Cablegate: Tokyo Media Reaction - Financial Crisis, Asem

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P 240530Z OCT 08
FM AMEMBASSY TOKYO
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UNCLAS TOKYO 002971

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 - FINANCIAL CRISIS, ASEM

1. LEAD STORIES: Top stories on Friday morning included
the estimate by a Japanese government panel on social
security that concluded that health and nursing care
programs will likely require 94 trillion yen in 2025,
up 50 percent from fiscal 2007.

2. "ASEM Has Heavy Responsibility" The liberal Asahi
editorialized (10/24): "While the impact of the
financial crisis is spreading worldwide, leaders of 43
nations from Asia and Europe will gather in Beijing.
They will hold a summit of the Asia-Europe Meeting
(ASEM).... Their coordination is needed now more than
ever, as U.S.-style capitalism based on market
fundamentalism has run aground. The economies of ASEM
nations account for half of the global economy and 60
percent of international trade. Asia and Europe have
the responsibility of calming the current financial
crisis."

SCHIEFFER

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