeled their flag (red sun, green background) on the Japanese flag because they felt they had so much in common-- rising from the ashes of a war.

But one thing prevented them from ever coming even close. I can't tell you exactly what. But it is a five letter word which starts with an "I" and ends with an "M".

[ArrogantBustard]

Or perhaps the “Great East Asia Co-Prosperity Sphere” as a name...

I'm glad I'm not the only one who remembers that ... still, Japan seems to have benefited from the attitude adjustment we gave them in 1945. I'm willing to "trust but verify".

[CarrotAndStick]

Until 1989 or so, the country was officially secular. That changed, and the system no longer worked.

Yes, Islam.

[SunkenCiv]

Ping!

[Sherman Logan]

Absolutely. However, the Queen and Emperor are both heads of state and outrank their Prime Ministers, who are only heads of government.

The US is unusual in that the President fills both roles, although this is true in some other countries also. In most republics there is a president with little direct political power who nevertheless outranks his premier in a formal sense. Israel, India, Ireland, Iran, Iraq are some examples just from the I’s.

[Sherman Logan]

True enough. Which is why I said it was just a nit.

The President in most republics fills the ceremonial roles of the old absolute monarchs, and in theory appoints the premier and has the usually theoretical power to remove him from office.

The theory behind this is that the president is above politics, just as the British or Japanese monarch is, and thus can serve as a symbol of national unity without partisan issues getting involved. Parties and administrations come and go, but the nation endures.

[Cacique]

btt

[Last Dakotan]

I guess “The Greater East Asia Co-Prosperity Sphere” didn’t work out the way they had intended.

[Iris7]

Chinese attack on the Japanese yen carry trade last week has really frightened the Japanese ruling class. About ten days ago the Yen hit 111 Yen / US Dollar. Since then the Bank of Japan has been in continuous plenary session and Toyota et. al. are looking at insolvency.

In case one is curious, most of the “sub-prime mortgage collateralized obligation” ruckus is due to Japan getting super cheap access to the US market (120 - 130 Yen / US Dollar) and China getting the “strengthen the Yuan” and “level the playing field” tariff threatening rhetoric. The Chinese stopped buying new CDO paper in May - June with the result that the US and European banks in the last three weeks needed one trillion dollars in "emergency" funding to stay open.

The Chinese lack the dollar reserves to pull this off by themselves, I think; as I read things petroleum producing government dollar reserves were pulled out of the CDO market on and just previous to July 17th with the results we have all seen. These dollar reserves are something like ten - fifteen times larger than China's.

I don't think we will see much of dumb as rocks US politicians talking about putting tariffs and "health inspections" on Chinese goods for a while. Probably we have seen the last of the poisoned pet food - lead paint on Mattel toys type stories too. The Chinese showed us unmistakably that they can crash the US and international banking system at will and WILL NOT be pushed around.

"Crashing the banking system" is the same thing as "almost all really rich people are suddenly without a nickel." Not exaggerating.

[TigerLikesRooster]

"Crashing the banking system" is the same thing as "almost all really rich people are suddenly without a nickel." Not exaggerating.

I know. I did not realize that oil-producing countries are working in concert with China.

The lesson from globalized finance:

We have no choice to buy hazardous craps to keep our financial system afloat.

I suppose this will continue until the system crashes at not-so-distant future.

[Iris7]

I have been looking for signs of oil country sovereign funds being used last month. Data is not good. Evidence about China is pretty clear. Google news hits indicating pretty high up US-Euro concern about sovereign funds made a jump during the 2nd half of July.

The following points to Chinese operations in the Gulf:

http://www.kuwaittimes.net/read_news.php?newsid=MTMwMDY2Nzc0

Published Date: August 27, 2007

“KUWAIT: Head of Public Relations at Kuwait Investment Authority Dalal Al-Rifae said the authority will receive a high ranking Chinese delegation representing major economic and investment companies as part of a tour in the Gulf region. Al-Rifae stressed that the visit comes out of the authority’s keenness to strengthen its relations with Chinese companies through the meeting of both sides to discuss joint economic topics.”

The following article can be read as a veiled threat to sell dollar denominated assets suddenly and massively, “more in sorrow than in anger”, of course:

http://www.arabnews.com/?page=6&section=0&article=100484&d=27&m=8&y=2007

[IslandJeff]

Sad that such pan-global visions no longer originate in the USA.

Re-arm Japan and turn them loose.