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Time - Man of the Year
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Time_Man_of_the_Year_Compact_Publishing_3YX-Disc-1_Compact_Publishing_1993.iso
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06229912.000
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1992-09-22
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THE WEEK, Page 27BUSINESSThere's Plenty of Blame to Go Around
A Japanese report asserts that all countries are unfair traders
After years of enduring the world's criticism of its trading
practices, Japan last week dished out some of its own. In a
212-page Report on Unfair Trade Policies by Major Trading
Partners, an advisory group to the Ministry of International
Trade and Industry (MITI) outlined the trading patterns of 10
regions, including the U.S., the European Community, Korea and
Singapore. The report pointed out violations of fair trade by
each area in 10 separate categories, such as quotas,
anti-dumping measures and government procurement. The U.S. fared
worst of all, with black marks in nine out of 10 categories. The
report cited, for example, American pressures on Japan to limit
its auto exports as an unfair quota. The E.C. and Korea came in
next with violations in six categories.
"All countries are sinners," declared the report, which
proclaimed itself designed to "bring a dispassionate and
constructive approach" to the discussion of trade. The only
problem was that the timing could not have been worse. Japan's
global trade surplus -- about $78 billion last year -- is
soaring toward record levels. Last week a House Ways and Means
subcommittee passed a trade bill with provisions for sanctions
aimed at Japan. U.S. officials saw the miti report as simply the
accused pointing its finger at the accuser. "People who live in
glass houses should be careful about their stones," declared
White House spokesman Marlin Fitzwater. House Democratic leader
Richard Gephardt said Japan "doesn't have the credibility to
call others unfair."
Americans weren't the only ones irked by Japan's sudden
assertion that other countries violate free trade. Japanese
industry officials, many of whom have followed MITI orders to
limit exports and market shares in order to ease trade friction,
felt the report only fueled the frustrations of foreign traders.
"I don't understand why they put out such a report," said a
Japanese auto executive. "MITI would never have allowed us to
say such things."