Japan: saying no. (Asia)

The Economist (US) | November 19, 1994 | Copyright

AT LEAST one country is delighted by the outcome of the APEC summit. Earlier this year, Japan had feared a confrontation between ambitious trade liberalisers, notably America and Australia, and APEC's more protectionist Asian members. This would have presented the Japanese with something they hate: being forced to choose between their alliance with the West and their growing economic bonds with Asia. This week's compromise--APEC will liberalise, but at a leisurely pace--has let Japan off the hook for the moment.

But not for ever. Trade is only one subject on which the ...

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