Word: japanism
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...point out in response that they have already let their currency rise almost 6% against the dollar in the year since it was unpegged. Being historically minded, they could also note that when the U.S. forced Tokyo to allow the yen to rise sharply against the dollar in 1985, Japan was plunged into a recession from which it is still struggling to emerge. Given the social unrest already plaguing an economically booming China, they might add, the chaos such a prolonged economic downturn could engender is frightening to contemplate. These arguments are of course all too familiar to both sides...
India's Prime Minister Manmohan Singh, who arrived in Japan for a four-day visit Wednesday, will be feted with all the traditional state visit perks, including meetings with top Japanese corporate leaders and a ceremony with Emperor Akihito and Empress Michiko. But by also according Singh the unusual honor of addressing a joint session of the Japanese parliament, the Diet, Tokyo is signaling just how seriously Japanese Prime Minister Shinzo Abe is taking the summit with Singh...
...Deepening ties between the two biggest democracies in Asia is part of Abe's efforts to chart a new direction for Japan's foreign policy, one less consumed with the U.S. and more embracing of Asia - albeit selectively. "With [former Prime Minister] Junichiro Koizumi, the U.S. was Number 1, Number 2 and Number 3," says Takako Hirose, a professor of South Asian politics at Tokyo's Senshu University. "I think for Abe, Asia is more important...
...tape, the distance - and the decided lack of karaoke bars. Such indifference is still reflected in the small amount of trade between the two countries: Japanese investment in India last year totaled just $253 million - 4% of the amount Japanese investors committed to China over the same period. And Japan receives just 3% of Indian software exports...
...Bilateral trade has not kept pace with Japan and India's relationship," says Aftab Seth, a former Indian ambassador to Tokyo. "Japanese business has always focused very heavily on China...