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Cablegate: Tokyo Media Reaction - G20 Summit

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P 160505Z NOV 08
FM AMEMBASSY TOKYO
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UNCLAS TOKYO 003160

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 - G20 SUMMIT

1. LEAD STORIES: All Monday papers gave top play to the declaration
issued on Saturday by leaders of the G20 nations concerning measures
to deal with the financial crisis.

2. "Unity Should Be Maintained" The liberal Asahi editorialized
(11/17): "...The declaration appears to be a simple compilation of
wishes of the G20 nations. However, the summit made an initial step
to prevent the current crisis from spreading further and happening
again... It is significant that the G20 nations could reach an
agreement by sharing consensus. There are many issues disagreed
among the G20 nations, though. Whether they will be able to create a
framework for cooperation depends on their efforts to overcome those
differences."

3. "Historic Cooperation Should Be Put into Practice" The liberal
Mainichi stated in an editorial (11/17): "... The G20 nations made
the first step toward the resolution of the financial crisis by
sharing the consensus that a lack of cooperation will make all of
them losers. Although their efforts will be determined by their
future actions, we welcome the G20 agreement as a move to confirm
their future direction."

4. "Determination Displayed to Resolve Crisis" The moderate Yomiuri
opined in an editorial (11/17): "It is impossible to overcome the
current financial crisis by industrialized nations alone. It is
historically significant that leaders of emerging nations took part
in the summit."

5. "Next Step Will Be Tested" The business-oriented Nikkei's
editorial said (11/17): "... We welcome the determination
demonstrated by the G20 nations to fight the financial crisis by
overcoming their differences... However, no end to the current
crisis is in sight yet, and the world economy will likely worsen
further. The declaration alone is not sufficient."

6. "Action Called For" The liberal Tokyo Shimbun contended in an
editorial (11/17): "The G20 nations agreed at their emergency summit
on reform of the global financial system and other issues. Although
this is the first step toward the resolution of the problem, how to
put their ideas into shape remained undetermined. Cooperation
between developed nations and emerging economies is essential."

SCHIEFFER

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