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 You are in: Under Secretary for Public Diplomacy and Public Affairs > Bureau of Public Affairs > Bureau of Public Affairs: Press Relations Office > Press Releases (Other) > 2002 > October
Press Statement
Richard Boucher, Spokesman
Washington, DC
October 11, 2002


Japan -- Economic Reform

The United States welcomes the commitment and determination of the Koizumi Administration to address seriously Japan's economic problems.

Everyone knows that addressing Japan's non-performing loan problems and improving the strength of corporate balance sheets will be difficult. However, as we learned so well in the late 1980s in the United States, the benefits of determined action will be considerable and far outweigh the costs of adjustment.

We believe tackling these problems is vital to restoring a strong and vibrant economy to Japan. We value our strong alliance with Japan, and we believe a strong Japanese economy will contribute to the growth of the world economy and to the security and stability of the Asia Pacific region and the world.

The United States welcomes the leadership shown by Prime Minister Koizumi to revitalize the Japanese economy. He and Minister Takenaka have laid out an approach to dispose of non-performing loans. We strongly support the efforts to achieve these important goals.


Released on October 11, 2002

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