Word: tokyo
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Dates: during 1970-1979
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Countermeasures from Tokyo. Japan, which stands to lose more than any other nation under the Nixon program, showed a deepening resistance toward it. Last week five Japanese ministers traveled to Washington for an annual meeting with U.S. Cabinet members, which concentrated heavily on problems of the "Nixon shocker," as it is called in Japan. Nixon and Secretary of State William Rogers made elaborate personal gestures aimed at underscoring the basic Japanese-U.S. friendship. Rogers took the delegation of visiting Japanese and their wives to a performance of Leonard Bernstein's Mass at the Kennedy Center for the Performing...
Parts of the world-the slums of great cities like New York, London and Tokyo-are obviously overcrowded. But this does not mean that the entire planet is running out of room. Although India has a major population problem, with about 570 million people crammed into 1.1 million sq. mi., Australia has more than twice that much land and only 1/40 the population. Canada, Brazil and Russia all have vast empty spaces. And although much of this space is jungle or steppe or desert, the Israelis have demonstrated in the Negev that technology and hard work can make the most...
Historic Beating. On the world monetary markets, the dollar continued to slip fractionally against the strong currencies floated against it. In the week since Tokyo reluctantly gave up trying to maintain the official rate of 360 yen to the dollar, U.S. currency has declined 6.4% in relation to Japan's, far less than the 12% to 15% revaluation that the Administration hopes will eventually occur. Tokyo's Finance Ministry announced that in the first eight months of 1971, Japan's dollar holdings increased from $4.4 billion to $12.5 billion -a staggering leap of nearly 200% that...
...Grand Vision. It is when they look beyond their shores that the Japanese find the world most troubling. Laments Shinkichi Eto, respected Tokyo University professor of political science: "Japanese leadership has no grand political vision, no long-range plan of national aims." That seemed not to matter very much through the long years of bipolar, East-West confrontation. "But now that the multipolar world is emerging," Eto adds, "the Japanese suddenly have no idea what they should...
...only decisive development came at week's end from Tokyo. After two weeks of agonizing over the Nixon pressure and several times denying flatly that the yen would be revalued, the government of Prime Minister Eisaku Sato finally announced that it would allow the Japanese yen to float against the dollar. This was probably an unavoidable decision for Sato, but it was especially painful and will produce wide-ranging economic woes for Japan. By in effect increasing the price of the yen, Sato dulled the cutting edge of Japan's export drive, not only in the U.S.-which...