Thursday, October 16, 2008


"We must take the lead in setting up a way to buy up the world's risky assets. A major motive is that we can help the U.S. and the world economies," ruling party lawmaker Kotaro Tamura said on his Web page. "It's a big chance for us to have the U.S. grateful and indebted to us."

...But Jochen Legewie, a Japan expert and president of German communications consultancy CNC Japan, expressed skepticism that Tokyo could capitalize on the West's need for help.

For years, Japan gave aid to poor nations and never got much credit, he said. The West has tended to view Japan as a fat wallet with little to assert on policy, scoffing at Tokyo for "checkbook diplomacy." Japan Times

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