This report discusses issues regarding U.S.-Japan economic relations. Japan is a significant partner of the United States in a number of foreign policy areas, particularly in U.S. security priorities, which range from hedging against Chinese military modernization to countering threats from North Korea.

This report discusses the relationship between the United States and Japan, including Japanese efforts to support the U.S. in the wake of the September 11th, 2001 terrorist attacks and the two countries' economic ties, especially with regards to the recent economic downturn. This report also discusses the general political atmosphere of Japan, including the recent and ongoing political turmoil in Tokyo.

Japan's five bank bailout packages in the late 1990s may hold some lessons for the United States. Overcoming the crisis in Japan's banks took a combination of capital injections, new laws and regulations, stronger oversight, a reorganization of the banking sector, moderate economic recovery, and several years of banks working off their non-performing loans.

The National Museum of the Pacific War presents an oral interview with Al Jowdy. Jowdy enlisted in the Navy in July 1942 at the age of 15, with his parents’ consent. His first assignment was pulling bodies out of sunken ships in Pearl Harbor. At Guadalcanal, his ship was torpedoed. Due to the presence of enemy subs, he could not be rescued initially and spent two weeks floating in a raft. Then he joined a rescue effort to aid the USS Wasp (CV-7), only to be torpedoed again, spending another four days in the water. Jowdy was then assigned to the USS Salt Lake City (CA-25), patrolling the Bering Sea and participating in the Battle of the Komandorski Islands as a second loader on a 40-millimeter. After witnessing the Marianas Turkey Shoot and also seeing MacArthur film his famous return, Jowdy participated in the bombardment of Iwo Jima, amidst kamikazes and suicide boats. After the war, he survived a typhoon and served occupation duty in Japan, later transporting troops as part of the demobilization effort before being discharged in January 1946.

The National Museum of the Pacific War presents an oral interview with Al Jowdy. Jowdy enlisted in the Navy in July 1942 at the age of 15, with his parents’ consent. His first assignment was pulling bodies out of sunken ships in Pearl Harbor. At Guadalcanal, his ship was torpedoed. Due to the presence of enemy subs, he could not be rescued initially and spent two weeks floating in a raft. Then he joined a rescue effort to aid the USS Wasp (CV-7), only to be torpedoed again, spending another four days in the water. Jowdy was then assigned to the USS Salt Lake City (CA-25), patrolling the Bering Sea and participating in the Battle of the Komandorski Islands as a second loader on a 40-millimeter. After witnessing the Marianas Turkey Shoot and also seeing MacArthur film his famous return, Jowdy participated in the bombardment of Iwo Jima, amidst kamikazes and suicide boats. After the war, he survived a typhoon and served occupation duty in Japan, later transporting troops as part of the demobilization effort before being discharged in January 1946.

This report addresses the September 1, 2008, resignation of Japanese Prime Minister Yasuo Fukuda and the resulting aftermath. It also addresses the September 22 Liberal Democratic Party (LDP) election of Fukuda's successor and the widely expected winner of said election, ex-Foreign Minister Taro Aso. Japanese policymaking is likely to enter a period of disarray, which could negatively affect several items of interest to the United States. This report analyzes the factors behind and implications of Japan's current political turmoil.

Transcript of an oral interview with Al Heigel. When Heigel finished high school in June, 1944, he joined the Navy at Little Rock, Arkansas and went for boot training at San Diego. He was assigned as a radar operator and reported aboard the USS Independence (CVL-22) at Pearl Harbor. Heigel describes the light carrier and its construction and features. He also speaks of the time the Independence was hit by a torpedo off Tarawa in 1943. Heigel then describes events off Okinawa: watching the USS Franklin (CV-13) being bombed off Okinawa; locating and shooting down kamikazes; describing battle stations; aircraft water landings; being in a typhoon, etc. After the war ended, the Independence served as a troop transport taking GIs back home to the US. He describes bunks in the hangar deck and arriving in Portland, Oregon. As the Independence was being prepared for the Bikini Atoll atomic tests, Heigel got off becuase he had the requisite amount of points allowing him to be discharged. He then entered the lumber business, married and raised family.

Transcript of an oral interview with Al Heigel. When Heigel finished high school in June, 1944, he joined the Navy at Little Rock, Arkansas and went for boot training at San Diego. He was assigned as a radar operator and reported aboard the USS Independence (CVL-22) at Pearl Harbor. Heigel describes the light carrier and its construction and features. He also speaks of the time the Independence was hit by a torpedo off Tarawa in 1943. Heigel then describes events off Okinawa: watching the USS Franklin (CV-13) being bombed off Okinawa; locating and shooting down kamikazes; describing battle stations; aircraft water landings; being in a typhoon, etc. After the war ended, the Independence served as a troop transport taking GIs back home to the US. He describes bunks in the hangar deck and arriving in Portland, Oregon. As the Independence was being prepared for the Bikini Atoll atomic tests, Heigel got off becuase he had the requisite amount of points allowing him to be discharged. He then entered the lumber business, married and raised family.

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Interview with Paul F. Lemmon, a fireman in the US Navy during WWII. He answers questions about his life prior to enlisting and his experience overseas.

Interview with O. H. "Karl" King of Fort Worth, Texas, who is a World War Two veteran of the United States Marine Corps. In the interview, Mr. King recalls memories of his travels, the Japanese attack on Clark Field, the Battle for Bataan, and when he was a Japanese prisoner-of-war. He also talks about other experiences he had while serving in the Marines and his life before and after the war.

Interview with O. H. "Karl" King of Fort Worth, Texas, who is a World War Two veteran of the United States Marine Corps. In the interview, Mr. King recalls memories of his travels, the Japanese attack on Clark Field, the Battle for Bataan, and when he was a Japanese prisoner-of-war. He also talks about other experiences he had while serving in the Marines and his life before and after the war.

Interview with with Norman Apelt, an airplane mechanic during World War II. He discusses his service in the US Army Air Corps as an airplane mechanic in Pampa, Texas. After the war ended, Apelt was assigned duty in occupied Japan.

Interview with Willie Higgs, a U. S. Marine during World War II. He joined the Marines in 1944 and trained at Camp Pendleton before being assigned to the 4th Marine Division. Higgs discusses arriving at Iwo Jima, making a grenade attack on a cave there, and subsequently breaking his leg. He then spent time aboard the hospital ship, USS Solace (AH-5). Upon returning home, Higgs finished his degree at Southwest Texas State in San Marcos, where he majored in music.

Interview with David Straus of San Antonio, Texas, a veteran from the United States Marine Corps during World War Two in the Pacific Theater as well as the Korean War. The interview includes some of Straus' background before the war and his personal experiences while in the Marines, including memories of Okinawa, various weapons, what happened at the end of World War Two, and his assignment in Korea.

Interview with David Straus of San Antonio, Texas, a veteran from the United States Marine Corps during World War Two in the Pacific Theater as well as the Korean War. The interview includes some of Straus' background before the war and his personal experiences while in the Marines, including memories of Okinawa, various weapons, what happened at the end of World War Two, and his assignment in Korea.

Interview with David Braden, a member of the U.S. Air Force during World War II. He discusses his training in the U.S. to become a navigator; his deployment to Saipan with the 870th Squadron, 497th Bomb Group, 73rd Wing; initial attacks on Tokyo in a B-29 bomber at high altitude (during which the jet stream interfered with the bombing raids); a low-altitude fire-bombing mission over Tokyo in March, 1945; living conditions on base at Saipan; a mission in which the B-29 he was on ditched in the ocean and his subsequent rescue; Victory in Europe (V-E) Day on Saipan; completing 35 missions; and going home.

The National Museum of the Pacific War presents an oral interview with David Braden from Dallas, Texas. He discusses his time in the Airforce during WW2. Mr. Braden start with his time training to be a navigator before his first mission in Tokyo, Japan. David Braen describes dropping messages over Japanese cities urging Japanese people to plead for their leaders to surrender and to evacuate before the U.S. burns the cities to the ground. After the Japanese government surrendered and the war was over, Mr. Braden was flown home and kissed the ground as soon as he landed.

The National Museum of the Pacific War presents an oral interview with David Braden from Dallas, Texas. He discusses his time in the Airforce during WW2. Mr. Braden start with his time training to be a navigator before his first mission in Tokyo, Japan. David Braen describes dropping messages over Japanese cities urging Japanese people to plead for their leaders to surrender and to evacuate before the U.S. burns the cities to the ground. After the Japanese government surrendered and the war was over, Mr. Braden was flown home and kissed the ground as soon as he landed.

The National Museum of the Pacific War presents an oral interview with Francis R. Ferry. Ferry grew up in Nebraska and taught for a year before joining the Navy in 1942. He had enrolled in the Civilian Pilot Training Program prior to enlisting. He trained on the N3N, the SNJ, the OS2U, the BT, the SBC3 and other types of aircraft. He was assigned to be a dive-bomber, flying the SB2C Helldiver. Ferry was initially assigned to VB-14 and left aboard the USS Wasp to the coast of Venezuela where he continued training. He was reassigned to VB-82 and left on the USS Bennington (CV-20) for Pearl Harbor. The ship joined Task Force 58.1 for Japan. He flew his first combat mission over Tokyo. He was involved with burning the beaches on Iwo Jima and Okinawa. He then was involved in the attack on the Japanese ship Yamato. His air group was the lead group in on the first strike, and Ferry himself dropped rockets and bombs that may have been hits. His wife Genevieve Ferry briefly discusses what her experiences were on the homefront.

The National Museum of the Pacific War presents an oral interview with R. Bruce Porter. After a few years of college at the University of Southern California, Porter joined the Marines as an aviation cadet. After training on the F4F, Porter was assigned to Squadron 111 and shipped out on the USS Garfield to American Samoa. Porter mentions training with and talking with Joe Foss when his squadron passed through Apia. Porter then went to Turtle Bay, New Caledonia. He next flew F4F's in Guadalcanal in 1943. Their squadron then switched to the Corsair plane. Porter then started moving ""up the slot"" toward Japan gradually moving north with his squadron. Later, Porter returned to the states to train on F6F's and joined a night fighter squadron. He was assigned as a squadron commander in Okinawa. He discusses blowing up a plane with a ""baka"" bomb on it. Porter's record is an ace, with five official kills and one probable. Porter witnessed the surrender party preparing for the official surrender. He stayed in Japan for four months after the occupation.

In a world in which economic and trade performance are fast gaining acceptance as important components of national power and well being, Congress has become increasingly interested in the comparative success of U.S. business in the vast, rapidly growing Asia-Pacific region. For the most part, Congress has tended to view Japan as the main competitor of the United States in Asian markets and the standard against which U.S. success is measured. The stakes for the United States are considerable. Exclusive of Japan, the Asia-Pacific region accounted for $ 92 billion in U.S. exports in 1993 and $ 138 billion in imports, or about 20 percent of total U.S. exports and 24 percent of U.S. global imports. A number of projections indicate that Asia will account for the largest share of world trade growth in the next decade. Japan's growing economic presence has been accompanied by a relative increase in its political influence vis-a-vis that of the United States, a factor of considerable long term significance for U.S. interests, and it would appear the availability of alternative Asian markets has strengthened Japan's resistance to U.S. trade demands.

Japan's current political instability began in July 1993, when the Liberal Democratic Party (LDP) -- in power since 1955 -- was voted out and replaced by a fragile multiparty coalition government under Prime Minister Morihiro Hosokawa. The new government faced turmoil in April 1994, when Hosokawa suddenly resigned amid a personal financial scandal. Then-deputy prime minister/foreign minister Tsutomu Hata succeeded, but only at the head of a minority government after the Socialist party, a key coalition partner, quit the coalition. Although beset by its own internal squabbles, the LDP remained the single largest party in Japan's bicameral Diet, or parliament. In late June, Hata was forced to resign under threat of an LDP-led no confidence motion.

The United States and Japan have been deadlocked for over a year in an effort to reach agreements under the July 1993 Framework for a New Economic Relationship. The overriding obstacle has concerned the issue of how to measure progress under future agreements to open Japan's market further to foreign goods and services.