Cablegate: Tokyo Media Reaction - Global Economy

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UNCLAS TOKYO 000008

SIPDIS

SIPDIS

STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR,
EAP/J, EAP/P, PM;
USTR FOR PUBLIC AFFAIRS OFFICE;
TREASURY FOR OASIA/IMI;
SECDEF FOR OASD/PA;
CP BUTLER OKINAWA FOR AREA FIELD OFFICE;
PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR

E.O. 12958: N/A
TAGS: OIIP KMDR KPAO JA
SUBJECT: TOKYO MEDIA REACTION - GLOBAL ECONOMY

1. LEAD STORIES: Top stories on Thursday morning
include a plan by the U.S. and Japanese governments to
begin as early as this month talks on drawing a roadmap
for sharing missile defense intelligence.

2. "Uncertainty in U.S. Causing Anxiety" The moderate-
conservative Yomiuri editorialized (1/3): "The future
of the global economy appears dim. The world economy
achieved steady growth at the 5-percent level in real
terms in 2007. Although the economies of the U.S.,
European nations, and Japan slowed down, those of the
BRICs - Brazil, Russia, India, and China - maintained
double-digit growth and compensated for the floundering
economies of the developed nations. According to the
forecast by the International Monetary Fund, global
economic growth will edge down to the 4-percent level
this year due to the expected low level growth of 1 to
2 percent in Japan, Europe, and the U.S. The most
pressing concern is a possible stall in the U.S.
economy, which became the 'epicenter' of the subprime
loan crisis after a housing bubble burst there... Early
action should be taken to prevent the subprime loan
problem from entering a vicious circle and being
prolonged. The success of preventive measures will
determine whether the global economy will be put on a
stable course."

DONOVAN

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