This report presents an overview of Japan's performance in its trading relations. The report begins with a discussion of the development, size, and importance of Japan's international trading sector. It then examines the composition, institutions, and policies for trade. This is followed by a review of Japan's balance of payments, capital flows, value of the yen, and direction of trade.

Interview with Martin Chambers, a United States Army veteran from Milam, Texas. Chambers discusses his experiences as a prisoner-of-war of the Japanese during World War II and as a member of the 26th Brigade and eventually the 2nd Battalion, 131st Field Artillery, also known as the "Lost Battalion."

Interview with Marvin Robinson, a veteran of the United States Marines from Handley, Texas. Robinson discusses his experiences as a prisoner-of-war of the Japanese during World War II after his cruiser, the USS Houston, was sunk off the coast of Java in the Sunda Strait in 1942.

Photograph used for a newspaper owned by the Oklahoma Publishing Company.

Photograph used for a story in the Oklahoma Times newspaper. Caption: "Rich Loebl examines hanks of pearls."

This report discusses trade relations between the U.S. and Japan. Commercial aspects of the United States-Japan alliance, in recent years, have begun to dominate the dialogue between the two nations. In particular, friction points have developed over chronic U.S. bilateral trade deficits with Japan, allegations of Japanese protectionism, and rapid incursions into U.S. markets by Japanese export products.