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Cablegate: Tokyo Media Reaction - Apec

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P 250659Z NOV 08
FM AMEMBASSY TOKYO
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UNCLAS TOKYO 003225

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 - APEC

1. LEAD STORIES: Top stories on Tuesday morning
included a USG announcement on Sunday that it will
inject $20 billion into Citigroup.

2. "Effectiveness of APEC to Be Tested" The business-
oriented Nikkei editorialized (11/25): "...The APEC
leaders' meeting, which focused on measures to address
the financial crisis, adopted a special statement on
the global economy in addition to a joint declaration.
The leaders pledged their comprehensive cooperation to
combat the financial crisis and promised to avoid
protectionism. It is significant that the leaders of 21
economies in the Asia-Pacific region expressed their
strong determination to stabilize the financial system
following the G20 summit held a week earlier.... Each
nation is keenly aware of the danger of any move toward
protectionism.... How to make the APEC agreement
effective is a key issue."

3. "Pledge at WTO Talks Must Be Implemented" The
moderate Yomiuri's editorial argued (11/25): "...It is
worth noting that the APEC special statement read: 'We
are convinced that we can overcome this crisis in a
period of 18 months.' While listing measures similar to
those adopted at the G20 summit, the APEC members
appear to have set a specific timeframe in order to
express their strong determination to overcome the
financial crisis.... It is also important that the
special statement included the promotion of free trade
while warning against protectionism.... Concerning the
WTO Doha Round talks, the members expressed their
commitment to reaching a rough agreement next month....
It is certain that an agreement at the WTO round is an
effective means of preventing protectionism from rising
and the world economy from worsening."

SCHIEFFER

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