Footnotes

Chapter 2 - Australia and Japan—Natural Partners

[1]           For example see: ABARE, submission no. 21, p. 6; DFAT, submission no. 32, pp. 5–7.

[2]           See chapter 5, para 5.17.

[3]           Gareth Evans, ‘Australia and Japan: Old Friends, New Challenges, Speech to the 19^th Australia-Japan Relations Symposium, 24 February 1995.

[4]           For example see: Speech of Prime Minister Hashimoto at the dinner hosted by Prime Minister Howard and Mrs Howard, ‘Australia and Japan in the Asia Pacific Region’, 28 April 1997; Speech of Japanese Ambassador, Yukio Satoh at the Foreign Correspondents’ Association in Sydney, ‘Japan-Australia Relations’: Emerging Partnership, 1 November 1996.

[5]           ‘Partnership Agenda between Australia and Japan’, Ministry of Foreign Affairs, Japan, http://www.mofa.go.jp/region/asia-paci/australia/agenda.html (5 November 1999).

[6]           Partnership Agenda between Australia and Japan, The Ministry of Foreign Affairs of Japan, http://www.mofa.go.jp/region/asia-paci/australia/agenda.html (5 November 1999).

[7]           Leon Wolff, Committee Hansard, 28 May 1999, p. 650.

[8]           Manuel Panagiotopoulos, Committee Hansard, 14 April 1999, p. 219.

[9]           Mr Bradley Treadwell, Managing Director, Osborne Associates, submission no. 8, p. 3.

[10]         Yukio Satoh, Ambassador of Japan to Australia, SDSC Working Papers, Working Paper No. 312, ‘From Distant Countries to Partners: the Japan-Australian Relationship, Strategic and Defence Studies Centre, ANU, Canberra, November 1997, p. 1. This paper represents the personal views of the author.

[11]         Bradley Treadwell, Managing Director Osborne Associates, Committee Hansard, 19 February 1999, p. 62.

[12]         Bradley Treadwell, Managing Director Osborne Associates, Committee Hansard, 19 February 1999, p. 62.

[13]         Bradley Treadwell, Managing Director Osborne Associates, Committee Hansard, 19 February 1999, pp. 71–72.

Chapter 3 - Japan—On the threshold of a new millennium

[1]           Taichi Sakaiya, ‘Japan is Changing’, Japan Echo, vol. 25, no. 6, December 1998, p. 34.

[2]           See Isao Nakauchi, ‘Corporate Efforts to Promote Deregulation’, Text of Speech given by Mr Isao Nakauchi, Vice Chairman of Keidanren, at the Foreign Correspondents’ Club of Japan, 19 September 1994. Dr Aurelia George Mulgan, submission no. 20, p. 10.

[3]           Nukazawa Kazuo, ‘The Japanese Economy: From World War II to the New Century, Japan Echo, vol. 25, no. 2, April 1998.

[4]           Hugh Patrick, ‘The Causes of Japan’s Financial Crisis’, Pacific Economic Paper, no. 288, Australia-Japan Research Centre, February 1999, p. 1.7.

[5]           Taichi Sakaiya, Minister of State Economic Planning Agency, ‘The Present and Future of the Japanese Economy’, Speech at Yale University, May 2000, http://www,epa.jp/2000/b/0505b-daijinkouen-e.html (5 July 2000).

[6]           DFAT, submission no. 32, pp. 7–8.

[7]           IMF, World Economic Outlook, Chapter IV, ‘Japan’s Economic Crisis and Policy Options’, IMF, 1998, p. 108.

[8]           IMF, World Economic Outlook, Chapter IV, ‘Japan’s Economic Crisis and Policy Options’, IMF, 1998; pp. 108–9; Hugh Patrick, ‘The Causes of Japan’s Financial Crises’, Pacific Economic Paper no. 288, Japan’s Financial Reform, Australia-Japan Research Centre, February, 1999, p. 1.11.

[9]           Thomas Cargill, Michael Hutchison and Takatoshi Ito, ‘Japanese Deregulation: What you should know, Japan Information Access Project, http://www.nmjc.org/jiap/deregulate/papers/deregcon/hutchison.html (1 March 1999).

[10]         IMF, World Economic Outlook, Chapter IV, ‘Japan’s Economic Crisis and Policy Options’, IMF, 1998, p. 109.

[11]         See Mr Charles Wensley, Hamersley Iron Pty Ltd, Committee Hansard, 24 February 1999, p. 96.

[12]         Thomas Cargill, Michael Hutchison and Takatoshi Ito, ‘Japanese Deregulation: What you should know’, Japan Information Access Project.

[13]         Hugh Patrick; ‘The Causes of Japan’s Financial Crisis, Pacific economic Papers no. 288¸ February 1999, p. 1.13; Ogata Shijuro, ‘Three Proposals for Japan’s Troubled Central Bank’, Japan Echo, June 1998, p. 27; Adam S. Posen, Restoring Japan’s Economic Growth, Institute for International Economics, Washington, 1998.

[14]         IMF, World Economic Outlook, October 1998, Chapter IV ‘Japan’s Economic Crisis and Policy Options’, IMF, 1998, p. 110.

[15]         IMF, World Economic Outlook, October 1998, Chapter IV ‘Japan’s Economic Crisis and Policy Options’, IMF, 1998, p. 110.

[16]         IMF, World Economic Outlook, October 1998, Chapter IV ‘Japan’s Economic Crisis and Policy Options’, IMF, 1998, p. 110.

[17]         IMF, World Economic Outlook, October 1998, Chapter IV ‘Japan’s Economic Crisis and Policy Options’, IMF 1998, p. 111.

[18]         Masaru Hayami, Governor of the Bank of Japan, Speech to the Yomiuri International Economic Society in Tokyo, 29 July 1998.

[19]         Richard C. Koo, ‘Is Japan Misunderstood’, Remarks of Richard C. Koo, Chief Economist, Nomura Research Institute at the Economic Strategy Institute, 13 July 1998.

[20]         Speech by Minister Taichi Sakaiya, Sorbonne University, Paris, 7 January 1999, http://www.epa.go.jp/99/b/19990107b-daijinkouen-e.html (24 April 1999).

[21]         Economic Survey of Japan (1993–1994), ‘A Challenge to New Frontiers Beyond the Severe Adjustment Process’, Economic Planning Agency, Government of Japan, 26 July 1994.

[22]         An Outline of Emergency Measures for Yen Appreciation and the Economy, http://www.epa.go.jp/taisaku/taisaku-eng-summary.html (19 May 1999).

[23]         APEC, Deregulation Report 1997, Japan, http://www.apecsec.org.sg/deregulation/Japan.html (18 October 1999); Summary of the 1996 Annual Report of Management and Coordination Agency, 1996.

[24]         Economic Survey of Japan, 1993–1994, ‘A Challenge to New Frontiers Beyond the Severe Adjustment Process’, Summary, 26 July 1994, Economic Planning Agency, The Government of Japan.

[25]         Fujiwara Sakuya, ‘Japan’s Financial Woes and the Hopes for Big Bang’, in Japan Echo, February 1998, p. 7.

[26]         Peter Hartcher, ‘Can Japan Come Back?’ in the National Interest, Winter 1998/99, pp. 32–9 in Peter Hartcher, submission no. 36, p. 36.

[27]         Ms Tessa Morris-Suzuki, submission no. 3, p. 2; Takatoshi Ito, ‘Japan’s Financial Crisis: Resemblances with East Asia’, Pacific Economic Papers no. 288, vol I, Australia-Japan Research Centre, February 1999, p. 2.15; The Economist Intelligence Unit Ltd, EIU Report, 1^st Quarter 1996, pp. 19–20; Professor Noriyasu Watanabe, ‘Occupational Pension Systems in Japan’, Japan Labor Bulletin, vol. 37, no. 8, August 1998.

[28]         See Peter Hartcher, Committee Hansard, 15 April 1999, pp. 325–6; Noguchi Yukio, ‘The Persistence of the 1940 Setup’, Japan Echo, vol. 24, Special Issue, 1997.

[29]         Noguchi Yukio, ‘The Persistence of the 1940 Setup’, Japan Echo, vol. 24, Special Issue, 1997.

[30]         Speech by Minister Taichi Sakaiya, Sorbonne University, Paris, 7 January 1999. See also Ms Tessa Morris-Suzuki, submission no. 3, p. 2.

[31]         Economic Survey of Japan, 1993–1994, A Challenge to New Frontiers Beyond the Severe Adjustment Process, Summary, 26 July 1994, Economic Planning Agency. See also Dr Aurelia George Mulgan, submission no. 20.

[32]         Policy Speech by Prime Minister Tomiichi Murayama to the 130^th Session of the Diet, 18 July 1994, http://www.kantei.go.jp/foreign/130.html.

[33]         Ryutaro Hashimoto, Minister of International Trade and Industry, ‘Challenges for the World Economy in a Transitional Period and Development in the Asia-Pacific Region’, Vancouver, 2 May 1995, http://www.jef.or.jp/news/challenge.html (19 October 1998). WTO Trade Policy Review of Japan (1998), 20 November 1998; JETRO, The Changing Service Industries of Japan, Tokyo, 2000, p. iii.

[34]         An Outline of Emergency Measures for Yen Appreciation and the Economy, http://www.epa.go.jp/taisaku/taisaku-eng-summary.html (19 May 1999).

[35]         Economic Measures: toward steady economic recovery’ (provisional translation), Ministerial Conference for Economic Measures, Government of Japan, 20 September 1995, http://www.epa.go.jp/taisaku/measures95_9 (30 March 1999).

[36]         Economic Measures: toward steady economic recovery’ (provisional translation), Ministerial Conference for Economic Measures, Government of Japan, 20 September 1995, http://www.epa.go.jp/taisaku/measures95_9 (30 March 1999).

[37]         MITI, ‘Economic Measures: (toward steady economic recovery)’, Government of Japan, 20 September 1995.

[38]         MITI, ‘Economic Measures: (toward steady economic recovery)’, Government of Japan, 20 September 1995; Emergency Measures for Yen Appreciation and the Economy, 14 April 1995, Ministerial Conference on Economic Measures.

[39]         Ryutaro Hashimoto, ‘Challenges for the World Economy in Transitional Period and Development in the Asia-Pacific Region’, Vancouver, 2 May 1995.

[40]         Ryutaro Hashimoto, ‘Challenges for the World Economy in Transitional Period and Development in the Asia-Pacific Region’, Vancouver, 2 May 1995.

[41]         Ryutaro Hashimoto, ‘Challenges for the World Economy in Transitional Period and Development in the Asia-Pacific Region’, Vancouver, 2 May 1995.

[42]         Economic Measures toward steady economic recovery, 20 September 1995, Ministerial Conference for Economic Measures, Government of Japan.

[43]         Emergency Measures for Yen Appreciation and the Economy, Ministerial (Provisional Translation) Ministerial Conference on Economic Measures, 14 April 1995.

[44]         Address of Shoichiro Toyoda, Chairman of Keidanren, before the 57^th Keidanren General Assembly, 26 May 1995.

[45]         ‘Economic Measures: toward steady economic recovery’, Ministerial Conference for Economic Measures, Government of Japan, 20 September 1995.

[46]         Address of Shoichiro Toyoda, Chairman of Keidanren, before the 57^th Keidanren General Assembly, 26 May 1995. For information on Keidanren, see Hidetaka Yoshimatsu, ‘Japan’s Keidanren and Political Influence on Market Liberalization’, Asian Survey, vol. XXXVIII, no. 3, March 1998. He describes Keidanren as ‘the principal power center of business’.

[47]         Reforms and the Creation of a New Era Society—the six reform packages of the Hashimoto Administration, The Ministry of Foreign Affairs.

[48]         APEC, Deregulation Report 1997: Japan, http://.apecsec.org.sg/deregulation/jap.html (20 October 1999).

[49]         See for example Shinji Sato, English translation of Minister Sato’s Speech at the Foreign correspondents’ Club of Japan, 16 June 1997, http://www.miti.go.jp/press-e/f300001e.html (10 November 1999).

[50]         Peter Hartcher, Committee Hansard, 15 April 1999, p. 325. See also, The Department of the Treasury, submission no. 63, p. 4; The Economist Intelligence Unit’s Country Analysis, Japan, 2000, p. 23.

[51]         Peter Hartcher, Committee Hansard, 15 April 1999, p. 325.

[52]         BT Funds Management, ‘Cherry Picking in Japan’, 1999.

[53]         Kosai Yutaka, ‘Economic Reform’, in Journal of Japanese Trade Industry, No. 3, 1998, p. 10.

[54]         Ian McLean, Australia Japan Housing Ltd, Committee Hansard, 15 April 1999, p. 365.

[55]         Michael E. Porter and Hirotaka Takeuchi, ‘Fixing What Really Ails Japan, Foreign Affairs, vol. 78, no. 3, May/June 1999, p. 78.

[56]         Stuart M. Chemtob, Special Counsel for International Antitrust Division, US Department of Justice, Keynote Address ‘The Frustration and Promise of Japanese Deregulation’, 4 April 1997, in Japan Information Access Project.

[57]         Press Conference by Prime Minister Ryutaro Hashimoto following the passage of the FY1997 Budget, 31 March 1997.

[58]         News from MITI, ‘Structural Reform of the Japanese Economy’, November 1997, http://www.jef.or.jp/news/97nov.html (19 October 1998).

[59]         The Action Plan for Economic Structure Reform, May 1997; News from MITI, November 1997.

[60]         For example see Takafusa Shioya, ‘Japanese Economic Issues’, Mr Takafusa Shioya, Director-General of the Coordination Bureau, Economic Planning Agency, 24 November 1997. Ministry of Foreign Affairs. See also General Affairs Division, Industrial Policy Bureau, Ministry of International Trade and Industry, ‘An Outline of Economic Structure Reform’, Journal of Japanese Trade & Industry, no. 3, 1998.

[61]         General Affairs Division, Industrial Policy Bureau, Ministry of International Trade and Industry, ‘An Outline of Economic Structure Reform’, Journal of Japanese Trade & Industry, no. 3, 1998.

[62]         Edward J. Lincoln, ‘Evaluating Japan’s “Big Bang” Financial Deregulation’, Prepared for the Trilateral Forum on US-Japan-China Cooperation in the Asia Pacific Region, Berkeley, 11–12 November 1997.

[63]         See Edward J. Lincoln, ‘Evaluating Japan’s “Big Bang” Financial Deregulation’, Prepared for the Trilateral Forum on US-Japan-China Cooperation in the Asia Pacific Region, Berkeley, 11–12 November 1997.

[64]         Structural Reform of the Japanese Financial Market—Toward the Revival of the Tokyo Market by the Year 2001, http://www.mof.go.jp/english/big-bang/ebb6.htm (26 April 2000).

[65]         See Professor Tessa Morris-Suzuki, submission no. 3; p. 13; Bradley Treadwell, Osborne Associates, submission no. 8, p. 3.

[66]         Noguchi Yukio, ‘The Persistence of the 1940 Setup’, Japan Echo, vol 24, Special issue, 1997; Taichi Sakaiya, Minister of State, Economic Planning Agency, Government of Japan, ‘The Present and Future of the Japanese Economy’, Speech at Yale University, Connecticut, May 2000, http://www.epa.go.jp/2000/b/0505b-daijinkouen-e.html (5 July 2000).

[67]         About the financial system reform, (The Japanese version of the Big Bang), http://www.mof.go.jp/english/big-bang/ebb1.htm. See also Professor Tessa Morris-Suzuki, submission no. 3.

[68]         Directions issued by Prime Minister Hashimoto, 11 November 1996 and Financial System Reform—Toward the early achievement of Reform, 13 June 1997, http://www.mof.go.jp/english/big-bang/ebb32.htm. See also Queensland Government, submission no. 18, p. 7; NSW Government, submission no. 25, p. 8.

[69]         Japan Echo, vol. 24, no. 3, August 1997; Administrative Reform Program, (Outline), Cabinet decision, 25 December 1996.

[70]         Japan Echo, vol. 24, no. 3, August 1997.

[71]         Takatoshi Ito, ‘Japan’s Financial Crisis: Resemblances with East Asia’, Pacific Economic Papers no. 288, Japan’s Financial Reform, Australia-Japan Research Centre, February 1999, p. 2.8. See also Gavan McCormack, ‘Is Japan Facing Financial Armageddon?’, New Asia Pacific Review, vol. 3, no. 2, 1997, pp. 11–12; Professor Hiroya Ichikawa, ‘A Road for the Economic Recovery of Japan: a Search for a New Paradigm’, Japan Reports, Consulate-General of Japan, Sydney, May 1999.

[72]         See for example Economic Outlook and Basic Stance on Economic Management for FY 1997, approved by the cabinet on December 19, 1996.

[73]         Ministry of Finance, ‘Financial System Reform’, 13 June 1997, http://www.mofa.go.jp/english/big-babg/ebb32.htm (6 April 1999).

[74]         Ministry of Finance, ‘Financial System Reform’, 13 June 1997, http://www.mof.go.jp/english/big-babg/ebb32.htm (6 April 1999).

[75]         Professor Craig Freedman, Committee Hansard, 15 April 1999, p. 342.

[76]         MITI, ‘The Economic Stimulus Package of Japan’, 15 April 1998.

[77]         Economic Outlook and Basic Stance on Economic Management for FY 1997, approved by the cabinet on December 19, 1996, http://www1.meshnet.or.jp/aep_home/English/outlook97.html (2 June 1999).

[78]         Queensland Government, submission no. 18, p. 7.

[79]         WTO Trade Policy Review of Japan, (1998), 20 November 1998.

[80]         Yasuo Kanzaki, ‘Deregulation in Japan: Big Bang or Big whimper?’, a talk delivered 7 March 1997: Katsuhiko Eguchi, Executive Vice President, PHP Research Institute Inc; Harano Joji, ‘The Hashimoto Reform Program’, Japan Echo, June 1997. See also, Nomura Research Institute, Quarterly Economic Report, vol. 27, no. 2, May 1997, p. 1.

[81]         Policy Speech by Prime Minister Ryutaro Hashimoto opening the 140^th session of the Diet, 20 January 1997.

[82]         Press Conference by Prime Minister Ryutaro Hashimoto following the Passage of the FY 1997 Budget, 31 March 1997.

[83]         Press Conference by Prime Minister Ryutaro Hashimoto following the passage of the FY1997 budget, 31 March 1997.

[84]         Press Conference by Prime Minister Ryutaro Hashimoto following the passage of the FY1997 budget, 31 March 1997.

[85]         Press conference by Prime Minister Ryutaro Hashimoto on the Final Report of the Conference on Fiscal Structural Reform, 3 June 1997; Cabinet decision, 3 June 1997, http://www.kantei.go.jp/foreign/0624reform.html (27 May 1999).

[86]         Economic Outlook and Basic Stance on Economic Management for FY 1997, approved by the cabinet on December 19, 1996.

[87]         Australian Bureau of Agricultural and Resources Economics (ABARE), submission no. 21, p. 7. See also Nomura Research Institute, Quarterly Economic Review, vol 27, no. 3, August 1997, p. 1.

[88]         Statement by the Minister of Finance, 3 November 1997; Statement by Minister of Finance, tentative translation, 17 November 1997; Statement by the Government Concerning the Yamaichi Securities Co, 2 June 1999, Bank of Japan; http://www.boj.or.jp/en/press/danwa003.htm (24 January 2000); Statement by Minister of Finance on the Tokuyo City Bank, tentative translation, 26 November 1997. See also Taichi Sakaiya, Minister of State, Economic Planning Agency, Government of Japan, ‘The Present and Future of the Japanese Economy’, Speech at Yale University, Connecticut, May 2000, http://www.epa.go.jp/2000/b/0505-daijinkouen-e.html (5 July 2000). The term ‘transferee bank’ is taken from the official statement issued by the Minister of Finance.

[89]         Dr Tasuo Takao, submission no. 28, p. 6.

[90]         Joint Statement by the Minister of Finance and the Governor of the Bank of Japan, tentative translation, 26 November 1997, http://www.mof.go.jp/english/daijin/ele012.htm (30 March 1999).

[91]         Address by the Prime Minister Ryutaro Hashimoto on Measures to Stabilise the Financial System and Economic Management to the 142nd session of the National Diet.

[92]         Financial System Reform—Toward the early achievement of Reform, 13 June 1997, http://www.mof.go.jp/english/big-bang/ebb32.htm.

[93]         Curtis J. Milhaupt, ‘Japan’s Experience with Deposit Insurance and Failing Banks: Implications for Financial Regulatory Design?’, Institute for Monetary and Economic Studies, Bank of Japan, IMES Discussion Paper Series 99-E-8, March 1999, pp. 23–4. The prompt corrective action regime came into effect in April 1998. The Financial Supervisory Agency (FSA), an independent agency which reports directly to the Prime Minister, took over the job of monitoring and supervising the country’s banks from MoF’s bank bureau at the end of June 1998. See also Robin Radin, ‘The Evolution of Japan’s Economic and Regulatory System: A Brief History’, The National Investment Company Service Association, http://www.us-japan.org/JapanBoston/radin.htm (19 October 1999); Thomas F. Cargill, ‘Briefing Paper’, 15 December 1997, http://www.nmjc.org/JIAP/events/papers/carhdout.html (19 October 1999).

[94]         Address by the Prime Minister Ryutaro Hashimoto on Measures to Stabilise the Financial System and Economic Management to the 142nd session of the National Diet.

[95]         See Paul Blustein, Washington Post, 4 April 1998, p. AO1. Also Mr Jiro Ushio stressed that one of the most pressing issues was the need to deal with the bad debt that ‘has hobbled financial revitalization’, Jiro Ushio, Chairman’s Address for the 1998 Annual Meeting, Keizai Doyukai, 22 April 1998; see evidence by Professor David Allen, Committee Hansard, 25 February 1999, p. 188.

[96]         Interview with Kenneth S. Courtis, ‘Japan’s Big Bang and the Asia Meltdown’, NIRA Review, Spring, 1998). See also Brian Robins, ‘Japan Shock Absorbers Lose Their Resilence’, Business Review Weekly, 19 October 1998; Shigemitsu Sugisaki, ‘The Outlook for Japan and its Global Implications’, Address by Shigemitsu Sugisaki, Deputy Managing Director of the International Monetary Fund, the Kobe University/IMF Symposium, Kobe, Japan, 14 July 1998; David D. Hale, Global Chief Economist, Zurich Insurance Group, ‘The Financial Crises in Japan and Asia: a Financial Insider’s View’, JEI Report, no. 36A, 25 September 1998, p. 3.

[97]         IMF, World Economic Outlook, October 1998, Chapter IV; Japan’s Economic Crisis and Policy Options’, IMF, 1998, p. 120. See also Tadashi Nakamae, ‘Japan’s Impending Financial Crisis will Expedite the Necessary Shift of Resources from the Old to the New Economy’, Presentation for the OECD Business and Industry Policy Forum on Realising the Potential of the Service Economy: Facilitating Growth, Innovation and Competition, Paris, 28 September 1999. Joe Peek and Eric S. Rosengren, ‘Determinants of the Japan Premium: Actions Speak Louder than Words’, p. 13.

[98]         For example Mr Jiro Ushio, chairman of Keizai Doyukai noted, ‘The most important issue currently confronting executives and the companies we run is the redemption of public trust’. Jiro Ushio, Chairman’s Address for the 1998 Annual Meeting, Keizai Doyukai, 22 April 1998.

[99]         Nomura Research Institute, Quarterly Economic Review, vol. 27, no. 4, November 1997, p. 1.

[100]       IMF World Economic Outlook, October 1998, Chapter IV ‘Japan’s Economic Crisis and Policy Options’, IMF, 1998, p. 116.

[101]       Richard C. Koo, ‘Is Japan misunderstood?’, Nomura Research Institute at the Economic Strategy Institute, 13 July 1998.

[102]       Richard C. Koo, ‘Is Japan misunderstood?’, Nomura Research Institute at the Economic Strategy Institute, 13 July 1998.

[103]       ABARE, submission no. 21, p. 2; NSW Government, submission no. 25, p. 5.

[104]       Douglas Ostrom, ‘Limping Toward the Millennium: Japan’s Economy in the Late 1990s’, JEI Report, no. 14A, 10 April 1998, p. 6.

[105]       See New South Wales Government, submission 25, p. 5; and also Summary of Comprehensive Economic Measures, Economic Planning Agency, 24 April 1998; and Koji Omi, Speech, The Royal Institute of International Affairs, Chatham House, 29 April 1998, London, http://www.epa.go.jp/98/b/19980429b-daijin-e.html (7 June 1999).

[106]       The Economic Intelligence Unit Ltd, EIU Country Report, 2nd Quarter, 1998, p. 19.

[107]       MITI, ‘The Economic Stimulus Package of Japan’, 15 April 1998. See also Queensland Government, submission no. 18, p. 6.

[108]       Speech by Minister Koji Omi at the Royal Institute of International Affairs, London, 29 April 1998, http://www.epa.go.jp/98/b/19980429b-daijin-e.html (7 June 1999).

[109]       Summary of Comprehensive Economic Measures, Economic Planning Agency, 24 April 1998.

[110]       Statement by Prime Minister Hashimoto at the Press Conference on the Occasion of the Approval of the FY 1998 Budget, 9 April 1998, http://www.kantei.go.jp/foreign/980424fypress.html (10 October 1999); MITI, ‘The Economic Stimulus Package of Japan, 15 April 1998.

[111]       Koji Omi, Speech, The Royal Institute of International Affairs, Chatham House, 29 April 1998, London, http://www.epa.go.jp/98/b/19980429b-daijin-e.html.

[112]       MITI, ‘The Economic Stimulus Package of Japan’, 15 April 1998.

[113]       Statement by Prime Minister Hashimoto at the Press Conference on the Occasion of the Approval of the FY 1998 Budget, 9 April 1998, http://www.kantei.go.jp/foreign/980424fypress.html (10 October 1999).

[114]       Speech by Minister Koji Omi at the Royal Institute of International Affairs, London, 29 April 1998, http://www.epa.go.jp/98/b/19980429b-daijin-e.html (7 June 1999) and MITI, ‘The Economic Stimulus Package of Japan, 15 April 1998.

[115]       MITI, ‘The Economic Stimulus Package of Japan’, 15 April 1998.

[116]       Koji Omi, Speech, The Royal Institute of International Affairs, Chatham House, 29 April 1998, London, http://www.epa.go.jp/98/b/19980429b-daijin-e.html (7 June 1999).

[117]       The Economic Intelligence Unit Ltd, EIU Country Report, 2nd Quarter, 1998, p. 20.

[118]       Koji Omi, Speech, The Royal Institute of International Affairs, Chatham House, 29 April 1998, London, http://www.epa.go.jp/98/b/19980429b-daijin-e.html (7 June 1999).

[119]       The Minister of Finance, statement on bills concerning financial system reform, 5 June 1998.

[120]       ‘The Challenge of Structural Reform and Pursuing Dynamism in Society and Economy’, Joint Report by the Social and Economic Outlook Committee and the Economic Entity Role Committee, June 1998, http://www.epa.go.jp/98/e/19980622e-keishingoudou-all-e.html.

[121]       Paul Blustein, Washington Post, 4 April 1998, p. AO1.

[122]       Jiro Ushio, Chairman’s Address for the 1998 Annual Meeting, Keizai Doyukai, 22 April 1998.

[123]       Transcript of Press Conference by Prime Minister Ryutaro Hashimoto at the closing of the 142nd Session of the Diet, 18 June 1998, http://www.kantei.go.jp/foreign/980709press142.html (19 October 1999).

[124]       Statement by the Minister of Finance, tentative translation, 19 June 1998.

[125]       Statement by Japanese Prime Minister Hashimoto, 13 July 1998 in Reference Documents as compiled in the Foreign Policy Bulletin, 2 July 1998 to 19 August 1998; Policy Speech by Prime Minister Keizo Obuchi to the 143^rd Session of the Diet, http://www.infojapan.org/announce/announce/1998/8/807-0.html (2 June 1999).

[126]       Policy Speech by Prime Minister Keizo Obuchi to the 143rd Session of the Diet, 7 August 1998 http://www.infojapan.org/announce/1998/8/807-0.html (2 June 1999).

[127]       Speech by Minister Taichi Sakaiya, Sorbonne University, Paris, 7 January 1999.

[128]       Taichi Sakaiya, Minister of State, Director-General, Economic Planning Agency, Government of Japan, ‘The Present and Future of the Japanese Economy’, Singapore, 1 September 1999, http://www.epa.go.jp/99/b19990903b-daijinkouen-e.html (1 October 1999); Policy Speech by Prime Minister Keizo Obuchi to the 143rd Session of the Diet, 7 August 1998, http://www.infojapan.org/announce/1998/8/807-0.html (2 June 1999); Curtis J. Milhaupt, ‘Japan’s Experience with Deposit Insurance and Failing Banks: Implications for Financial Regulatory Design?’, Institute for Monetary and Economic Studies, Bank of Japan, IMES Discussion Paper Series 99-E-8, March 1999, pp. 23–4.

[129]       Comprehensive Plan for Financial Revitalization (1st Version), 23 June 1998, Government-Ruling Party Conference to Promote the Comprehensive Plan for Financial Revitalization, http://202.32.34.2/foreign/980707fina-rev1.html (19 October 1999); Policy Speech by Prime Minister Keizo Obuchi to the 143rd Session of the Diet, 7 August 1998, http://www.infojapan.org/announce/1998/8/807-0.html (2 June 1999).

[130]       Comprehensive Plan for Financial Revitalization (Second Report), 2 July 1998, http://www.kantei.go.jp/foreign/980707fina-rev2.html (19 October 1999).

[131]       The Economic Strategy Council of Japan, ‘Recommendations for Short-Term Policies’, 14 October 1998, http://www.kantei.go.jp/foreign/981016recommend.html (11 March 1999).

[132]       See Grant’s Online, ‘Japan to pass ¥60 trillion bank bailout legislation tonight’, 15 October 1999, http://www.grantspub.com/dispatch/0003.html (15 October 1999).

[133]       Curtis J. Milhaupt, ‘Japan’s Experience with Deposit Insurance and Failing Banks: Implications for Financial Regulatory Design?’, Institute for Monetary and Economic Studies, Bank of Japan, IMES Discussion Paper Series 99-E-8, March 1999, p. 25.

[134]       Monthly Economic Review, the Suzuki Journal, November 1998.

[135]       OECD, OECD Economic Outlook, no. 64, December 1998, http://www.OECD.org//eco/out/eo64.htm (20 May 1999).

[136]       Taichi Sakaiya, ‘The Present and Future of the Japanese Economy’, Singapore, 1 September 1999, http://www.epa.go.jp/99/b/19990903b-daijinkouen-e.html (1 October 1999).

[137]       Curtis J. Milhaupt, ‘Japan’s Experience with Deposit Insurance and Failing Banks: Implications for Financial Regulatory Design?’, Institute for Monetary and Economic Studies, Bank of Japan, IMES Discussion Paper Series 99-E-8, March 1999, p. 26.

[138]       See Peter Landers, ‘Moment of Truth’, Far Eastern Economic Review, 18 February 1999, http://203.105.48.72/9902_18/p48finance.html (18 November 1999).

[139]       Sakaiya Taichi, ‘Japan is Changing’, Japan Echo, vol. 25, no. 6, December 1998, pp. 35–6.

[140]       Sakaiya Taichi, ‘Japan is Changing’, Japan Echo, vol. 25, no. 6, December 1998, p. 36.

[141]       IMF, World Economic Outlook, October 1998, Chapter IV, ‘Japan’s Economic Crisis and Policy Options’, IMF, 1998, p. 117.

[142]       Ministry of Finance, Gist of the Emergency Economic Measures, http://www.mof.jp/english/eem/eco001.htm (25 May 1999) (page 2 of 3)

[143]       Outline of Emergency Economic Package, provisional translation by EPA, 1998; ‘Gist of the Emergency Economic Measures’, Ministry of Finance.

[144]       For example Keidanren stepped up its public campaign for reform insisting that structural reform of the economy and society was essential, and ridding the nation of the barriers of regulation particularly important. Keidanren, ‘For the promotion of deregulation aimed at economic revival and the establishment of a transparent system of governmental management’, Basic Thinking, 20 October 1998.

[145]       Kaoru Yosano, ‘Japan’s Challenge Toward the 21^st Century’, Speech at the Foreign Correspondents’ Club of Japan, 18 December 1998.

[146]       Speech by Minister Taichi Sakaiya, Sorbonne University, Paris, 7 January 1999.

[147]       The Japan Research Institute, Ltd, Economics Department, ‘Prospects for the Japanese Economy, January 1999. See also The Economic Strategy Council, ‘Strategies for Reviving the Japanese Economy’ (Interim Report).

[148]       See statement by Michel Camdessus, Managing Director of the International Monetary Fund, Asia-Europe Finance Ministers Meeting, Frankfurt, Germany, 16 January 1999. Many other commentators reinforce this view that Japan must give top priority to cleaning up the bank mess. See Richard Katz, ‘Economic Anorexia: Japan’s Real Demand Problem’, Challenge, March–April 1999, p. 92.

[149]       OECD, OECD Economic Outlook, No. 64, December 1998, http://www.OECD.org/eco/out/ec64.htm (16 March 1999).

[150]       Steady Approach for Economic Recovery, June 1999, http://www.mof.go.jp/english/economic1.htm (18 August 1999).

[151]       Steady Approach for Economic Recovery, June 1999, http://www.mof.go.jp/english/economic1.htm (18 August 1999).

[152]       ibid.

[153]       Akio Makabe, Dai-ichi Kangyo Research Institute, DKR Economic Report, vol. 2, no. 7, 15 July 1999.

[154]       Mitsubishi Research Institute, Outlook for the Japanese Economy in 1999 and 2000, June 1999, http://www.mri.co.jp/news/press/99_0701_1e.html (26 August 1999).

[155]       The Bank of Japan, Monthly Report of Recent Economic and Financial Developments, July 1999.

[156]       Akio Makabe, Dai-ichi Kangyo Research Institute, DKR Economic Report, vol. 2, no. 7, 15 July 1999.

[157]       Taichi Sakaiya, ‘The Present and Future of the Japanese Economy’, Singapore, 1 September 1999.

[158]       Akio Makabe, General Manager, Financial Market Research Department, Dai-Ichi Kangyo Research Institute, Tokyo Report: ‘Will the Sun Rise in the Land of the Rising Yen? In Economic Report, vol. 2, no. 9, 15 September 1999, p. 2.

[159]       Chairman Imai’s Press Conference, 4 October 1999, http://www.keidanren.or.jp/english/speech/press/1999/1004.html (20 October 1999).

[160]       Economic Planning Agency of Japan, Monthly Economic Report (October 1999), http://www.epa.go.jp/geturei/1999oct.html (20 October 1999).

[161]       Policy speech by Prime Minister Keizo Obuchi to the 146^th Session of the Diet, 29 October 1999, http://www.kantei.go.jp/foreign/souri/991029policy.html (15 November 1999); Economic Planning Agency, ‘Principles of the Policy Measures for Economic Rebirth’, explanatory statement by Minister Taichi Sakaiya, provisional translation, 11 November 1999, http://www.epa.go/jp/99/b/19991111b-taisaku-el.html (15 November 1999); ‘Outline of the Policy Measures for Economic Rebirth’ (summary), 11 November 1999, http://www.epa.go.jp/99/b/19991111b-taisaku-e2.html (15 November 1999).

[162]       Australian Financial Review, 12 November, 1999.

[163]       The Economist Intelligence Unit, Country Report, Japan, 1^st quarter 2000, p. 3.

[164]       NRI Quarterly Economic Outlook, 17 March 2000, p. 25; DKR Economic Report, vol. 3, no. 5, 15 May 2000; Monthly Report of Recent Economic and Financial Developments, (May 2000) http://www.boj.or.jp/en/siryo/siryo/gp0005.htm (9 June 2000). The EIU put gross national debt at well over 100% and stated that Japan now has the worst public figures in the industrialised world; The Economist Intelligence Unit, Country Report, Japan, 1^st quarter 2000, p. 20.

[165]       OECD Economic Outlook no. 66, preliminary version, November 1999, http://OECD.org/eco/out/Eo.html (19 November 1999).

[166]       See Kaoru Yosano, ‘Japan’s Challenge Toward the 21^st Century’, Speech at the Foreign Correspondents’ Club of Japan, 18 December 1998.

[167]       See Policy Speech by Prime Minister Yoshiro Mori to the 147^th Session of the Diet, 7 April 2000, http://www.kantei.go.jp/foreign/souri/mori/2000/0407policy.html (9 June 2000); Taichi Sakaiya, Minister of State Economic Planning Agency, ‘The Present and Future of the Japanese Economy’, Speech at Yale University, May 2000, http://www,epa.jp/2000/b/0505b-daijinkouen-e.html (5 July 2000).

[168]       Taichi Sakaiya, ‘The Present and Future of the Japanese Economy’, Singapore, 1 September 1999.

Chapter 4 - Japan—On the edge of change

[1]           ‘Economic Survey of Japan (1993–1994)—A Challenge to New frontiers Beyond the Severe Adjustment Process’, Economic Planning Agency, Government of Japan, 26 July 1994, http://www.epa.go.jp/e-e/doc/summary.html.

[2]           OECD, ‘Japan Outlook’, Observer, no. 215, January 1999.

[3]           Keidanren, ‘Keidanren Urges the Government to Resolutely Carry Out Sweeping Regulatory Reforms’, 19 October 1999, http://www.keidanren.or.jp/english/policy/pol107.html (20 October 1999).

[4]           Economic Research Department, ‘The Third 18-Month Economic Forecast Using the STP Method’, NLI Research Institute, 1999, No. 124.

[5]           Ryutaro Hashimoto, Minister of International Trade and Industry, ‘Challenges for the World Economy in a Transitional Period and Development in the Asia-Pacific Region’, Vancouver, 2 May 1995, http://www.jef.or.jp/news/challenge.html (19 October 1998)

[6]           The Summary of the Final Report of the Financial System Stabilization Committee, the Financial System Research Council, 22 December 1995; Ryutaro Hashimoto, ‘Challenges for the World Economy in a Transitional Period and Development in the Asia-Pacific Region’, Vancouver, 2 May 1995.

[7]           Peter Hartcher, Committee Hansard, 15 April 1999, p. 335. See comments also by Professor David Reid, Committee Hansard, 25 February 1999, pp. 193 and 195; Professor Teresa Morris-Suzuki, Committee Hansard, 24 May 1999, pp. 606–7.

[8]           For example see Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, p. 503, who stated that business was also reluctant to acknowledge the reality that the economy was turning bad.

[9]           For example see Bank of Japan, Reports and Statistics, Monthly Report of Recent Economic and Financial Developments (March 2000) (The Bank’s View), 10 March 2000; Dai-Ichi Kangyo Research Institute, DKR Economic Report, vol. 3, no. 3, 15 March 2000, p. 2.

[10]         DKR Economic Report, vol. 3, no. 5, 15 May 2000, p. 2.

[11]         Economic Planning Agency, ‘Outline of the Policy Measures for Economic Rebirth’, (summary), 11 November 1999, http://www.epa.gojp/99/b/19991111b-taisaku-e2.html (18 November 1999).

[12]         Adam S. Posen, Restoring Japan’s Economic Growth, Institute for International Economics, Washington, 1998, pp. 6, 28–32, 41.

[13]         Jon Choy, ‘Japanese Fiscal Policy: One Foot on the Gas, the Other Tied to the Brake’, JEI Report No. 16A, Japan Economic Institute, April 1998, pp. 8–9.

[14]         Nariai Osamu, ‘Restructuring in a Deflating Japanese Economy’, Japan Echo, August 1998, p. 39.

[15]         Peter Hartcher, Committee Hansard, 15 April 1999, p. 329. DFAT argued that the Japanese economy would have contracted more sharply if not for the packages. Ms Karen Gilmour, DFAT, Committee Hansard, 15 February 1999, p. 10.

[16]         For example ABARE stated that ‘The consensus remains that this package (April 24) may only be sufficient to prevent the Japanese economy from slipping further into recession’, submission no. 21, p. 3.

[17]         See also, Jon Choy, ‘Japanese Fiscal Policy: One Foot on the Gas, the Other Tied to the Brake’, JEI Report No. 16A, 24 April 1998; Hiroko Ishii and Erika Wada, ‘Local Government Spending: Solving the Mystery of Japanese Fiscal Packages’, Institute for International Economics, Working Paper 98–5, http://www.iie.com/98-5.htm (15 October 1998).

[18]         The Economist Intelligence Unit, Country Report, Japan 1^st quarter 2000, p. 19.

[19]         For Example see Atsushi Takeda, ‘Japan Needs More Public Investments and Another Economic Stimulus Package’, DKR Economic Report, vol. 2, No. 11, 15 November 1999, p. 9.

[20]         Gavan McCormack, ‘Is Japan Facing Financial Armageddon?’, New Asia Pacific Review, vol. 3, no. 2 1997, p. 13.

[21]         Professor Robert Steven, Committee Hansard, 14 April 1999, p. 289.

[22]         Professor Robert Steven, Committee Hansard, 14 April 1999, p. 299.

[23]         Peter McGill, ‘Paving Japan—the Construction Boondoggle’, Japan Quarterly, October–December 1998, p. 40.

[24]         Peter McGill, ‘Paving Japan—the Construction Boondoggle’, Japan Quarterly, October–December 1998, p. 40.

[25]         David D. Hale, Global Chief Economist, Zurich Insurance Group, ‘The Financial Crises in Japan and Asia: A Financial Insider’s View’, Japan Economic Institute Report, No. 36A, 25 September 1998, p. 3. See also Christoper Pokarier, Committee Hansard, 16 April 1999, p. 428.

[26]         Bradley Treadwell, Osborne Associates, Committee Hansard, 19 February 1999, p. 68.

[27]         Nariai Osamu, ‘Restructuring in a Deflating Japanese Economy’, Japan Echo, August 1998, p. 37. See also Comments of Professor Kazutoshi Kase, Tokyo University and Kenneth Courtis, transcript of ‘Dateline’, 5 June 2000.

[28]         Nariai Osamu, ‘Restructuring in a Deflating Japanese Economy’, Japan Echo, August 1998, p. 39.

[29]         Hugh Patrick, ‘The Causes of Japan’s Financial Crisis’, Pacific Economic Papers, no. 288, February 1999, p. 1.13. Just before the announcement of the November 1999 stimulus package a number of economists were calling on the government to introduce another stimulus package as the effect of the earlier ones would begin to taper off. See DKR Economic Report vol. 2, no. 11, 15 November 1999, pp. 8–9.

[30]         The Economist Intelligence Unit Ltd, EIU Country Report, 2nd Quarter, 1998, p. 19.

[31]         Keidanren, ‘A Prescription for the Revitalization of the Japanese Economy’, 23 October 1998, The 21^st Century Public Policy Institute,

http://www.keidanren.or.jp/21ppi/english/policy/19981023/recommendation.html (2 February 1999). Mr Manuel Panagiotopoulos also commented on the lack of enthusiasm for the packages—‘Even some of these meagre growth rates were achieved through massive injections of public funds, which, however, proved to have mainly short-term effects. It is more than likely that the latest such package, a combination of temporary tax cuts and public works will have a similar fate’, submission no. 9, p. 3.

[32]         Jon Choy, ‘Japanese Fiscal Policy: One Foot on the Gas, the Other Tied to the Brake’, JEI Report No. 16A, 24 April 1998, p. 11.

[33]         Policy speech by Prime Minister Keizo Obuchi to the 146^th session of the Diet, 29 October 1999, http://www.kantei.go.jp/foreign/souri/991029policy.html (15 November 1999).

[34]         Editorial, Asahi, 12 November 1999, p. 5 in Daily Summary of Japanese Press, 16 November 1999, American Embassy Tokyo, http://wnsv.iuj.ac.jp/subscription/DailySummary/0544.html (18 November 1999).

[35]         Jon Choy, ‘Japanese Fiscal Policy: One Foot on the Gas, the Other Tied to the Brake’, JEI Report No. 16A, 24 April 1998.

[36]         See Professor David Reid, Committee Hansard, 25 February 1999, p. 192.

[37]         Jim Storey, Asia Pacific Foundation of Canada Round-table Report, ‘Japan at the Crossroads?’, March 1999, no. 9, p. 2.

[38]         See the ideas of Dr Helmut Sohmen, ‘PBEC in a Changing World’, 17 May 1999, PBEC: Speeches & Editorials: 1999, http://www.pbec.org/speeches/1999/990517helmut.htm (20 September 1999).

[39]         Bank of Japan, Monthly Report of Recent Economic and Financial Developments, January and March 2000, http://www.boj.or.jp/en/siryo/siryo/gp9910.htm.

[40]         Bank of Japan, Monthly Report of Recent Economic and Financial Developments (May 2000).

[41]         See Christopher Pokarier, submission no. 10, p. 4 and Committee Hansard, 16 April 1999, p. 427.

[42]         Queensland Government, submission no. 18, p. 24.

[43]         JETRO, ‘Japan’s Economy Present Situation and Prospects, 1998’; Dai-ichi Kangyo Research Institute, DKR Economic Report, vol. 2, no. 10, 15 October 1999. Recent unemployment figures are: 4.9% for February and March 2000, and 4.8% for April 2000. See DKR Economic Report, vol. 3, no. 7, 15 July 2000, p. 10.

[44]         Luke Gower, ‘What has Become of the Japanese Model?’, Agenda, vol. 5, no. 1, 1998. See also Professor David Reid, Committee Hansard, 25 February 1999, p. 194; and Tadashi Nakamae, ‘Japan’s Impending Financial Crisis will Expedite the Necessary Shift of Resources from the Old to the New Economy’, Presentation for the OECD Business and Industry Forum on Realising the Potential of the Service Economy: Facilitating Growth, Innovation and Competition, 28 September 1999.

[45]         Brink Lindsey and Aaron Lukas, ‘Revisiting the “Revisionists”: the Rise and Fall of the Japanese Economic Model’, Centre for Trade Policy Studies, 31 July 1998. Yashiro Naohiro, ‘Understanding Japan’s Unemployment’, Japan Quarterly, October–December 1998.

[46]         Manuel Panagiotopoulos, submission no. 9, pp. 64–5; Christopher Pokarier, submission no. 10, pp.78–9.

[47]         Darryl McGarry, McGarry International Pty Ltd, supplementary submission no. 14A; also see DKR Economic Report, vol. 2, no. 11, 15 November 1999, p. 2.

[48]         Dai-Ichi Kangyo Research Institute, Economic Report, 15 October 1999, p. 2. JEI’s Spin on the News, 8 October 1999 stated ‘According to a mid-July survey of 1,164 firms by Nihon Keizai Shimbun, the average salaried Japanese worker’s summer bonus was ¥720,046, a decline of nearly 5.8 percent from the year before. The drop was the largest since the leading Japanese economic daily began conducting such surveys in 1975 and was the first fall in five years...’

[49]         Taichi Sakaiya, ‘The Present and Future of the Japanese economy’, Singapore, 1 September 1999, http://www.epa.go.jp/99/b/19990903b-daijinkouen-e.html (1 October 1999).

[50]         Krishan Arun Radha, Committee Hansard, 24 February 1999, pp. 109–10. Mr Christopher Pokarier notes that lifetime employment is a misnomer; that the average retirement age for a core employee in a Japanese firm was between 52 and 55, and further that an employee could not access pension entitlements until 65, so a post retirement income position was important, Committee Hansard, 16 April 1999 p. 427. See also Professor Alan Rix, who noted that the notion of lifetime employment has gone and cited the retiring age as 53, Committee Hansard, 16 April 1999, p. 451; Hiroshi Nakano, Japan External Trade Organisation, Sydney Inc, Committee Hansard, 3 September 1999, pp. 787–8; Fuyuki Kitahara, Japan Chamber of Commerce and Industry, Committee Hansard, 3 September 1999, p. 808.

[51]         Yashiro Naohiro, ‘Understanding Japan’s Unemployment’, Japan Quarterly, October-December 1998.

[52]         Taichi Sakaiya, ‘The Present and Future of the Japanese Economy’, Singapore, 1 September 1999, http://www.epa.go.jp/99/b/19990903b-daijinkouen-e.html, (1 October 1999). The public acknowledgment of the end of this tradition is clearly spelt out in the November 1999 policy measures for Economic Rebirth which asserted that talent-based system and performance based system would be the guiding principle for employment practices. ‘Principles of the Policy Measures for Economic Rebirth’, explanatory statement by Minister Taichi Sakaiya, (provisional translation), 11 November 1999, http://www.epa.go.jp/99/b/1999b-taisaku-el.html (15 November 1999).

[53]         See Christopher Pokarier, Committee Hansard, 16 April 1999, p. 426; Dr Christopher Rawlings, QCT, Committee Hansard, 16 April 1999, p. 504.

[54]         See Susumu Taketomi, ‘The Current Economic Situation in Japan and its Future’, Bank of Japan, Speeches, Economic Seminar on the Japanese Economy in Bangkok, 29 June 1998, http://www.boj.or.jp/en/press/koen023.htm (18 January 1999). See also Christopher Pokarier, submission no. 10, pp. 3–4.

[55]         See General Survey, Bulletin, vol. 38, no. 9 September 1999. It stated that Japan’s total fertility rate has continued to fall since 1973 when it reached 2.14 during the second baby boom. See also Arun Radha Krishan, 24 February 1999, Committee Hansard, p. 109; Fuyuki Kitahara, Japan Chamber of Commerce and Industry, Sydney Inc., Committee Hansard, 3 September 1999, p. 803; Dr Carolyn Stevens, Committee Hansard, 17 May 1999, p. 571. The Department of Family and Community Services gave the following predictions for the proportion of the population aged 65 and over from 7% in 1970, through about 15.4% in 1997 and 28% by 2030, Graeme Hope, Department of Family and Community Services, Committee Hansard, 21 June 1999, p. 745. See also Ministry of Health and Welfare, Section 1. The public Pension System: Its Significance and Mechanism, White Paper, http://www.mhw.go.jp/english/white_p/book1/p2_c2/c2_sect1.html (23 June 2000)

[56]         Commonwealth Department of Social Security, submission no. 19; p. 2. See also Jill Miller, Committee Hansard, 24 May 1999, p. 587; Department of Family and Community Services, Committee Hansard, p. 745. Yuichi Shionoya, ‘Japan’s Grand Reforms: From an Economic, Social and Political Perspective’, Transcript of a speech delivered on 12 May 1997 at Asia Foundation and Public Policy Institute of California, http://www.infojapan.org_info/japan/socsec/sionoya.html (29 October 1999).

[57]         Luke Gower, ‘What has Become of the Japanese Model?’, Agenda, vol. 5, no. 1, 1998, p. 67. See also Professor Tessa Morris-Suzuki, submission no.3, pp. 3–4.

[58]         For example see, Professor Alan Rix, Committee Hansard, 16 April 1999, p. 442.

[59]         Yashiro Naohiro, ‘Need for Structural Reform of the Economy’, Journal of Japanese Trade & Industry, no. 3 1998; General Affairs Division, Industrial Policy Bureau, Ministry of International Trade and Industry, ‘An Outline of Economic Structure Reform’, Journal of Japanese Trade & Industry, no. 3, 1998. On pensions see also Ryoichi Tsunematsu, Japan Chamber of Commerce, Sydney, Inc, Committee Hansard, 3 September 1999, p. 804.

[60]         Professor Tessa Morris-Suzuki, submission no. 3, p. 4. See Special Topic, Noriyasu Watanabe, ‘Occupational Pension Systems in Japan’, Japan Labor Bulletin, vol 37, no. 8, August 1998, http://www.jil.go.jp/bulletin/year/1998/vol37-08/04.htm (22 November 1999); Professor Akira Goto, Committee Hansard, 23 August 1999, p. 777.

[61]         Christopher Pokarier, submission no. 10, p. 4. See also Professor Tessa Morris-Suzuki, submission no. 3, p. 4; Charles Yuji Horioka, ‘Japan’s Public Pension System in the Twenty-First Century’, Discussion Paper no. 482, Institute of Social and Economic Research, Osaka University, June 1999, p.21.

[62]         Christopher Pokarier, submission no. 10, p. 4.

[63]         The EIU noted that there are fears that ‘many corporate pensions are now severely under-funded and unable to meet future obligations’. The Economists Intelligence Unit’s Country Analysis, Japan, 2000, p. 40. See also Olivia S. Mitchell, ‘Managing Pensions in the 21^st Century: Design Innovations, Market Impact, and Regulatory Issues for Japan’, Pension Research Council, PRC WP 99–20,University of Pennsylvania, August 1999, p. 1.

[64]         Peter Hartcher, Committee Hansard, 15 April 1999, p. 326. See also Jill Miller, Committee Hansard, 24 May 1999, p. 587 and Ryoichi Tsunematsu, Japan Chamber of Commerce and Industry, Sydney Inc., Committee Hansard, 3 September 1999, p. 804.

[65]         Kaoru Yosano, ‘Japan’s Challenge Toward the 21^st Century’, Speech at the Foreign Correspondents’ Club of Japan, 18 December 1998.

[66]         Christopher Pokarier, submission no. 10, p. 4; Professor Teresa Morris-Suzuki, Committee Hansard, 24 May 1999, p. 606.

[67]         Shinobu Nakagawa, Bank of Japan, Research Papers, ‘Why has Japan’s Household Savings Rate Remained High even during the 1990?: Empirical Analysis on Risk Bias Viewed by the Characteristics of the Household Sector’, July 1999.

[68]         Queensland Government, submission no. 18, p. 23. See also The Japan Research Institute Ltd, Economics Department, ‘Prospects for the Japanese Economy’, January 1999, p. 5.

[69]         Ministry of Health and Welfare, ‘Structural Reform of the Social Security Programs for an Aged Society with Fewer Children: 1990–Present’, [1997] http://www.mhw.go.jp/english/ssp_inj_/services/6th.html (29 October 1999).

[70]         Jill Miller, Committee Hansard, 24 May 1999, p. 587.

[71]         Christopher Pokarier, submission no. 10, p. 5.

[72]         Christopher Pokarier, submission no. 10, p. 5.

[73]         Professor Gavan McCormack is one of the most vocal analysts concerned about Japan’s large public debt. In 1997 he pointed out that ‘a level of public indebtedness running at around a quarter of any country’s GDP would be regarded as serious; in Japan’s case, it is more than one quarter of global GDP’. Gavan McCormack, ‘Is Japan Facing Financial Armageddon?’, New Asia Pacific Review, vol. 3, no. 2 1997, p. 10 and Committee Hansard, 24 May 1999, p. 617–19. He provided the following statistics to the Committee: the size of the debt comes to between ¥700 and ¥800 trillion, although some figures put it much higher...the national debt as a percentage of GDP was only 5% in 1965; 21% in 1975; 84% in 1995 and 102% in 1998. Austrade put the government deficit at about 110% to 120% of GDP, Committee Hansard, 27 May 1999, p. 643. Dr Aurelia George Mulgan agreed with Austrade’s figures stating that the Japanese government’s financial situation has reached a level of actual bankruptcy in which the accumulated fiscal deficit amounts to about 120% of GDP, Committee Hansard, 28 May 1999, p. 679. See also Professor Peter Drysdale, Committee Hansard, 23 August 199, p. 764. Total gross debt of general government (which includes social security) is expected to reach about 114% of GDP in 2000; Peter Jarrett, ‘Japan’s economy: is the sun rising?’, OECD Observer, 27 January 2000.

[74]         Press conference by Prime Minister Ryutaro Hashimoto on the Final Report of the Conference on Fiscal Structural Reform, 3 June 1997.

[75]         Policy speech by Prime Minister Ryutaro Hashimoto to the 141^st Session of the National Diet, 29 September 1997.

[76]         IMF World Economic Outlook, Financial Turbulence and the World Economy, A Survey by the staff of the International Monetary Fund, October 1998, p. 117.

[77]         OECD Economic Outlook, no. 66, preliminary version, November 1999.

[78]         Atsushi Takeda, ‘Japan Needs More Public Investments and Another Economic Stimulus Package’, DKR Economic Report, vol. 2, no. 11, 15 November 1999, p. 9.

[79]         Taichi Sakaiya, Minister of State, Economic Planning Agency, Government of Japan, ‘The Present and Future of the Japanese Economy’, Speech at Yale University, New Haven, Connecticut, May 2000, http://www.epa.go.jp/2000/b/0505b-daijinkouen-e.html (5 July 2000).

[80]         Christopher Pokarier, Committee Hansard, 16 April 1999, p. 428; and submission no. 10, pp. 4–5.

[81]         Ministry of Health and Welfare, ‘Structural Reform of the Social Security Programs for an Aged Society with Fewer Children: 1990–Present’, http://www.mhw.go.jp/english/ssp_inj_/services/6th.html (29 October 1999).

[82]         Ministry of Health and Welfare, ‘Structural Reform of the Social Security Programs for an Aged Society with Fewer Children: 1990–Present’, http://www.mhw.go.jp/english/ssp_inj_/services/6th.html (29 October 1999).

[83]         See for example, Michael Hutchison and Kathleen McDill, ‘Predicting Banking Crises: Japan’s Financial Crisis in International Comparison’, Pacific Economic Papers, no. 289, Australia-Japan Research Centre, March 1999, p. 22.

[84]         Masaru Hayami, ‘Issues Regarding the Japanese Financial System and Monetary Policy’, Bank of Japan, Governor’s Speeches, 11 September 1998.

[85]         See Thomas Cargill, Michael Hutchison and Takatoshi Ito, ‘Japanese reregulation: What You Should Know’, Japan Information Access Project, http://www.nmjc.org/jiap/deregulate/papers/deregcon/hutchison.html (1 March 1999).

[86]         Dr Craig Freedman, Committee Hansard, 15 April 1999, p. 342.

[87]         Douglas Ostrom, ‘Japan’s Banks and the Bad-Loan Problem: the Nightmare Continues’, Japan Economic Institute Report, No. 25A, 3 July 1998, p. 9.

[88]         Taichi Sakaiya, Minister of State, Economic Planning Agency, Government of Japan, Speech at Centre for Strategic and International Studies, Washington D.C., April 1999.

[89]         Edward J. Lincoln, ‘Japan’s Economic Mess’, a paper by Edward J. Lincoln, the Brookings Institution, presented to the Japan Economic Seminar, Washington, D.C., 25 April 1998, in JEI Report, No. 18A, 8 May 1998, pp. 6–7.

[90]         Ogino Hiroshi, ‘Bureaucratic Prestige Imperilled by Selective Administration’, Japan Quarterly, July-September, 1998.

[91]         Michael Backman, Asian Eclipse: Exposing the Dark Side of Business in Asia, John Wiley & Sons (Asia) Pty Ltd, Singapore, 1999, p. 146.

[92]         Donald Macintyre, ‘Ministries of Shame, Time Asia, vol. 151, no. 11, 23 March 1998; http://cgi.pathfinder.com/time/asia/magazine/1998/980323/japan.html (24 March 1999); Robert Uriu, ‘Japan in 1998’, Asian Survey, vol. 39, no. 1, January/February 1999, p. 117. There have been numerous articles written on this matter of corruption in the Japanese bureaucracy. See for example, Sandra Sugawara, ‘For Japan Inc and its Regulators, the Dinner Date’s Off’, Washington Post Foreign Service, 11 April 1998; Ueda Atsushi, ‘Neo-Bushido for Tomorrow’s Japan’, Japan Echo, vol. 25, no. 3, June 1998; Andrew Cornell, Australian Financial Review, 15 November 1999, p. 13.

[93]         Policy speech by Prime Minister Yoshiro Mori to the 147^th Session of the Diet, 7 April 2000, http://www.kantei,go.jp/foreign/souri/mori/2000/0407policy.html ( June 2000).

[94]         Ogino Hiroshi, ‘Bureaucratic Prestige Imperilled by Selective Administration’, Japan Quarterly, July-September, 1998.

[95]         Sam Jameson in ‘Scandal hurts Big Bang reform’, Asia Timesnet, 1 September 1997, defined sokaiya as a specialist—‘someone who extorts money from companies in exchange for not revealing sensitive information about the firm or ask embarrassing questions at shareholders’ meetings’. http://web3.asia1.com.sg/timesnet/data/about/docs/as1403.html (4 November 1999).

[96]         ibid.

[97]         Yuichi Shionya, ‘Japan’s Grand Reforms: From an Economic, Social and Political Perspective’, Transcript of a speech delivered on 12 May 1997, at Asia Foundation and Public Policy Institute of California, http://www.infojapan.org/j_info/japan/socsec/sionoya.html.

[98]         Transcript: Deputy USTR Fisher, June 16 Worldnet Program on APEC, 17 June 1999.

[99]         DFAT, submission no. 32, p. 7.

[100]       OECD, Regulatory Reform in Japan, Paris, 1999, pp. 11 and 16.

[101]       Richard Katz, ‘Economic Anorexia: Japan’s Real Demand Problem’, Challenge, March-April 1999, p. 92. See also Philip Henry, Queensland Government, Committee Hansard, 16 April 1999, p. 409. Dr George Mulgan stated simply that the Japanese Government has been ‘long on rhetoric and short on delivery’, Committee Hansard, 28 May 1999, p. 673.

[102]       Lonny E. Carlie, ‘Japanese Deregulation: What you should know’, Centre for Japanese Studies, Asian Studies, University of Hawaii, Manoa, http://www.nmjc.org/jiap/dereg/papers/deregcon/carlile.html.

[103]       Peter Hartcher, Committee Hansard, 15 April 1999, p. 326.

[104]       Peter Hartcher, Committee Hansard, 15 April 1999,  p. 326.

[105]       Christopher Pokarier, Committee Hansard, 15 April 1999, p. 425.

[106]       Dr Aurelia George Mulgan, Committee Hansard, 28 May 1999, p. 675. See also See Stuart M. Chemtob, Special Counsel for International Antitrust Division, US Department of Justice, Keynote Address ‘The ‘Frustration and Promise of Japanese Deregulation’, 4 April 1997, in Japan Information Access Project; Yasuo Kanzaki, ‘Deregulation in Japan: Big Bang or Big Whimper’, a talk delivered at the Woodrow Wilson International Centre for Scholars, the Smithsonian Institution, Washington, 7 March 1997.

[107]       The Economist Intelligence Unit Ltd, EIU Country Report, 3rd quarter 1999, p. 20. See also Mr Shinji Sato, ‘English Translation of Minister Sato’s Speech at the Foreign Correspondents’ Club of Japan, 16 June 1997, who acknowledged that reform would generate friction within Japan. http://www.miti.jp/press-e/f300001e.html  (24 April 2000)

[108]       DFAT, submission no. 32, p. 6.

[109]       Isao Nakauchi, Text of speech by Mr Isao Nakauchi, Vice Chairman of Keidanren, at the Foreign Correspondents’ Club of Japan, 19 September 1994.

[110]       For example see comments by Professor David Allen, Committee Hansard, 25 February 1999, p. 188.

[111]       Taichi Sakaiya, Minister of State, Economic Planning Agency, Government of Japan, ‘The Present and Future of the Japanese Economy’, Speech at Yale University, Connecticut, US, May 2000, http://www.epa.go.jp/2000/b/0505b-daijinkouen-e.html (5 July 2000)

[112]       DFAT, submission no. 32, pp. 5, 7.

[113]       Dr Yasuo Takao, Committee Hansard, 24 February 1999, pp. 124–5.

[114]       See Terrence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 42.

[115]       Robert Uriu, ‘Japan in 1998’, Asian Survey, vol. 39, no. 1, January/February 1999, p. 116.

[116]       Dr Yasuo Takao, Committee Hansard, 24 February 1999, p. 124.

[117]       Larry Crump, Committee Hansard, 16 April 1999, p. 473.

[118]       Akira Kawamoto, Unblocking Japanese Reform’, OECD Observer, 2 April 1999, http://www.oecdobserver.org/news/fullstory.php3?aid=5 (25 October 1999).

[119]       Queensland Government, submission no. 18, p. 8.

[120]       Transcript: Deputy USTR Fisher, June 16 Worldnet Program on APEC, 17 June 1999.

[121]       Arun Radha Krishnan, Committee Hansard, 24 February 1999, p. 108.

[122]       Karel Van Wolferen, Professor for Comparative, Political and Economic Institutions, University of Amsterdam, Holland, Transcript of Television Programme, ‘Lateline’, 2 November 1999.

[123]       Presentation by Ambassador Ove Juul Jorgensen, Head of the Delegation of the European Commission in Japan, Tokyo, 6 June 2000, http://jpn.cec.eu.int/english/press-info/4-2-48.htm (8 June 2000).

[124]       Akira Kawamoto, ‘Unblocking Japanese Reform’, OECD Observer, 2 April 1999, http://www.oecdobserver.org/news/fullstory.php3?aid=5 (25 October 1999). See also Professor Karel van Wolferen, transcript, ‘Lateline’, 2 November 1999; and Yoshio Ichiryu and Yuji Hosoya, MITI/RI Discussion Paper no. 98-DOF-29, ‘New Developments in Economic Policy: Complementarity between Government and the Market Place’, September 1998, p. 24.

[125]       Austrade, submission no. 35, p. 3.

[126]       Austrade, submission no. 35, p. 10. See also Douglas Ostrom, JEI Report, no. 20—19 May 1999, ‘Corporate Japan’s restructuring Efforts: A Progress Report’, http://www.jei.org/Reports?JEOR/00JEIRsummaries/s0020.html (8 June 2000); and article ‘A New Japan?’ in Businessweek on Line, 25 October 1999, which was also concerned that the Japanese establishment ‘will still find a way to preserve its cloistered economy’ and that reform may well be ‘just enough to prevent another real crisis’, http://businessweek.competition/1999/99_43/b3652010.htm?scriptFramed (8 June 2000).

[127]       Christopher Pokarier, Committee Hansard, 16 April 1999, p. 426.

[128]       Robert Uriu, ‘Japan in 1998’, Asian Survey, vol. 39, no. 1, January/February 1999, p. 117. See also ‘The Japan Puzzle’, the Economist, 21 March 1998, p. 24.

[129]       Lonny Carlie, Mark Tilton, ‘Japan’s Deregulation “Action Plan” and the Deregulation’, Japan Information Access Project, April/May 1996.

[130]       Dr Aurelia George Mulgan, submission no. 20, p. 23.

[131]       Dr Aurelia George Mulgan, submission no. 20, p. 22.

[132]       Dr Aurelia George Mulgan, submission no. 20, p. 19.

[133]       Dr Aurelia George Mulgan, submission no. 20, pp. 19–20.

[134]       Akira Kawamoto, Unblocking Japanese Reform’, OECD Observer, 2 April 1999, http://www.oecdobserver.org/news/fullstory.php3?aid=5 (25 October 1999).

[135]       Dr Aurelia George Mulgan, submission no. 20, pp. 19–20. Mr Pokarier supported this view—‘Japanese firms have responded rationally to the regulatory settings within which they find themselves. Many have typically through their industry associations, also made investments in political processes aimed at securing the regulatory settings that served their own immediate interests but which have imposed costs on other, politically less well organised groups.’ See submission no. 10, p. 8; and ‘Corporate Efforts to Promote Deregulation’, text of speech given by Mr Isao Nakauchi, Vice Chairman of Keidanren, at the Foreign Correspondents’ Club of Japan, 19 September 1994, http://www.keidanren.or.jp/english/policy/pol001.html.

[136]       Dr Aurelia George Mulgan, submission no. 20, p. 20.

[137]       Michael Backman, Asian Eclipse, John Wiley & Sons (Asia) Pty Ltd, Singapore, 1999.

[138]       Dr Aurelia George Mulgan, submission no. 20, p. 8.

[139]       Ogino Hiroshi, ‘Bureaucratic Prestige Imperilled by Selective Administration, Japan Quarterly, July–September 1998, p. 9.

[140]       Robert Uriu, ‘Japan in 1998’, Asian Survey, vol. 39, no. 1, January/February 1999, p. 117. See also, Sakaiya Taichi, ‘The Myth of the Competent Bureaucrat’, Japan Echo, vol. 25, no. 4, February 1998; and Yoshihisa Murasawa, ‘Corporate governance: the turmoil continues’, Euro-Japanese Journal, vol. 5, no. 1, Summer, 1998, p. 18.

[141]       Terrence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, pp. 48–9; DFAT, submission no. 32, p. 26.

[142]       Yuichi Shionya, ‘Japan’s Grand Reforms: From an Economic, Social and Political Perspective’, Transcript of a speech delivered on 12 May 1997, at Asia Foundation and Public Policy Institute of California, http://www.infojapan.org/j_info/japan/socsec/sionoya.html.

[143]       Noguchi Yukio, ‘The Persistence of the 1940 Setup’, Japan Echo, vol. 24, Special issue, 1997.

[144]       See Dr Keiko Morita, Committee Hansard, 15 April 1999, p. 310.

[145]       Keidanren, ‘Keidanren Urges the Government to Resolutely Carry out Sweeping Regulatory Reforms’, 19 October 1999, http://www.keidanren.or.jp/english/policy/pol1107.html (5 November 1999).

[146]       Jiro Ushio, Chairman’s Address for the 1998 Annual Meeting, Keizai Doyukai, 22 April 1998.

[147]       Chester Dawson, ‘Brave New World’, Far Eastern Economic Review, 28 October 1999, http://www.feer.com/9910_28/p76economiesb.html (18 November 1999).

[148]       For example see Yuichi Shionoya, ‘Japan’s Grand Reforms: From an Economic, Social and Political Perspective’, Transcript of a speech delivered on 12 May 1997 at Asia Foundation and Public Policy Institute of California, http://www.infojapan.org_info/japan/socsec/sionoya.html (29 October 1999); Michael Hirsh and E. Keith Henry, ‘The Unraveling of Japan Inc.’, Foreign Affairs, March/April 1997, pp. 12–13.

[149]       Yoshio Ichiryu and Yuji Hosoya, MITI/RI Discussion Paper no. 98-DOF-29, ‘New Developments in Economic Policy: Complementarity between Government and the Market Place’, September 1998.

[150]       News Release, ‘Nissan unveils Revival Plan’, 18 October 1999, Tokyo, http://global.nissan.co.jp/Japan/NEWS/199991018_0e.html (18 November 1999). See articles following the decision by Nissan to shut a number of plants, Asia Time, 20 October, 1, 5 and 19 November 1999.

[151]       In September 1999, Ripplewood Holdings acquired the Long Term Credit Bank of Japan (LTCB) which had been placed under temporary nationalization in October 1998. The LTCB had retained Goldman Sachs as its financial adviser to facilitate its sale. Memorandum of Understanding on Acquisition of LTCB, 28 September 1999, http://www.1tcb.co.jp/docsdir/en/news/press0928.html (19 November 1999). See also Professor Morris-Suzuki, Committee Hansard, 24 May 1999, p. 604; and Professor Peter Drysdale, Committee Hansard, 23 August 1999, p. 765.

[152]       The Chuo Trust & Banking Co. Ltd, Announcement of Merger, 24 May 1999, http://www.chuotrust.co.jp/eng/may/2499a.html (18 November 1999).

[153]       The Dai-Ichi Kangyo Bank, Limited (“DKB”), the Fuji Bank, Limited (“Fuji”) and the Industrial Bank of Japan, Limited (“IBJ”) to get consolidated to form a new financial services group (“the New Group”) News Release, http://www.fujibank.co.jp/pub/news/news-e/news-e8-20.html (18 November 1999).

[154]       Christopher Pokarier, submission no. 10, p. 6.

[155]       In May 1998, the Ministry of Finance approved a securities business licence for Merrill Lynch Japan Securities, a wholly owned subsidiary of Merrill Lynch, the company’s new private client business serving individual investors in Japan. Merrill Lynch press release, 12 February and 26 May 1998, http://www.ml.com/woml/press_release (21 January 2000).

[156]       Austrade, submission no. 35, p. 7.

[157]       Michael Hirsh and E. Keith Henry, ‘The Unravelling of Japan Inc.’, Foreign Affairs, vol. 76, no. 2, March/April 1997, p.13.

[158]       Keiko Morita, Committee Hansard, 15 April 1999, p. 310.

[159]       Dr Aurelia George Mulgan, submission no. 20, p. 24. See also Aurelia George Mulgan, ‘The Politics of Deregulation and Japanese Agriculture, in T.J. Pemwel et al. Also, The Politics of Economic Reform in Japan: Collected Papers, Pacific Economic Papers, No. 270, August 1997.

[160]       Christopher Pokarier, Committee Hansard, 16 April 1999, p. 429.

[161]       Dr Aurelia George Mulgan, submission no. 20, p. 25.

[162]       Arthur J. Alexander, ‘On-the-Ground Impressions of Japan’s Economic Problems’, Japan Economic Institute Report, no. 8A, 26 February 1999, p. 9. The most recent example of the Japanese Government bowing to public criticism involved the government’s decision not to bail out department store giant Sogo by waiving loan claims. See Daily Yomiuri Online, 14 July 2000 and AsiaNow Time, 31 July 2000, http://www.cnn.com/ASIANOW/time/magazine/2000/0731/japan.seiyo.html  (26 July 2000).

[163]       For example see Financial Reconstruction Commission, ‘Basic Operating Policies for the Financial Reconstruction Commission’, (Summary, Provisional translation) 20 January 1999.

[164]       Some examples of banks being placed under administrators are: Kokumin Bank Ltd in April; Tokyo Sowa Bank, Ltd in June; the Namihaya Bank Ltd, in August; and the Niigata Chuo Bank, Ltd in October 1999.

[165]       Mr Ken Curtis, Managing Director, Deutsche Bank Group, transcript, ‘Lateline’, 2 November 1999.

[166]       Yasuo Kanzaki, Chairman, Nikko Research Center Ltd, ‘Deregulation in Japan: Big Bang or Big Whimper?’, a talk delivered at the Woodrow Wilson International Center for Scholars, Smithsonian Institution, Washington, Japan Information Access Project, 7 March 1997.

[167]       The Economic Intelligence Unit, Country Report, Japan, 1^st quarter 2000. This report cited the following examples of the government’s prevarication on reform—the postponement of the imposition of consolidated accounting and the backtracking in the area of deposit insurance, p. 19.

[168]       For example see, Austrade, submission no. 35, p. 10.

[169]       Mark Tilton, ‘Japanese Deregulation: What you Should Know’, Japan Information Access Project, http://www.nmjc.org/jiap/deregulate/papers/deregcon/tilton.html (15 June 1999).

[170]       Peter Hartcher, Committee Hansard, 15 April 1999, p. 332.

[171]       Taichi Sakaiya, Minister of State, Economic Planning Agency, Government of Japan. ‘The Present and Future of the Japanese Economy’, Speech at Yale University, Connecticut, US, May 2000, http://www.epa.go.jp/2000/b/0505b-daijinkouen-e.html (5 July 2000).

Chapter 5 - Australia and Japan—A trading tradition

[1]           Alan Rix, Coming to Terms: the politics of Australia’s trade with Japan 1945–57, Allen & Unwin, Sydney, 1986, p. 20; and Peter Robinson, Towards a Total Partnership: a View of Australian-Japanese Trade Relations, 1977, p. 13.

[2]           Neville Meaney, Towards a new Vision: Australia & Japan, Through 100 Years, Kangaroo Press, Sydney, 1999, p. 56.

[3]           Jim Lewis, President, BHP Non Ferrous and Industrial Materials, The Broken Hill Propriety Company Ltd, ‘Australian minerals sector partnership with Japan a productive past—a challenging future’, http://www.ausimm.com.au/branches/canbl.html (7 December 1999).

[4]           Official Year Book of the Commonwealth of Australia, No.1—1908, Melbourne, 1908, pp. 501, 504, 506 and 508.

[5]           Alan Rix, Coming to Terms: the politics of Australia’s trade with Japan 1945–57, Allen & Unwin, Sydney, 1986, p. 11.

[6]           Official Year Book of the Commonwealth of Australia, 1901–1907, No. 1—1908, pp. 503, 508, and 510 and No. 14—1921, pp. 500, 503, 508, 510.

[7]           Official Year Book of the Commonwealth of Australia, No. 24—1931, Melbourne, pp. 118, 120.

[8]           Official Year Book of the Commonwealth of Australia, No. 30—1937, Melbourne, 1908, p. 493.

[9]           In 1934–35 Japan was importing Australian products valued at £Stg9,657 but exporting only £Stg4,625 worth of goods to Australia. In 1935–36 the deficit had increased—Japan was importing products from Australia valued at £Stg14,101 and in return exporting products valued at only £Stg4,970, Official Year Book of the Commonwealth of Australia, No. 30—1937, p. 507.

[10]         ibid., p. 494.

[11]         For example see: Mr Longfield Lloyd, Trade Commissioner in Japan to Mr J. F. Murphy, Secretary of Department of Commerce, 6 October 1937, Documents on Australian Foreign Policy 1937–38, R.G.Neale (ed.), AGPS, Canberra, 1975, pp.234–5.

[12]         For example see: Mr F. G. Shedden, Secretary of Department of Defence, to LT Col W. R. Hodgson, Secretary of Department of External Affairs, 6 December 1937, Documents on Australian Foreign Policy 1937–38, R. G. Neale (ed.), AGPS, Canberra, 1975, pp. 237–9 and Memordandum by Lt Col W. R. Hodgson, Secretary of Department of External Affairs, for Mr R. G. Casey, Minister in Charge of Development, Documents on Australian Foreign Policy 1937–38, R.G.Neale (ed.), AGPS, Canberra, 1975, pp.240–2.

[13]         Memorandum by Lt Col W.R. Hodgson, Secretary of Department of External Affairs for Mr R.G. Casey, Minister in Charge of Development, 13 December 1937; Mr Torao Wakamatsu, Japanese Consul-General in Sydney, to Mr J. A. Lyons, Prime Minister, 5 April 1938; Mr Torao Wakamatsu, Japanese Consul-General in Sydney, to Mr J. A. Lyons, Prime Minister, Sydney, 24 May 1838, Documents on Australian Foreign Policy 1937–38, R. G. Neale (ed.) AGPS, Canberra, 1975, pp. 240–242, 312–315, 356–357. Neville Meaney, Towards a New Vision: Australia & Japan, Through 100 Years, Kangaroo Press, Sydney, 1999, pp. 78–9.

[14]         Exports from Australia to Japan fell from 14.19% in 1935–36 to 6.54% in 1936–37; 4.16% in 1937–38 and 3.97% in 1938–39. Imports fell from Japan though not as significantly. In 1935–36 Australia imported 6.09% of its total imports from Japan. This fell to 4.52% in 1936–37; 4.90% in 1937–38 and 4.22% in 1938–39. Official Year Book of the Commonwealth of Australia, no. 34—1941, pp. 663, 665.

[15]         Sandra Tweedie, Trading Partners Australia and Asia 1970–1993, UNSW Press, Sydney, 1994, pp. 143–6; Peter Robinson, Towards a Total Partnership: a View of Australian-Japanese Trade Relations, 1977, p. 21.

[16]         Cabinet Submission by Evatt, Courtice and Pollard, Agendum 1343, 26 May 1947, in Australia and the Postwar World, Documents 1947, Department of Foreign Affairs, 1995, pp. 674–675.

[17]         Department of External Affairs to Embassy in Washington, Cablegram 628, Canberra, 2 June 1947, Australia and the Postwar World, Documents 1947, Department of Foreign Affairs, 1995, p. 677.

[18]         Minute from Crawford to McEwen, Canberra, 1 June 1953, The Australia-Japan Agreement of Commerce 1957, Department of Foreign Affairs, 1997, p. 47. See Official Year Book of the Commonwealth of Australia, No. 44—1958, p. 345.

[19]         Official Year Book of the Commonwealth of Australia, No. 44—1958, p. 346.

[20]         Official Year Book of the Commonwealth of Australia, No. 39—1953, p. 482; no. 44—1958, p. 354.

[21]         Cablegram from Walker to Watt, 9 June 1953, The Australia-Japan Agreement on Commerce 1957, Department of Foreign Affairs, 1997, p. 51.

[22]         Submission 614 to Cabinet by McLeay, 30 January 1954, The Australia-Japan Agreement on Commerce 1957, Department of Foreign Affairs, 1997, p. 87.

[23]         Appendix A, Submission 30 to Cabinet by Casey, Canberra, 28 July 1954, The Australia-Japan Agreement on Commerce 1957, Department of Foreign Affairs, 1997, p. 118.

[24]         Appendix A, Submission no. 30 to Cabinet by Casey, 28 July 1954, The Australia-Japan Agreement on Commerce 1957, Department of Foreign Affairs, 1997, p. 115.

[25]         Cabinet Decision 203, Canberra, 21 May 1956, The Australia-Japan Agreement on Commerce 1957, Department of Foreign Affairs, 1997, p. 241.

[26]         See Appendix 3.

[27]         Statement by McEwen, 6 July 1957, The Australia-Japan Agreement on Commerce 1957, Department of Foreign Affairs, 1997, pp. 449–455.

[28]         Memorandum from Eckersley to Department of External Affairs, Tokyo, 10 July 1957, The Australia-Japan Agreement on Commerce 1957, Department of Foreign Affairs, 1997, p. 455.

[29]         Letter from Menzies to Home [Lord Home, Secretary of State for Commonwealth Relations], 4 July 1957, The Australia-Japan Agreement on Commerce 1957, Department of Foreign Affairs, 1997, p. 430.

[30]         Official Year Book of the Commonwealth of Australia, no. 44—1958, p. 346 and no. 49—1963, p. 551.

[31]         Taken from Official Year Book of the Commonwealth of Australia, no. 44—1958, p. 354.

[32]         Official Year Book of the Commonwealth of Australia, no. 46—1960, p. 483.

[33]         J.G. Crawford, Kenzo Hemmi, et al, ‘Australian Agriculture and Trade with Japan’, Australian Japan Economic Relations Research Project, July 1975, p. 134.

[34]         J.G. Crawford, Kenzo Hemmi, et al, ‘Australian Agriculture and Trade with Japan’, Australian Japan Economic Relations Research Project, July 1975, p. 86.

[35]         Richard Pomfret, ‘Australian Experience with Exporting to Asia’, Centre for International Economic Studies, University of Adelaide, January 1996, p. 27.

[36]         Peter Robinson, Towards a Total Partnership: A View of Australian-Japanese Trade Relations, 1977, p. 21.

[37]         Peter Robinson, Towards a Total Partnership: A View of Australian-Japanese Trade Relations, 1977, p. 21.

[38]         Official Year Book of the Commonwealth of Australia, no. 56—1970, p. 307.

[39]         Figures taken from Official Year Book of the Commonwealth of Australia, no. 56—1970, p. 307 and no. 57—1971, p. 302.

[40]         Official Year Book of the Commonwealth of Australia, no. 56—1970, p. 303.

[41]         Figures taken from Official Year Book of the Commonwealth of Australia, no. 53—1967, p. 393 and no. 56—1970, p. 303.

[42]         Official Year Book of the Commonwealth of Australia, no. 56—1970, p. 315.

[43]         Official Year Book of the Commonwealth of Australia, no. 59—1973, p. 302; no. 63—1979, p. 586.

[44]         Saburo Okita, ‘Japan’s High Dependence on Natural Resources Imports and its Policy Implications’, Japan Economic Research Centre, Australia-Japan Economic Relations Research Project, April 1975, p. 3.

[45]         J.G. Crawford, Kenzo Hemmi, et al, ‘Australian Agriculture and Trade with Japan’, Australian Japan Economic Relations Research Project, July 1975, p. 110.

[46]         Basic Treaty of Friendship and Co-operation between Australia and Japan, signed in Tokyo 16 June 1976 and came into force on 21 August 1977.

[47]         Saburo Okita, ‘Japan’s High Dependence on Natural Resources Imports and its Policy Implications’, Japan Economic Research Centre, Australia-Japan Economic Relations Research Project, April 1975, p. 6.

[48]         Saburo Okita, ‘Japan’s High Dependence on Natural Resources Imports and its Policy Implications’, Japan Economic Research Centre, Australia-Japan Economic Relations Research Project, April 1975, p. 1.

[49]         Saburo Okita, ‘Japan’s High Dependence on Natural Resources Imports and its Policy Implications’, Japan Economic Research Centre, Australia-Japan Economic Relations Research Project, April 1975, p. 11.

[50]         Saburo Okita, ‘Japan’s High Dependence on Natural Resources Imports and its Policy Implications’, Japan Economic Research Centre, Australia-Japan Economic Relations Research Project, April 1975, p. 11.

[51]         Report of the Ad Hoc Working Committee on Australia-Japan Relations, Canberra, May 1978, p. 78.

[52]         Official Year Book of the Commonwealth of Australia, no. 65—1981, p. 639 and no. 68, p. 616.

[53]         Figures taken from Official Year Book of the Commonwealth of Australia, no. 56—1970, p. 307; no. 57—1971, p. 302; no. 58—1972, p.306; no. 59—1973, p. 305; no. 60—1974, p. 327; no.61—1975 and 1976, p. 343; no. 62—1978, p. 657; no. 63—1979, p. 595; no. 65—1981, pp. 639–40. The high figure given for meat and meat preparations for 1972—73 is that given in the year book for 1974.

[54]         Official Year Book of the Commonwealth of Australia, no. 59—1973, p. 302; no. 65—1981, p. 640.

[55]         Jamie Anderson, ‘Australia’s Market Access Agenda Towards Japan’, Pacific Economic Papers, no. 291, Australia-Japan Research Centre, May 1999, p. 2. He wrote that in 1993 iron ore, coal, wool and beef accounted for 62% of Australia’s exports.

[56]         Jamie Anderson, ‘Australia’s Market Access Agenda Towards Japan’, Pacific Economic Papers, no. 291, Australia-Japan Research Centre, May 1999, p. 2.

[57]         This policy statement appeared in Year Book Australia 1983 and in subsequent editions. See Official Year Book of the Commonwealth of Australia, no. 67—1983, p. 664.

[58]         Jamie Anderson, ‘Australia’s Market Access Agenda Towards Japan’, Pacific Economic Papers, no. 291, Australia-Japan Research Centre, May 1999, p. 2.

[59]         Report of the High-Level Trade Mission to Japan, July 1984, AGPS, Canberra 1984, p. 1.

[60]         Peter Drysdale, Nancy Viviani, Akio Watanabe and Ippei Yamazawa, The Australia-Japan Relationship: Towards the Year 2000, Australia-Japan Research Centre and Japan Centre for Economic Research, Canberra & Tokyo, 1989, p. 18.

[61]         Peter Drysdale, Nancy Viviani, Akio Watanabe and Ippei Yamazawa, The Australia-Japan Relationship: Towards the Year 2000, Australia-Japan Research Centre and Japan Centre for Economic Research, Canberra & Tokyo, 1989, p. 18.

[62]         H.S. Kehal, ‘Implications for Australian Trade of the Recession in Japan’, Current Affairs Bulletin, vol. 69, no. 1, June 1992, p. 29.

[63]         Foreword to Report of the High-Level Trade Mission to Japan, July 1984.

[64]         Official Year Book of the Commonwealth of Australia, no.63, 1973, p. 595; no. 65, 1981, p. 639.

[65]         Figures taken from Official Year Book of the Commonwealth of Australia, no. 66—1982, p. 648; no. 67—1983, p. 687; no. 68—1984, p. 616; no. 70—1986, p. 610.

[66]         Peter Drysdale, Nancy Viviani, Akio Watanabe and Ippei Yamazawa, The Australia-Japan Relationship: Towards the Year 2000, Australia-Japan Research Centre and Japan Center for Economic Research, Canberra & Tokyo, 1989, pp. 59–61.

[67]         Year Book Australia, 1991, no. 74, Australian Bureau of Statistics, Canberra, 1991, pp. 378–9.

[68]         Official Year Book of the Commonwealth of Australia, no. 67—1983, p. 748; no. 75—1992, p. 388.

[69]         Figures taken from Official Year Book of the Commonwealth of Australia, no. 64—1980, p. 745; no. 67—1983, p. 748; no. 70—1986, p. 684; no. 71—1988, p. 482; no. 73—1990, p. 381; no. 75—1992, p. 388.

[70]         Purnendra Jain and Donna Weeks, ‘Australia and Japan: Banking on the “Constructive Partnership” ’, Current Affairs Bulletin, vol. 69, no. 9, February 1993, p. 14. Official Year Book of the Commonwealth of Australia, no. 71—1988, p. 909. See figures given for levels of investment in Official Year Book of the Commonwealth of Australia, no.72, 1992, p. 725. Note these figures differ slightly from Table 5.8—see footnote 71 for explanation.

[71]         Purnendra Jain and Donna Weeks, ‘Australia and Japan’, Current Affairs Bulletin, vol. 69, no. 9, February 1993, p. 14. Official Year Book of the Commonwealth of Australia, no. 71—1988, p. 909. See also Year Book Australia 1991, Australian Bureau of Statistics, Canberra, 1991, p. 379.

[72]         Purnendra Jain and Donna Weeks, ‘Australia and Japan’, Current Affairs Bulletin, vol. 69, no. 9, February 1993, pp. 13–14.

[73]         Year Book Australia 1994, no. 76, p. 791. These figures are subject to review by the Australian Bureau of Statistics. The Year Book for 1997 shows that although Japan was certainly narrowing the gap between its level of investment in Australia with that of the US and the UK, it did not eclipse the UK in 1989–90 or 1990–91. In 1990–91 Japan remained third in rank with $51 billion behind the UK with 54.3 billion and the US with 55.3 billion, Year Book Australia, 1997, p. 734. The changes in part are due to a change in collection methodology.

[74]         Jammie Penm and industry analysts, ‘Japan: Implications of Japan’s low economic growth for Australian exports’, Australian Commodities, vol. 6, no. 2 1999.

Chapter 6 - Japan’s economic woes and Australia’s prospects

[1]           Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile, International Accounts and Trade, Feature Article–Australia’s Merchandise Trade with Japan’, (March 1999) http://www.abs.gov.Australia/websitedbs/c311/BDE7ACE2081C70E6CA25677B00077C49 (30 November 2000). The US is Australia’s second most important trading partner, it takes around 19% of Australia’s total exports and supplies Australia with over 20% of its imports.

[2]           By 1990, Japanese tourists had eclipsed the number of New Zealand visitors who made up 18.9% of the market; Official Year Book of the Commonwealth of Australia, no. 75—1992, p. 389.

[3]           The official figures produced by the Australian Bureau of Statistics show the following levels of investment in Australia for 1989–90 in $ million: US—46,386; UK—46,092 and Japan—45,364, Official Year Book of the Commonwealth of Australia, no. 75—1992, p. 711.

[4]           DFAT, submission no. 32, pp. 64–5; NSW Government, submission no. 25, p. 10.

[5]           Barry Jones, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, pp. 690 and 695.

[6]           Trade Analysis Branch, Department of Foreign Affairs and Trade, June 1999, Exports of Primary and Manufactured Products, Australia 1996, Canberra, p. 12.

[7]           NSW Government, submission no. 25, p. 1; Market Information and Analysis Unit, Department of Foreign Affairs and Trade, Composition of Trade Australia, 1998, Canberra, p. 44; Trade Analysis Branch, Department of Foreign Affairs and Trade, Exports of Primary and Manufactured Products Australia, 1997, p. 7; Barry Jones, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, pp. 689–90; DFAT, submission no. 32, p. 33 (DFAT gave the figure of 19.5% of total exports for 1997 and 13% of total imports). Additional information supplied to the Committee by DFAT, 18 May 2000.

[8]           Market Information and Analysis Unit, Trade Development Branch, Department of Foreign Affairs and Trade, February 1999, Australian Basic Trade Statistics 1997–98.

[9]           Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan,

http://www.statistics.gov.Australia/w.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999) (page 2 of 15).

[10]         Greg Dodds, Austrade, Committee Hansard, 27 May 1999, p. 628; Colin Heseltine, DFAT, Committee Hansard, 15 February 1999, pp. 2–3; NSW Government, submission no. 25, p. 1.

[11]         Additional information supplied to the Committee by DFAT, 18 May 2000.

[12]         DFAT, submission no. 32, pp. 65–7; ABARE, submission no. 21, p. 10.

[13]         DFAT, submission no. 32, p. 65; Dr Terence Sheales, ABARE, Committee Hansard, 21 June 1999, p. 731.

[14]         Queensland Government, submission no. 18, p. 1; Dr Terence Sheales, ABARE, Committee Hansard, 21 June 1999, p. 731.

[15]         Fuyuki Kitahara, Japan Chamber of Commerce, Sydney Inc, Committee Hansard, 3 September 1999, p. 802.

[16]         ABARE, submission no. 21, p.10 and comments by Dr Sheales, ABARE, Committee Hansard, 21 June 1999, p. 732; NSW Government, submission no. 25, pp. 10 and 14.

[17]         Dr Terence Sheales, ABARE, Committee Hansard, 21 June 1999, p. 731.

[18]         Richard Pomfret, ‘Australian Experience with Exporting to Asia’, Seminar paper 96–01, Centre for International Economic Studies, University of Adelaide, January 1996, p. 9.

[19]         Dr Terence Sheales, ABARE, Committee Hansard, 21 June 1999, p. 731. See also Barry Jones, Department of Industry, Science and Resource, Committee Hansard, 28 May 1999, p. 690.

[20]         Commonwealth Department of Primary Industries and Energy, submission no. 31, p. 7.

[21]         Barry Jones, Department of Industry, Science and Resource, Committee Hansard, 28 May 1999, pp. 691–2.

[22]         DKR, Economic Report, vol. 3, no. 2, 15 February 2000, p. 2; Barry Jones, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 691.

[23]         Year Book, no. 77—1995, p. 774; no. 78—1996, p. 680; no. 79—1997, p. 707; no. 80—1998, p. 775; no. 81—1999, p. 745; no. 82—2000, p. 791.

[24]         The Australian Bureau of Statistics suppresses some detailed trade statistics for confidentiality reasons. The classification ‘confidential items’ in this table covers commodities such as sugar, rice, wheat and LNG.

[25]         Market Information and Analysis Unit, Department of Foreign Affairs and Trade, Composition of Trade Australia, 1998, June 1999, p. 203. The value of wool exported to Japan has declined sharply from $324,698 million in 1996, to $310,032 million in 1997 to $192,553 million in 1998.

[26]         Additional information supplied to the Committee by DFAT, 18 May 2000.

[27]         Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan,

http://www.statistics.gov.Australia/w.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999) (page 8 of 15).

[28]         Additional information supplied to the Committee by DFAT, 18 May 2000.

[29]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, p. 492.

[30]         See Denis Porter, NSW Minerals Council, Committee Hansard, 14 April 1999, p. 264.

[31]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, p. 492.

[32]         Karen Gilmour, DFAT, Committee Hansard, 15 February 1999, p. 7; Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, p. 265; Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan, http://www.statistics.gov.Australia/w.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999).

[33]         Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, pp. 267–8.

[34]         James F. Collins, policy adviser of the Steel Manufacturers Association, 48^th Annual Meeting of the American Institute for International Steel, 30 November 1999, in New Steel, January 2000, http://www.newsteel.com/news/NW990114.html (11 February 2000).

[35]         Ben Ready, ‘Coal prices forced down 5pc’, Canberra Times, 8 February 2000, Business, p. 13.

[36]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, p. 492.

[37]         Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, pp. 266–7.

[38]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, p. 492; Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, p. 268.

[39]         United States Energy Information Administration, May 1999,

http://www.eia.doe.gov/emeu/cabs/japan.html (16 February 2000); Katsuyoshi Ando, President JCOAL at 24^th ICCR Meeting, Wellington, 18 and 19 October 1999, JCOAL Topics, no. 43, November 1999, http://www.jcoal.or.jp/e/Topics_E43.html (9 February 2000).

[40]         Mr Porter supplied the figures of 60% for steaming coal and between 40 and 50% for coking coals. Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, p. 273.

[41]         MITI states that nuclear power accounts for 12% of Japan’s energy supply and 34% of electricity supply, MITI, ‘Energy in Japan’, (Overview), http://www.miti.go.jp/introduction-e/a231201e.html (16 February 2000). The United States Energy Information Administration, May 1999 states that ‘Of Japan’s total generation of electricity about 69% came from thermal (oil, gas and coal) plants, 20% from nuclear reactors, 10% from hydroelectric stations and 0.3% from geothermal, solar and wind’; United States Energy Information Administration, ‘Japan’, May 1999, http://www.eia.doe.gov/emeu/cabs/japan.html (16 February 2000). The Department of Primary Industries and Energy informed the Committee that Japan has undertaken to reduce its greenhouse emissions by 6 per cent from 1999 levels by 2008–12, Department of Primary Industries and Energy, submission no. 31, p. 23.

[42]         United States Energy Information Administration, May 1999; IEA, ‘Energy Policies of IEA Countries’, Japan, 1999, http://www.iea.org/new/releases/1999/japan.htm (16 February 2000); MITI, ‘Energy in Japan’, (Overview), http://www.miti.go.jp/introduction-e/a231201e.html (16 February 2000).

[43]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, p. 495. See also for example, ‘Cracks appear in nuke power policy’, Mainichi Daily News, 25 July 2000, http://www.mainichi.company.jp/english/news/news03.html  (26 July 2000).

[44]         Craig Burns, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 692.

[45]         United States Energy Information Administration, ‘Japan’, May 1999, http://www.eia.doe.gov/emeu/cabs/japan.html (16 February 2000); Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, pp. 494–5.

[46]         MITI, ‘Energy in Japan’, Overview, http://www.miti.go.jp/introduction-e/a231201e.html  (16 February 2000)

[47]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, p. 495.

[48]         Robert Cameron, ‘The Australian Coal Industry—Meeting the Challenges’, Fifth APEC Coal Flow Seminar, Yokohama, Japan, 4 February 1999, pp. 9–10.

[49]         See Senator Warwick Parer, Minister for Resources and Energy, Media Release, ‘Joint Australia-Japan Project to Develop Ultra Clean Coal’, 2 June 1998, DPIE 98/322P.

[50]         See for example Craig Burns, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 693.

[51]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 6 April 1999, p. 493.

[52]         Denis Porter, New South Wales, Minerals Council, Committee Hansard, 14 April 1999, p. 264.

[53]         Dr Mark Beeson, Committee Hansard, 16 April 1999, p. 476. See Chapter 7, paras 7.70–7.77 for more information on how sale prices are negotiated between Japanese customers and Australian commodities producers.

[54]         Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, p. 275.

[55]         Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, p. 265.

[56]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, p. 505.

[57]         Commonwealth Year Book, no.  7—1995, p. 774; no. 78—1996, p. 680; no. 79—1997, p. 707; no. 80—1998, p. 775; no. 81—1999, p. 745; no. 82—2000, p. 791. See also Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan, http://www.statistics.gov.Australia/w.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999).

[58]         Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan, http://www.statistics.gov.Australia/w.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999) (page 9 of 15). Hamersley told the Committee that Australia’s market share in Japan has, over the last five years, recovered from roughly 48% to 53% to 54%, Philip Mitchell, General Manager, Strategic Marketing, Hamersley Iron Pty Ltd, Committee Hansard, 24 February 1999, p. 102.

[59]         Additional information supplied to the Committee by DFAT, 18 May 2000.

[60]         Philip Mitchell, General Manager, Strategic Marketing, Hamersley Iron Pty Ltd, Committee Hansard, 24 February 1999, p. 91.

[61]         Prices were down 11% for fine ore, 10.2% for lump ore and 7.5% for lump premium, AME Mineral Economics, Monthly Outlooks, Iron Ore, February 1999.

[62]         Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, p. 268.

[63]         Nippon Steel, Business, Steel, http://www.nsc.co.jp/english/business/steel.html (15 February 2000). See also Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February 1999, p. 160.

[64]         Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February 1999, p. 160.

[65]         Philip Mitchell, General Manager, Strategic Marketing, Hamersley Iron Pty Ltd, Committee Hansard, 24 February 1999, p. 99 and Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February 1999, p. 160.

[66]         See chapter 7, paras 7.70–7.75 for information on recent developments in the relationship between Australian iron ore producers and their Japanese customers.

[67]         Karen Gilmour, DFAT, Committee Hansard, 15 February 1999, p. 7.

[68]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, pp. 489–90. The US Geological Survey, Mineral Commodities Summaries, January 1999, provided the following statistics for raw steel production in Japan—1997: 105 million tonnes and in 1998: 95.1 million tonnes. DKR Economic Report, vol. 3, no. 2, 15 February 2000, p. 12.

[69]         Metals News, 15 July 1999, http://www.manufacturing.net/magazine/purchasing/archives/1999/pur...071mnews.ht (2 February 2000). See chapter 8 for a more detailed explanation about trade tensions arising from Japan’s exports of steel.

[70]         North Ltd, Media Release, 29 February 2000, http://www.north.com.au/news-releases/rel-2000022900.html (7 March 2000); Financial Review, 4–5 March 2000, p. 12.

[71]         BHP, Press Release, 29 March 2000, http://www.bhp.com.au/press/bhp_press/data/20000329a.htm (30 March 2000). See also Ian Howarth, ‘Strong Asian demand for iron ore steels Rio’s quarter’, Australian Financial Review, 29–30 April 2000, Business, p. 15.

[72]         Philip Mitchell, General Manager, Strategic Marketing, Hamersley Iron Pty Ltd, Committee Hansard, 24 February 1999, p. 92.

[73]         Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February 1999, p. 160. See also Department of the Treasury, submission no. 63, p. 28.

[74]         Philip Mitchell, General Manager, Strategic Marketing, Hamersley Iron Pty Ltd, Committee Hansard, 24 February 1999, pp. 91 and 102.

[75]         For example, see comments by Mr Simon Wensley, Hamersley Iron Pty Ltd, Committee Hansard, 24 February 1999, p. 89.

[76]         Market Information and Analysis Unit, Department of Foreign Affairs and Trade, Composition of Trade, 1998, June 1999, pp. 13, 32.

[77]         Additional information supplied to the Committee by DFAT, 18 May 2000.

[78]         Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan,

http://www.statistics.gov.au/w.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999) (page 11 of 15). Additional information supplied to the Committee by DFAT, 18 May 2000.

[79]         ABARE, submission no. 21, p. 21.

[80]         Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan,

http://www.statistics.gov.au/w.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999) (page 8 of 15). The term confidentiality as explained in footnote 20 states that the Australian Bureau of Statistics suppresses some detailed trade statistics for confidentiality reasons and included commodities such as sugar, rice, wheat and LNG.

[81]         Woodside, ‘Business and Finance News’, 25 August 1999,

http:/www.woodside.competition.Australia/business/News.cfm?ID=19990920115240 (18 February 2000). DFAT showed that, in 1999, Australia’s share of Japan’s LNG imports was 14.6%, additional information supplied to the Committee by DFAT, 18 May 2000. Erica Smyth, told the Committee that LNG generates about $3 billion worth of annual export income. Committee Hansard, 25 February 1999, p. 205.

[82]         The six equal participants in the North West Shelf Venture are: Woodside Energy Ltd (operator); BHP Petroleum (North West Shelf) Pty Ltd; BP Developments Australia Pty Ltd; Chevron Asiastic Limited; Japan Australia LNG (MIMI) Pty Ltd; and Shell Development (Australia) Proprietary Limited. See also Erica Smyth, Woodside Energy Ltd, Committee Hansard, 25 February 1999, p. 211 and Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February 1999, p. 161.

[83]         Erica Smyth, Woodside Energy Ltd, Committee Hansard, 25 February 1999, p. 207.

[84]         Erica Smyth, Woodside Energy Ltd, Committee Hansard, 25 February 1999, p. 205.

[85]         Woodside, ‘Business and Finance News’, 25 August 1999, http://www.woodside.competition.au/business/News.cfm?ID=19990920115240 (18 February 2000).

[86]         Woodside, ‘Business and Finance News’, 25 August 1999, http://www.woodside.competition.au/business/News.cfm?ID=19990920115240 (18 February 2000).

[87]         Barry Jones, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 692.

[88]         Erica Smyth, Woodside, Energy Ltd, Committee Hansard, 25 February 1999, p. 206.

[89]         Erica Smyth, Woodside, Energy Ltd, Committee Hansard, 25 February 1999, pp. 206–7.

[90]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, pp. 505–6.

[91]         The Ministry of Agriculture, Forestry and Fisheries, Annual Report on Japanese Agriculture FY1998 (Summary) (Provisional translation).

[92]         Keiji Ohga, World Food Security and Agricultural Trade, paper presented in the OECD Workshop on Emerging Issues in Agriculture, Paris, October 1998.

[93]         The Report submitted to the Prime Minister by the Investigative Council on Basic Problems Concerning Food, Agriculture, and Rural Areas, September 1998, http://www.maff.go.jp/ekihon/Report.html (3 May 1999). See also Keiji Ohga, World Food Security and Agricultural Trade, paper presented in the OECD Workshop on Emerging Issues in Agriculture, Paris, October 1998.

[94]         Year Book Australia, no. 77—1995, p.774, no. 78—1996, p. 680. Market Information and Analysis Unit, Department of Foreign Affairs and Trade, Composition of Trade, 1998, June 1999, p. 203. Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan, http://www.statistics.gov.Australia/with.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999) (page 10 of 15).

[95]         Dr Peter Barnard, Meat and Livestock Australia, Committee Hansard, 15 April 1999, pp. 378 and 383.

[96]         Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan, http://www.statistics.gov.Australia/with.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999) (page 10 of 15).

[97]         Meat and Livestock Australia, Committee Hansard, 15 April 1999, pp. 378 and 381; and Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan, http://www.statistics.gov.Australia/with.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen 30 November 1999 (page 10 of 15).

[98]         Dr Peter Barnard, Meat and Livestock Australia, Committee Hansard, 15 April 1999, p. 379. The Meat and Livestock Association is a new company and supersedes the Australian Meat and Livestock Corporation and the Meat Research Corporation.

[99]         Additional information supplied to the Committee by DFAT, 18 May 2000.

[100]       Dr Peter Barnard, Meat and Livestock Australia, Committee Hansard, 15 April 1999, p. 380.

[101]       Dr Peter Barnard, Meat and Livestock Australia, Committee Hansard, 15 April 1999, p. 385.

[102]       Dr Peter Barnard, Meat and Livestock Australia, Committee Hansard, 15 April 1999, p. 384.

[103]       Stephen Martyn, Australian Meat Council, Committee Hansard, 15 April 1999, p. 381.

[104]       See Embassy of Japan to the United States, ‘ “Rice Tariffication” Q&A’ http://www.embjapan.org/sf/rice.htm (25 February 2000); David Askew, Committee Hansard, 17 May 1999, p. 544; Denis Gregory, ‘Ricegrowers boil at Tariff’, Sun-Herald, 2 May 1999, p. 71. See also Margaret Smee, submission no. 1, pp. 1–2.

[105]       Murata Yasuo, ‘Working Around Rice Imports’, Japan Quarterly, April-June 1999, p. 10; Shinichi Shogenji, ‘Towards a Balanced Policy Framework for Food, Agriculture and Rural Areas: The case of Japan’, http:www2.hasaii.education/apfat/PP09/iep_p09.htm (19 August 1999); Daily Summary of Japanese press, 14 December 1998.

[106]       In 1998–99, the US supplied Japan with 48% of its rice imports and Thailand with 21%, Australia had a 16% share and China a 11% share. FAS Outline, ‘Foreign Countries’ Policies and Programs’, http://www.fas.usda.gov/grain/circular/1999/99-02/dtricks.htm (24 February 2000). See also Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 531.

[107]       Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, pp. 531–2.

[108]       Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 2.

[109]       Dr Aurelia George Mulgan, Committee Hansard, 28 May 1999, p. 680; Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, pp. 531–2.

[110]       Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 532.

[111]       Colin Heseltine, DFAT, Committee Hansard, 15 February 1999, p. 12.

[112]       Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 532.

[113]       The Hon Tim Fischer, MP, Deputy Prime Minister and Minister for Trade, Media Release, ‘WTO Rice Tarrification Response’, 19 March 1999 and WTO Summary Report of the Meeting held 12–26 March 1999, G/AG/R/18. The level of tariff has been calculated by comparing the value of imports in the Uruguay Round base period, 1986–88, with the value of the local product over the same period. At the time of the base period being set, Japan was only importing lower quality broken rice, particularly from Thailand, for industrial use.

[114]       Country Information, Japan, ‘Australia’s Rice Exports Continue to Perform Strongly’, Article from Asialine, June 1999, http://www.dfat.gov.au/geo/na/japan/articles_asialine_rice.html (28 February 2000).

[115]       Aurelia George Mulgan Committee Hansard, 28 May 1999, p. 684; Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 539; Dr Dennis Gebbie, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, p. 664.

[116]       Bernard Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 540.

[117]       Warren Males, Queensland Sugar Corporation, Committee Hansard, 16 April 1999, p. 454.

[118]       Additional information supplied to the Committee by DFAT, 18 May 2000.

[119]       Warren Males, Queensland Sugar Corporation, Committee Hansard, 16 April 1999, p. 454.

[120]       Warren Males, Queensland Sugar Corporation, Committee Hansard, 16 April 1999, p. 456.

[121]       Warren Males, Queensland Sugar Corporation, Committee Hansard, 16 April 1999, p. 454.

[122]       Warren Males, Queensland Sugar Corporation, Committee Hansard, 16 April 1999, p. 467.

[123]       Philippe Ingram, Department of State Development, Queensland, Committee Hansard, 16 April 1999, p. 412.

[124]       Year Book no. 79—1997, p. 707; no. 80—1998, p. 775; no. 81—1999, p. 745 and no. 82—2000, p.791. Note principal market information is confidential—see footnotes 20 and 78.

[125]       Simon Burgess, Australian Wheat Board, Committee Hansard, 19 February 1999, pp. 76, 83; Dr Terence Sheales, ABARE, Committee Hansard, 21 June 1999, p. 732; Australian Wheat Board Ltd, submission no. 27, p. 6.

[126]       Simon Burgess and Andrew McConville, Australian Wheat Board Ltd, Committee Hansard, 19 February 1999, pp. 75–6, 81; Grains Council of Australia, submission no. 24, p. 1.

[127]       Simon Burgess, Australian Wheat Board Ltd, Committee Hansard, 19 February 1999, pp. 80–1.

[128]       Dr Terence Sheales, ABARE, Committee Hansard, 21 June 1999, p. 732.

[129]       Simon Burgess, Australian Wheat Board Ltd, Committee Hansard, 19 February 1999, p. 85.

[130]       Andrew McConville, Australian Wheat Board Ltd, Committee Hansard, 19 February 1999, pp. 86–87.

[131]       Simon Burgess, Australian Wheat Board Ltd, Committee Hansard, 19 February 1999, pp. 77–8, 80–81.

[132]       Andrew McConville, Australian Wheat Board Ltd, Committee Hansard, 19 February 1999, p. 82 and the Grains Council of Australia, submission no. 24, p. 2.

[133]       Andrew McConville, Australian Wheat Board Ltd, Committee Hansard, 19 February 1999, pp. 83–4.

[134]       Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 507.

[135]       Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 508.

[136]       Market Information and Analysis Unit, Department of Foreign Affairs & Trade, Composition of Trade Australia, 1998, Canberra, p, 30. The value of Australian wool exported in 1998 was $2.872 billion with China taking $591 million and Italy $539 million.

[137]       Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan, http://www.statistics.gov.Australia/with.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999) (page 10 of 15). The ABS gave the unusually high figure of 79% for Australia’s share of Japan’s wool imports in volume terms for 1997–98. According to Woolmark, a decade ago wool had about a 17% share of Australia’s exports. By 1997–98 it had fallen to fifth place with a 6% share. Australian exports to Japan totalled about $259 million in 1997–98 compared with 1.29 billion 10 years ago. Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 508. DFAT stated that Australia’s wool share fell in 1998, but it was still almost 48% of the Japanese market. See Karen Gilmour, DFAT Committee Hansard, 15 February 1999, p. 21.

[138]       Australian Bureau of Statistics, ‘Australia Now—A Statistical Profile’, International Accounts and Trade, Feature Article—Australia’s merchandise trade with Japan, http://www.statistics.gov.Australia/with.../bde7ace2081c70e6ca25677b00077c49?OpenDocumen (30 November 1999) (page 10 0f 15) and Mr Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 508.

[139]       Dr Terence Sheales, ABARE, Committee Hansard, 21 June 1999, p. 732.

[140]       Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 508.

[141]       Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 508.

[142]       Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, pp. 508–9.

[143]       Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 509.

[144]       Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 512.

[145]       Cathy Bolt, ‘Japan wool buyer bales out from Australia’, Financial Review, 4 May 1999.

[146]       Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 511.

[147]       Christopher Wilcox, The Woolmark Company, Committee Hansard, 17 May 1999, p. 517.

[148]       Dr Dennis Gebbie, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, pp. 659–60.

[149]       For a definition of ‘multifunctionality of agriculture’ see, MAFF Update, No. 309, 14 May 1999, http://www.maff.go.jp/mud/309.html (17 March 2000).

[150]       MAFF Update, No. 309, 14 May 1999, http://www.maff.go.jp/mud/309.html (17 March 2000).

[151]       Dr Dennis Gebbie, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, p. 661.

[152]       Statement by H.E. Mr Yohei Kono, Minister for Foreign Affairs, Ministerial Conference, 1 December 1999, WTO WT/MIN(99)/ST/26.

[153]       Richard Pomfret, ‘Australian Experience with Exporting to Asia’, Seminar paper 96–01, Centre for International Economic Studies, University of Adelaide, January 1996, pp. 11–13.

[154]       Department of Foreign Affairs and Trade, Trade in Services, 1995–96, p. 5.

[155]       Market Information and Analysis Unit, Department of Foreign Affairs and Trade, Trade in Services 1996–1997, p. 6; Trade in Services, 1997–98, pp. 9, 13.

[156]       Additional information supplied to the Committee by DFAT, 18 May 2000.

[157]       Australian Tourist Commission, submission no. 48, p. 1.

[158]       Year Book 2000, no. 82, p. 589; Australian Tourist Commission, submission no. 48, p. 1; Margaret Hudson, Australian Tourist Commission, Committee Hansard, 14 April 1999, p. 251; Junzo Yamaguchi, Japan Travel Bureau Australian Pty Ltd, Committee Hansard, 3 September 1999, p. 813.

[159]       Junzo Yamaguchi, Japan Travel Bureau, Australia Pty Ltd, Committee Hansard, 3 September 1999, p. 813.

[160]       Australian Bureau of Statistics, No. 3401.0—Overseas Arrivals and Departures, Australia, December 1999; Australian Tourist Commission, Short Term Overseas Visitor Arrivals, Year Ending December 1999, http://www.atc.net.au/intell/data/99end.htm (18 April 2000). In 1999, there were 707,463 short-term visitors from Japan and 728,798 from New Zealand.

[161]       Australian Bureau of Statistics, No. 3401.0—Overseas Arrivals and Departures, Australia, December 1999.

[162]       Karen Gilmour, DFAT, Committee Hansard, 15 February 1999, p. 34.

[163]       Junzo Yamaguchi, Japan Travel Bureau Australia Pty Ltd, Committee Hansard, 3 September 1999, p. 813.

[164]       Jeffrey Riethmuller, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 703.

[165]       Damien Wallace, Qantas Airways, Committee Hansard, 14 April 1999, pp. 233–6.

[166]       Australian Tourist Commission, submission no. 48, pp. 4–5.

[167]       Janet Tomi, DFAT, Committee Hansard, 15 February 1999, p. 8; Margaret Hudson, Australian Tourist Commission, Committee Hansard, 14 April 1999, p. 258.

[168]       Junzo Yamaguchi, Japan Travel Bureau Australia Pty Ltd, Committee Hansard, 3 September 1999, p. 815.

[169]       Margaret Hudson, Australian Tourist Commission, Committee Hansard, 14 April 1999, p. 250 and Australian Tourist Commission, submission no. 48, p. 4.

[170]       Terence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 51.

[171]       Australian Tourist Commission, submission no. 48, pp. 3–4.

[172]       Alan Loke, Qantas Airways, Committee Hansard, 14 April 1999, p. 247 and Margaret Hudson, Australian Tourist Commission, Committee Hansard, 14 April 1999, p. 254.

[173]       Margaret Hudson, Australian Tourist Commission, Committee Hansard, 14 April 1999, p. 254.

[174]       See comments by Yoshihiro Tabe, Japan Local Government Centre, Committee Hansard, 14 April 1999, p. 285.

[175]       Junzo Yamaguchi, Japan Travel Bureau Australia Pty Ltd, Committee Hansard, 3 September 1999, pp. 814–15.

[176]       Australian Tourist Commission, submission no. 48, p. 4.

[177]       Junzo Yamaguchi, Japan Travel Bureau Australia Pty Ltd, Committee Hansard, 3 September 1999, p. 815.

[178]       Barry Jones, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 690.

[179]       Australian Tourist Commission,  submission no. 48, pp. 2–3.

[180]       Margaret Hudson, Australian Tourist Commission, Committee Hansard, 14 April 1999, p. 257.

[181]       Junzo Yamaguchi, Japan Travel Bureau Australia Pty Ltd, Committee Hansard, 3 September 1999, p. 815 and see comments by Jeffrey Riethmuller, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 703.

[182]       Junzo Yamaguchi, Japan Travel Bureau Australia, Pty Ltd, Committee Hansard, 3 September 1999, p. 816.

[183]       Yoshihiro Tabe, Japan Local Government Centre, Committee Hansard, 14 April 1999, p. 286.

[184]       Damien Wallace, Qantas Airways, Committee Hansard, 14 April 1999, p. 233. Qantas told the Committee: ‘In 1998, it, in conjunction with Australian tourism interests, provided educational trips to Australia for over 1,000 Japanese travel agency staff and media representatives. Qantas will provide approximately 1,500 further educational visits for agents and media during calendar 1999. We believe that the provision of a hands-on look at the Australian product is a very valuable tool to put in the hands of those in a position to sway the consumer’s choice of destination.’

[185]       Junzo Yamaguchi, Japan Travel Bureau Australia Pty Ltd, Committee Hansard, 3 September 1999, pp. 814–15;

[186]       Margaret Hudson, Australian Tourist Commission, Committee Hansard, 14 April 1999, p. 251.

[187]       Barry Jones, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 690.

[188]       Robert Horne, Department of Education, Training and Youth Affairs, Committee Hansard, 28 May 1999, p. 707.

[189]       Robert Horne, Department of Education, Training and Youth Affairs, Committee Hansard, 28 May 1999, p. 707.

[190]       Professor Yoshio Sugimoto, Committee Hansard, 17 May 1999, pp. 520–1.

[191]       David Askew, Committee Hansard, 17 May 1999, p. 555.

[192]       Professor Yoshio Sugimoto, Committee Hansard, 17 May 1999, p. 525; Professor William Coaldrake, Committee Hansard, 17 May 1999, pp. 579–81; See also comments by Professor Alan Rix, Committee Hansard, 16 April 1999, pp. 452–3.

[193]       Dr Carolyn Stevens, Committee Hansard, 17 May 1999, p. 572.

[194]       Robert Horne, Department of Education, Training and Youth Affair, Committee Hansard, 28 May 1999, pp. 707–8.

[195]       Rebecca Cross, Department of Education, Training and Youth Affairs, Committee Hansard, 28 May 1999, p. 711.

[196]       Rebecca Cross, Department of Education, Training and Youth Affairs, Committee Hansard, 28 May 1999, p. 711.

[197]       Professor Yoshio Sugimoto, Committee Hansard, 17 May 1999, p. 525. He told the Committee that ‘anecdotal evidence suggests that some private language institutions are not providing good quality education because of the relatively poor quality of teachers’.

[198]       Sara Cowan, Department of Education, Training and Youth Affairs, Committee Hansard, 28 May 1999, p. 709.

Chapter 7 - Recession, reform and opportunities

[1]           ‘Restoration in Progress’, A survey of business in Japan, The Economist, vol. 35, no. 8147, November 1999, p. 19.

[2]           For example see: Queensland Government, submission no. 18, p. 3; Hiroshi Nakano, Japan Chamber of Commerce and Industry, Sydney Inc, Committee Hansard, 3 September 1999, pp. 789–80.

[3]           ‘Restoration in Progress’, A survey of business in Japan, The Economist, vol. 35, no. 8147, November 1999, p. 19.

[4]           John Longworth, ‘Understanding our customers: Hidden socio-political realities in Japan and China which influence trade with Australia’, Australasian Agribusiness Review, vol. 1, no. 1, May 1993,
pp. 25–6.

[5]           John Sainsbury, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, p. 662.

[6]           JETRO, Japanese Market Report No. 30—Regulations & Practice—Cheese, March 1999, p. 5.

[7]           Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 635.

[8]           Hiroshi Nakano, JETRO, Committee Hansard, 3 September 1999, pp. 795–6, 798.

[9]           JETRO, Japanese Market Report No. 30—Regulations & Practice—Cheese, March 1999, p. 14.

[10]         Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, pp. 533–4. The NSW Department of Agriculture research station at Yanco developed the ‘opus’ rice variety with assistance from Ricegrowers Cooperative Ltd. Ricegrowers has supported the rice research and development activities of NSW Agriculture for more than 15 years, and it has contributed in excess of $15 million to rice research over the period, pp. 534 and 542.

[11]         JETRO, Japanese Market Report—Regulations & Practices—Fresh Vegetables, No. 31, March 1999, p. 17.

[12]         John Sainsbury, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, p. 665.

[13]         JETRO, Japanese Market Report—Regulations & Practices—Jam & Canned Fruit, No. 32, March 1999, p. 17.

[14]         See for example JETRO, Japanese Market Report—Regulations & Practices—Jam & Canned Fruit, No. 32, March 1999, p. 17.

[15]         Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, pp. 534, 537.

[16]         Paul Riethmuller, ‘Major Trends Affecting Australia’s Agricultural Industries: Have they Taken a Turn for the Worse?’, Economic Issues No. 3, November 1998, p. 13.

[17]         Dr Peter Barnard, Meat and Livestock Association, Australia, Committee Hansard, 15 April 1999, p. 378.

[18]         Stephen Martyn, Australian Meat Council, Committee Hansard, 15 April 1999, p. 381.

[19]         Stephen Martyn, Australian Meat Council, Committee Hansard, 15 April 1999, p. 383.

[20]         Stephen Martyn, Australian Meat Council, Committee Hansard, 15 April 1999, p. 390.

[21]         Stephen Martyn, Australian Meat Council, and Samantha Jamieson, Meat and Livestock Australia, Committee Hansard, 15 April 1999, pp. 379–80.

[22]         Gary Humphries, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 53.

[23]         Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 536.

[24]         Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 541.

[25]         Christopher Pokarier, Committee Hansard, 16 April 1999, p. 434.

[26]         Professor William Coaldrake, Committee Hansard, 17 May 1999, p. 573.

[27]         Professor William Coaldrake, Committee Hansard, 17 May 1999, p. 573.

[28]         Terence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 46.

[29]         Terence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 46.

[30]         Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 535.

[31]         Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 536.

[32]         Submission of the Australian Government to the Japanese Government on the Deregulation Promotion Program, see Appendix 4, p. 9.

[33]         JETRO, Japanese Market Report—Regulations & Practices—Beer, No. 23, December 1998, p. 15.

[34]         Christopher Pokarier, Committee Hansard, 16 April 1999, p. 423; Hiroshi Nakano, Japan External Trade Organisation, Sydney Inc, Committee Hansard, 3 September 1999, p. 788.

[35]         Janet Tomi, DFAT, Committee Hansard, 15 February 1999, p. 8.

[36]         Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February, pp. 160, 164.

[37]         See statement by Dr Craig Freedman, Committee Hansard, 15 April 1999, pp. 345–6.

[38]         Queensland Government, submission no. 18, p. 37.

[39]         Dr Carolyn Stevens, Committee Hansard, 17 May 1999, p. 570.

[40]         Hiroshi Nakano, Japan External Trade Organisation, Committee Hansard, 3 September 1999, p. 788. See also BT Funds Management Limited, Newsletter, Cherry Picking in Japan, February, 2000.

[41]         Professor Peter Drysdale, Committee Hansard, 23 August 1999, p. 767.

[42]         For example see Professor David Allen, Committee Hansard, 25 February 1999, p. 181; Dr Craig Freedman, Committee Hansard, 15 April 1999, p. 350; Perce Butterworth, New South Wales Department of State and Regional Development, Committee Hansard, 15 April 1999, p. 394.

[43]         Mr Tadashi Nakamae, President, Nakamae International Economic Research, Presentation for the OECD Business and Industry Policy Forum on ‘Realising the Potential of the Service Economy: Facilitating Growth, Innovation and Competition’, Paris, 28 September 1999, p. 2.

[44]         JETRO, The Changing Service Industries of Japan, Tokyo, 2000, p. 2.

[45]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 641.

[46]         Organisation for Economic Co-operation and Development, Regulatory Reform in Japan, OECD, Paris, 1999, p. 15.

[47]         DFAT, submission no. 32, p. 64.

[48]         See Articles 2 and 3, ‘Agreement on the Application of Sanitary and Phytosanitary Measures’ in Agreement Establishing the World Trade Organization.

[49]         John Sainsbury and Dennis Gebbie, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, p. 665.

[50]         Media Release, Judith Troeth, Parliamentary Secretary to the Minister for Agriculture, Fisheries and Forestry, AFFA99/62T, 16 June 1999.

[51]         John Sainsbury, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, p. 665.

[52]         Department of Foreign Affairs and Trade, Japan, ‘Ripe Future for Mandarin Exports to Japan’, 15 July 1999. There are a number of examples of further breakthroughs in quarantine regulations. See Media Release, Mark Vaile, Trade Minister, ‘Citrus juice exports to Japan set to grow’, 26 August 1999.

[53]         John Sainsbury and Dr Dennis Gebbie, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, p. 665.

[54]         Dr Dennis Gebbie, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, p. 659.

[55]         Dr Dennis Gebbie, Department of Agriculture, Fisheries and Forestry, Committee Hansard, 28 May 1999, p. 660.

[56]         Jamie Anderson, ‘Australia’s Market Access Agenda Towards Japan’, Pacific Economic Papers, no. 291, Australia-Japan Research Centre, May 1999, p. 11.

[57]         Submission of the Australian Government to the Japanese Government on the Deregulation Promotion Program, 1998, http://www.dfat.gov.au/geo/na/japan/981106_japan_deregulate.pdf (8 February 1999).

[58]         Graham Huxley, Australia Japan Housing Ltd, Committee Hansard, 15 April 1999, p. 361. See also statement by Philip Henry, Department of State, Queensland, Committee Hansard, 16 April 1999, p. 419.

[59]         Submission of the Australian Government to the Japanese Government on the Deregulation Promotion Program.

[60]         Graham Huxley, Japan Australia Housing Ltd, Committee Hansard, 15 April 1999, pp. 359–60.

[61]         Graham Huxley, Australia Japan Housing Ltd, Committee Hansard, 15 April 1999, p. 366.

[62]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, pp. 637–8.

[63]         Graham Huxley, Australia Japan Housing Ltd, Committee Hansard, 15 April 1999, pp. 360, 375. See also Australia Japan Housing Ltd, submission no. 6, p. 3.

[64]         Graham Huxley, Australia Japan Housing Ltd, Committee Hansard, 15 April 1999, p. 376. Also see comments on p. 368.

[65]         Austrade, submission no. 35, p. 9. See also Jonathan Coppel and Martine Durand, ‘Trends in Market Openness’, Economics Department Working Paper no. 221, Organisation for Economic Co-operation and Development, August 1999, p. 5.

[66]         Commission of the European Communities, List of EU Deregulation Proposals for Japan, 12 October 1998, p. 8.

[67]         Dr Mark Beeson, Committee Hansard, 16 April 1999, pp. 482–3.

[68]         DFAT, submission no. 32, pp. 21–3.

[69]         Professor Teresa Morris-Suzuki, Committee Hansard, 24 May 1999, p. 606.

[70]         For example see Australian Department of Trade, ‘Persistence, Performance and Price’, Report of the Japanese Market Access Promotion Mission to Australia, November 1984, AGPS, Canberra, 1985, pp.16–17.

[71]         JETRO, Japanese Market Report—Regulations & Practices—Cheese, No. 30, March 1999, p. 9; see also advice offered in JETRO Reports, no. 10, p, 13; no. 15, p. 23; no. 23, p.19.

[72]         See Paul Riethmuller, ‘Major Trends Affecting Australia’s Agricultural Industries: Have they Taken a Turn for the Worse?, Economic Issues no. 3, Department of Economics, the University of Queensland, November 1998, pp. 14—15.

[73]         Paul Riethmuller, ‘Major Trends Affecting Australia’s Agricultural Industries: Have they Taken a Turn for the Worse?’, Economic Issues No. 3, November 1998, pp. 14–15.

[74]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, p. 491.

[75]         Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, p. 272.

[76]         Denis Porter, New South Wales Minerals Council, Committee Hansard, 14 April 1999, p. 274.

[77]         Dr Christopher Rawlings, QCT Resources Ltd, Committee Hansard, 16 April 1999, pp. 490–1.

[78]         See David Uren, Weekend Australian, 29–30 July 2000, p. 42; Andrew Cornell, Tokyo, Australian Financial Review, 19 July 2000, p. 15, 24 July 2000, p. 1 and 13, 27 July 2000, p. 11, 1 August 2000, p. 18; Stewart Oldfield, Australian Financial Review, 4 August 2000, p. 46; Jane Counsel, Sydney Morning Herald, 4 August 2000.

[79]         Ian Howarth and Andrew Cornell, Tokyo, ‘Cartel wars: Rio targets Japanese in North battle’, Australian Financial Review, 26 July 2000, p. 1.

[80]         Andrew Cornell wrote an interesting article on the nature of Japan’s steel cartel, ‘The family nature of Japan’s steel cartel’, Australian Financial Review, 31 July 2000, p. 8.

[81]         Erica Smyth, Woodside Energy Ltd, Committee Hansard, 25 February 1999, p. 207.

[82]         Dr Mark Beeson, Committee Hansard, 16 April 1999, p. 487.

[83]         Queensland Government, submission no. 18, p. 34.

[84]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 629.

[85]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 632.

[86]         JETRO explained that the Large-Scale Retail Store Law was amended in January 1992 to ease many of the regulations that made it difficult to open large stores. The law has been amended on successive occasions but as of June 2000 will be replaced by a newly enacted Large-Scale Retail Store Location Law. It stated ‘Of all the various deregulation policies currently being implemented, it has been among the first sectors to undergo significant change and to have a significant impact on the lives of ordinary people.’ JETRO, The Changing Service Industries of Japan’, JETRO, 2000, p. 15.

[87]         Hiroshi Nakano, Japan External Trade Organisation, Sydney Inc, Committee Hansard, 3 September 1999, p. 788.

[88]         Austrade, submission no. 35, p. 63.

[89]         Austrade, submission no. 35, p. 63.

[90]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 633.

[91]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 629.

[92]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 634.

[93]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 630.

[94]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 639.

[95]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 632.

[96]         Milton Bazley, Ricegrowers Co-operative Ltd, Committee Hansard, 17 May 1999, p. 537.

[97]         Terence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 46.

[98]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 636.

[99]         Shinji Sato, English Translation of Minister Sato’s Speech at the Foreign Correspondents’ Club of Japan, 16 June 1997, http://www.miti.go.jp/press-e/f300001e.html (24 April 2000).

[100]       Commission of the European Communities, List of EU Deregulation Proposals for Japan, 12 October 1998, p. 6.

[101]       Hiroshi Nakano, Japan External Trade Organisation, Sydney, Ltd, Committee Hansard, 3 September 1999, p. 789.

[102]       Austrade, submission no. 35, p. 9.

[103]       Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, pp. 629–630.

[104]       JETRO White Paper on Foreign Direct Investment (1999), p. 60. See also Paper ‘Prospects for the Japanese Economy’, The Japan Research Institute Ltd, Economics Department, July 1999, p. 9.

[105]       Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 638.

[106]       AsiaNow, 5 November 1999, vol. 25, no. 44.

[107]       JETRO, JETRO White Paper on Foreign Direct Investment 2000, p. 63.

[108]       Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 639.

[109]       Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 639.

[110]       Professor David Allen, Committee Hansard, 25 February 1999, p. 181; Dr Craig Freedman, Committee Hansard, 15 April 1999, pp. 345–6; Perce Butterworth, New South Wales Department of State and Regional Development, Committee Hansard, pp. 394–95.

[111]       Christopher Pokarier, Committee Hansard, 16 April 1999, pp. 423, 432.

[112]       Peter Drysdale, Toshi Naito, Ray Trewin and Dominic Wilson, ‘The Changing Climate for Foreign Direct Investment into Japan’, Pacific Economic Papers, no. 293, Australia-Japan Research Centre, July 1999, p. 37.

[113]       Peter Drysdale, Toshi Naito, Ray Trewin and Dominic Wilson, ‘The Changing Climate for Foreign Direct Investment into Japan’, Pacific Economic Paper, no. 293, Australia-Japan Research Centre, July 1999, p. 39.

[114]       Paul Riethmuller, ‘Major Trends Affecting Australia’s Agricultural Industries: Have they Taken a Turn for the Worse?’, Economic Issues No. 3, November 1998, p. 14.

[115]       Paul Riethmuller, ‘Major Trends Affecting Australia’s Agricultural Industries: Have They Taken a Turn for the Worse?’, Economic Issues No. 3, November 1998, p. 14; and Terence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 46.

[116]       Manuel Panagiotopoulos, Committee Hansard, 14 April 1999, pp. 215, 219.

[117]       Manuel Panagiotopoulos, Japanese and Australian Trade 1988–1997, Manuel Panagiotopoulos, AJEI Communications, Sydney, p. 19.

[118]       See chapter 5, para 5.55.

[119]       Owen Clare, Senior Equities Adviser, Saw James Capel Ltd, Committee Hansard, 24 February 1999, p. 150.

[120]       Kenneth Court, Committee Hansard, 24 February 1999, p. 144.

[121]       Kenneth Court, Committee Hansard, 24 February 1999, pp. 138, 140.

[122]       Craig Burns, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 693.

[123]       Hiroshi Nakano, Japan External Trade Organisation, Sydney Inc, Committee Hansard, 3 September 1999, p. 795. See also comments by Manuel Panagiotopoulos who acknowledged that value adding to Australian commodities in Australia was not happening because ‘it is not economically viable for corporations to do that here’. He suggested Australians need to ask the right questions to find out why this is not the case, Committee Hansard, 14 April 1999, p. 220.

[124]       Dr Craig Freedman, Committee Hansard, 15 April 1999, p. 354.

[125]       Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February 1999, p. 166.

[126]       Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 634.

[127]       Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February 1999, p. 166.

[128]       Dr Terence Sheales, Committee Hansard, 21 June 1999, p. 741.

[129]       Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, pp. 634–5.

[130]       Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February 1999, pp. 161–2.

[131]       Robert Cameron ‘The Australian Coal Industry—Meeting the Challenges’, Fifth APEC Coal Flow Seminar, Yokohama, Japan, 4 February 1999.

[132]       Dr Craig Freedman, Committee Hansard, 15 April 1999, p. 352.

[133]       Peter Hartcher, Committee Hansard, 15 April 1999, pp. 327.

[134]       Peter Hartcher, Committee Hansard, 15 April 1999, p. 328.

[135]       Peter Hartcher, Committee Hansard, 15 April 1999, p. 329.

[136]       Christopher Pokarier, Committee Hansard, 16 April 1999, p. 437.

[137]       Hiroshi Nakano, Japan External Trade Organisation, Sydney Inc, Committee Hansard, 3 September 1999, p. 798.

[138]       Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, pp. 636, 642.

[139]       Ian McLean, Australia Japan Housing Ltd, Committee Hansard, 15 April 1999, p. 365.

[140]       Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 635.

[141]       See Whitehorse City Council, submission no. 2, p. 1; Hastings Council, submission no. 4, pp. 1–2; Lismore City Council, submission no. 11, p. 2.

[142]       Professor Alan Rix, Committee Hansard, 16 April 1999, p. 449.

[143]       Peter Drysdale and Robert Farrell, ‘Perspectives on Japanese Investment, Employment and Management in Australia’, Pacific Economic Papers no. 290, Australia-Japan Research Centre, April 1999, pp. 42–3. FDI is the acronym for foreign direct investment.

[144]       Yukio Satoh, ‘From Distant Countries to Partners: The Japan-Australia Relationship’, Working Paper no.  312, November 1997, Strategic and Defence Studies Centre, 1997, p. 3. See also Purnendra Jain and Donna Weeks, ‘Banking on the “Constructive Partnership” ’, Current Affairs Bulletin, vol. 69, No. 9, February 1993, pp. 14–16.

[145]       For example see Austrade, submission no. 35, pp. 7–8, 16. See also, Peter Drysdale and Robert Farrell, ‘Perspectives on Japanese Investment, Employment and Management in Australia’, Pacific Economic Papers no. 290, Australia-Japan Research Centre, April 1999, pp. 42–3; Manuel Panagiotopoulos told the Committee that ‘A large proportion of investment in real estate has since left due to the financial troubles of the parent companies in Japan. However, Japanese investment in Australia is well established and will remain for the long term’, Committee Hansard, 14 April 1999, p. 215.

[146]       Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 641.

[147]       Hiroshi Nakano, Japan External Trade Organisation, Committee Hansard, 3 September 1999, p. 797.

[148]       See Peter Drysdale and Robert Farrell, ‘Perspectives on Japanese Investment, Employment and Management in Australia’, Pacific Economic Papers no. 290, Australia-Japan Research Centre, April 1999, p. 2.

[149]       Manuel Panagiotopoulos, Committee Hansard, 14 April 1999, p. 223.

[150]       Quote taken from CEDA, Japanese Trading Companies: Their Role in Australia’s Economic Development, a study undertaken by INSTATE Pty Ltd, Sydney, 1997, p. 70.

[151]       CEDA, Japanese Trading Companies: Their Role in Australia’s Economic Development, a study undertaken by INSTATE Pty Ltd, Sydney, 1997, p. 69. See also comments by Owen Clare, Senior Equities Advisor, Saw James Capel Ltd, Committee Hansard, 24 February 1999, p. 156.

[152]       Terence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 38.

[153]       See Purnendra Jain and Donna Weeks, ‘Banking on the “Constructive Partnership” ’, Current Affairs Bulletin, vol. 69, no. 9, February 1993, pp. 14–16 for views on this matter of Japanese investment.

[154]       NSW Government, submission no. 25, p. 4.

[155]       For example see David Askew, Committee Hansard, 17 May 1999, p. 552.

[156]       Commonwealth of Australia, In the National Interest: Australia’s Foreign and Trade Policy White Paper, 1997, p. 78.

[157]       Terence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 51. See also views of Philip Henry, Department of State Development, Queensland, Committee Hansard, 16 April 1999, p. 410.

Chapter 8 - Japan’s Relations with its leading trading partners

[1]           Figures taken from Speech given by Consul-General Shimanouchi, March 1999, ‘Economic Crisis in Asia and What Japan is Doing’, http://www.embjapan.org/miami/speech4.html (3 April 2000)

[2]           DFAT, submission no. 32, p. 7; Austrade, submission no. 35, p. 5.

[3]           DFAT, submission no. 32, p. 5.

[4]           Hisamitsu Arai, Vice-Minister for International Affairs, MITI, ‘A Scenario for Dynamic Recovery from the Asian Economic Crisis’, 21 August 1998, http://www.miti.go.jp/report-e/g311002e.html (19 November 1998).

[5]           Stephen Thomsen, ‘Southeast Asia: the Role of Foreign Direct Investment Policies in Development’, Working Papers on International Investment, 1999/1, OECD, 1999, pp. 4–5, 12.

[6]           Hisamitsu Arai, Vice-Minister for International Affairs, MITI, ‘A Scenario for Dynamic Recovery from the Asian Economic Crisis’, Thailand-Japanese Association and JETRO, Bangkok, 21 August 1998.

[7]           Edward J. Lincoln, ‘Japan’s Rapidly Emerging Strategy Toward Asia’, Technical Paper No. 58, Research Programme on Globilisation and Regionalisation, OECD, April 1992, pp. 9, 27–8.

[8]           ‘Japan and Asia: developing ties’, OECD Observer,1 August 1999.

[9]           JETRO, JETRO White Paper on International Trade, 1999, p. 26. See also evidence presented by Colin Haseltine, DFAT, Committee Hansard, 15 February 1999, pp. 23–4.

[10]         Haruo Shimada, Professor of Economics, Keio University, ‘The Prospect and Challenges of Japanese Economy, Politics, Society After the Financial Crisis in an International Perspective’, 1999, http://www.ndu.education/inss/symposia/pc99/shimada.html (3 April 2000).

[11]         Marcus Noland, Sherman Robinson and Zhi Wang, International Economics Policy Briefs, ‘The Depressing News from Asia’, September 1998. See also Transcript: Deputy Secretary of the Treasury, Lawrence H. Summers 2/26 Q&A at Japan National Press CLUB, 26 February 1999.

[12]         Professor Peter Drysdale, Committee Hansard, 23 August 1999, p. 765.

[13]         Haruo Shimada, Professor of Economics, Keio University, ‘The Prospect and Challenges of Japanese Economy, Politics, Society After the Financial Crisis in an International Perspective’, 1999, http://www.ndu.education/inss/symposia/pc99/shimada.html (3 April 2000)

[14]         Policy speech by Prime Minister Keizo Obuchi to the 144^th Session of the Diet, 27 November 1998, http://www.kantei.go.jp/foreign/souri/981204policy-speech.html (19 October 1999). See also Takashi Imai, Chairman of Keidanren and Kezai Koho Center, ‘Japanese and Asian Economies Recovering Together’, Occasional Paper Series no. 8, Keizai Koho Center, January 1999.

[15]         USIA, Washington File, Transcript: ‘Treasury’s Summers Jan. 21 Pres Briefing in Tokyo’, 21 January 2000, http://www.usia.gov/cgi-bin/washfile/display.pl?p=/products/washfile/.../newsitem.shtm (25 January 2000)

[16]         USIA, Washington File, ‘Text: Statement of the G-7 Finance Ministers Tokyo Meeting’, 24 January 2000, http://www.usia.gov/cgi-bin/washfile/display.pl?p=/products/washfile/.../newsitem.shtm (25 January 2000).

[17]         Colin Haseltine, DFAT, Committee Hansard, 15 February 1999, pp. 23–4.

[18]         For example see, Consul-General Shimanouchi, ‘Economic Crisis in Asia and What Japan is Doing’, May 1999 and Policy speech by Prime Minister Keizo Obuchi to the 144^th Session of the Diet, 27 November 1998 http://www.kantei.go.jp/foreign/souri/981204policy-speech.html (19 October 1999).

[19]         United Nations Conference on Trade and Development, Report, 1998, Overview, p. vi.

[20]         Address by Japanese Prime Minister Keizo Obuchi to the 143rd session of the Diet, 7 August 1998, http://www.infojapan.org/announce/announce/1998/8/807-0.html (25 April 2000). See also Consul-General Shimanouchi, ‘Economic Crisis in Asia and What Japan is Doing’, May 1999; Sei Nakai, Senior Deputy Director-General of the International Bureau, Ministry of Finance, ‘Efforts Toward Recovery of the Japanese Economy and Japan’s Response to the Asian Currency Crisis’, The National Investment Company Service Association, 1999.

[21]         Address by Japanese Prime Minister Keizo Obuchi to the 143rd session of the Diet, 7 August 1998, http://www.infojapan.org/announce/announce/1998/8/807-0.html (25 April 2000).

[22]         The Ministry of Foreign Affairs of Japan, Joint Statement of the Meeting of Heads of State/Government of the Member States of ASEAN and the Prime Minister of Japan, Kuala Lumpur, 16 December 1997. The ASEAN member states also thanked Japan in 1999 for its continued assistance. See Joint Ministerial Statement of the Third ASEAN Finance Ministers Meeting, Hanoi, 20 March 1999.

[23]         Comprehensive Economic Measures, Ministry of Foreign Affairs of Japan, 24 April 1998, http://www.mofa.go.jp/policy/economy/measure98/measures.html (15 February 1999).

[24]         Sei Nakai, Senior Deputy Director-General of the International Bureau, Ministry of Finance, Japan, ‘Efforts Toward Recovery of the Japanese Economy and Japan’s Response to the Asian Currency Crisis’, the National Investment Service Association, http://www.us-japan.org/JapanBoston/nakai.htm (3 April 2000).

[25]         See statements by Michel Camdessus, Managing Director of the International Monetary Fund, ‘World Economic Outlook: Implications of Reform for Japan and the IMF’, at the International Finance Seminar, 18 May 1999. Economic Planning Agency, ‘Follow-up and Future Schedule for Implementation of the Emergency Economic Package: Pursuing the Revitalization of the Japanese Economy’, 23 April 1999.

[26]         Speech by Mr Kiichi Miyazawa at the APEC Finance Ministers Meeting, Malaysia, 15 May 1999, http://www.mof.go.jp/english/if/e1b068.htm (4 April 2000).

[27]         Speech by Mr Kiichi Miyazawa at the APEC Finance Ministers Meeting, Malaysia, 15 May 1999, http://www.mof.go.jp/english/if/e1b068.htm (4 April 2000).

[28]         Colin Heseltine, DFAT, Committee Hansard, 15 February 1999, p. 3; DFAT, submission no. 32, p. 51.

[29]         Sei Nakai, Senior Director-General of the International Bureau, Ministry of Finance, Japan, ‘Efforts Toward Recovery of the Japanese Economy and Japan’s Response to the Asian Currency Crisis’, New Delhi, http://www.us-japan.org/JapanBoston/nakai.htm (3 April 2000).

[30]         Michel Camdessus, Managing Director of the International Monetary Fund, transcript of a Press Briefing at the Japan Press Club, 18 May 1999.

[31]         DFAT, submission no. 32, p. 51.

[32]         Professor David Reid, Committee Hansard, 25 February 1999, p. 192.

[33]         Dr Wendy Smith, Committee Hansard, 17 May 1999, pp. 557–8.

[34]         Keidanren, ‘For Asia’s Economic Renewal: A Proposal by Japan’s business community’, 13 March 2000, http://www.keidanren.or.pj/english/policy/2000/007/proposal.html (31 March 2000).

[35]         United States Information Agency, Transcript: Deputy USTR Fisher—16 June Worldnet Program on APEC (U.S. to continue pushing trade liberalization at APEC), 17 June 1999.

[36]         See United States Information Agency, Transcript: Deputy USTR Fisher—16 June Worldnet Program on APEC (U.S. to continue pushing trade liberalization at APEC), 17 June 1999; Remarks of Ambassador David L. Aaron, Under Secretary of Commerce for International Trade before the American Chamber of Commerce of Japan, Tokyo American Club, 29 July 1999.

[37]         DFAT, submission no. 32, p. 65.

[38]         DFAT, submission no. 32, p. 65.

[39]         Colin Heseltine, DFAT, Committee Hansard, 15 February 1999, p. 1; DFAT submission no. 32, p. 51. Mr Ian Macfarlane, Governor of the Reserve Bank of Australia, also observed that Australia, apart from Japan, was the only country to contribute to all three financial assistance packages. He stated further ‘the Australian authorities were able to play a useful role because they had been building an understanding of regional developments for many years, in part reflecting the strong trade links with the region, but also a more general interest on the part of business and academic communities’. Speech to the Asia Pacific Forex Congress, Sydney, 27 November 1998, http://www.rba.gov.au/speech/sp_gov_271198.html (18 December 1998).

[40]         Basic Treaty of Friendship and Co-operation between Australia and Japan, signed in Tokyo 16 June 1976 and entered into force on 21 August 1977.

[41]         See Remarks of Ambassador David L. Aaron, Under Secretary of Commerce for International Trade before the American Chamber of Commerce of Japan, Tokyo American Club, 29 July 1999.

[42]         Professor Teresa Morris-Suzuki, Committee Hansard, 24 May 1999, pp. 601–2. See also views of David Askew, Committee Hansard, 17 May 1999, p. 545.

[43]         Professor Teresa Morris-Suzuki, Committee Hansard, 24 May 1999, p. 605.

[44]         Professor Teresa Morris-Suzuki, Committee Hansard, 24 May 1999, p. 601.

[45]         Peter Drysdale, ‘Where is the Japan Economy Heading’, Summary of APSEM Public seminar presentation, 19 May 1999.

[46]         Professor Peter Drysdale, Committee Hansard, 23 August 1999, pp. 767–8; and Professor Peter Drysdale, ‘Where is the Japanese economy headed?’, summary of APSEM Seminar Presentation, 19 May 1999.

[47]         Professor Peter Drysdale, Committee Hansard, 23 August 1999, p. 768.

[48]         Rodolfo C. Severino, Secretary-General of the Association of Southeast Asian Nations, at the regional conference on ‘Common Currency for East Asia: Dream or Reality’, Penang, 5 August 1999, http://www.asean.or/id/secgen/sg_eac.htm (2 August 2000); Press Release, ‘ASEAN to Promote Comprehensive Development, http://www.asean.or.id/amm/amm33pre1.htm (26 July 2000.

[49]         The Ministry of Foreign Affairs of Japan, ‘Joint statement on East Asia Cooperation’, 28 November 1999; Financial Review, article by Bruce Cheeseman, ‘Mahathir finally wins push for East Asia trade zone’, 27 July and editorial, 28 July 2000; Manuel F. Montes, Kevin F.F. Quigley and Donald E. Weatherbee, ‘Growing Pains: ASEAN’s Economic and Political Challenges’, Asia Society Publications, December 1997, http://www.asiasociety.org/publications/asean_challengers.html (2 August 2000). See also Press Conference by the Press secretary, 11 December 1998, ‘Significance of the goals of the ASEAN Summit Meeting’, http://www.mofa.go.jp/announce/press/1998/12/1211.html (28 July 2000); Joint Communique of the Thirty Third ASEAN Ministerial Meeting, Bangkok, Thailand, 24–25 July 2000. See Report of the Senate Foreign Affairs, Defence and Trade References Committee, Australia and APEC: A Review of Asia Pacific Economic Cooperation, July 2000, paras 9.77–9.84.

[50]         See Report of the Senate Foreign Affairs, Defence and Trade References Committee, Australia and APEC: A Review of Asia Pacific Economic Cooperation, July 2000, para 9.79.

[51]         Yukio Satoh, ‘Japan-Australia Relations: Emerging Partnership’, Speech of the Japanese Ambassador at the Foreign Correspondents’ Association in Sydney, 1 November 1996.

[52]         For example see Address by Japanese Prime Minister Keizo Obuchi to the 143rd session of the Diet, 7 August 1998, http://www.infojapan.org/announce/announce/1998/8/807-0.html (25 April 2000). See also Policy speech by Prime Minister Keizo Obuchi to the 144^th Session of the Diet, 27 November 1998.

[53]         Peter Hartcher, Committee Hansard, 15 April 1999, p. 340.

[54]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 633. Austrade told the Committee that Japan’s trading surplus has increased by 23% and although Japan’s exports are down, its imports are down further. So Japan is losing on exports, but infuriating the Americans and other trading partners by buying much less from them.

[55]         Deficit figures in Bruce Odessey, USIA Staff writer, ‘1998 US Trade Deficit Sets Record; Trend Continues in ’99’, http://usinfo.state.gov/topical/econ/new1.htm (7 April 2000).;See for example, International Monetary Fund, Press Conference by Michael Mussa on the Interim Assessment of the World Economic Outlook and International Capital Markets, 21 December 1998, http://www.imf.int/external/np/tr/1998/TR981221.htm (18 November 1999); and Marcus Noland, Sherman Robinson and Zhi Wang, International Economics Policy Briefs, ‘The Depressing News from Asia’, September 1998 and MITI, White Paper on International Trade 1999, Chapter 2, ‘The Changing Japanese Trade Structure and Recent Trade Trends’. Also and Christopher Pokarier, submission no. 10, p. 8.

[56]         MITI, White Paper on International Trade 1999, Chapter 2, ‘The Changing Japanese Trade Structure and Recent Trade Trends’.

[57]         Bruce Odessey, USIA Staff writer, ‘1998 US Trade Deficit Sets Record; Trend Continues in ’99’, http://usinfo.state.gov/topical/econ/new1.htm (7 April 2000).

[58]         Text: Deputy USTR Richard Fisher on US-Japan Trade, Testimony of Ambassador Richard Fisher Deputy United States Trade Representative, House Ways & Means Trade Subcommittee Executive Session, 15 July 1998.

[59]         Colin Heseltine, DFAT, Committee Hansard, 15 February 1999, p. 2.

[60]         Text: Barshefsky to House Subcommittee on Steel Imports—Testimony of Ambassador Charlene Barshefsky, United States Trade Representative, to Trade Subcommittee of the House Committee on Ways and Means, 25 February 1999.

[61]         Philip Mitchell, Hamersley Iron Ltd, Committee Hansard, 24 February 1999, p. 90. Hamersley told the Committee that Japanese exports into the US in 1998 went up by 260% from roughly 2½ million tonnes to 8 million tonnes and exports into South-East Asia fell by about 24%.

[62]         Text: Barshefsky to House Subcommittee on Steel Imports—Testimony of Ambassador Charlene Barshefsky, United States Trade Representative, to Trade Subcommittee of the House Committee on Ways and Means, 25 February 1999.

[63]         Ambassador Charlene Barshefsky, United States Trade Representative, Tokyo American Center, Tokyo, Japan 13 May 1999, http:/www.usia.gov/regional/ea/apec/barsh513.htm (23 July 1999).

[64]         Ambassador Charlene Barshefsky, United States Trade Representative, Tokyo American Center, Tokyo, Japan 13 May 1999, http:/www.usia.gov/regional/ea/apec/barsh513.htm (23 July 1999).

[65]         Secretary of Commerce for International Trade before the American Chamber of Commerce of Japan, Tokyo American Club, 29 July 1999.

[66]         USIA, Washington file, ‘Text: Trade Administration News Release on Japanese Construction’, 14 January 2000, http:www.usia.gov/cgi-bin/washfile/display.pl?p=/products/washfile/.../newsitem.shtm (25 January 2000).

[67]         Robert G. Lees, ‘Report from Seattle’, Secretary-General’s Letter, in Pacific Journal, February 2000.

[68]         WTO Trade Policy Review of Japan, 19 January 1998, http://www.tradepolicy.com/_tradenews/0000000d.htm (21 February 2000).

[69]         Jamie Anderson, ‘Australia’s Market Access Agenda Towards Japan’, Pacific Economic Paper no. 291, May 1999, p. 12.

[70]         See Jamie Anderson, ‘Australia’s Market Access Agenda Towards Japan’, Pacific Economic Paper no. 291, May 1999, p. 113 and Julia Lowell, ‘Free Trade Champion? Australian Views of the US Trade Crusade against Japan’, Pacific Economic Paper no. 295, September 1999, pp. 15–16.

[71]         Timothy Marney, Treasury Department of Western Australia, Committee Hansard, 25 February 1999, p. 161. See also Julia Lowell, ‘Free Trade Champion? Australian Views of the US Trade Crusade against Japan’, Pacific Economic Paper no. 295, September 1999, p. 15.

[72]         C. Fred Bergsten, ‘The New Asian Challenge’, Institute For International Economies Working Paper
00-4, March 2000, http://iie.com/CATALOG/WP/2000/00-4.htm (8 June 2000)

[73]         See for example David Askew, Committee Hansard, 17 May 1999, p. 545.

[74]         Christopher Pokarier, Committee Hansard, 16 April 1999, p. 436.

[75]         USIA, Washington File, ‘Text: Ambassador Foley Remarks to Foreign Correspondents Club of Japan’, 18 January 2000, http://www.usia.gov/cgi-bin/washfile/display.pl?p=/products/washfile /.../newsitem.shtm (25 January 2000). See also Professor Tessa Morris-Suzuki, submission no. 3, p. 5; and the views of Peter Hartcher, Committee Hansard, 15 April 1999, p. 340.

[76]         Michael Borrus, Stephen S. Cohen and John Zysman, ‘The American Perspective on the Liberalization of Trade and Investment’, The Policy Study Group on China-Japan-US Cooperation in Asia-Pacific Regional Trade and Investment Liberalization, Interim Report, 1998, http://socrates.berkeley.education/~briewww/pubs/wp/135.htm (12 January 2000).

[77]         Dr Richard Rigby, DFAT, Committee Hansard, 15 February 1999, p. 13; DFAT, submission no. 32, p. 52.

[78]         See Report of the Senate Foreign Affairs, Defence and Trade References Committee, Australia and APEC: A Review of Asia Pacific Economic Cooperation, July 2000, paras 2.149 and 2.150.

[79]         Yoichi Funabashi and Peter Drysdale, Report on a Roundtable discussion ‘Australia-Japan New Initiative for APEC 1999’, July 1999.

Chapter 9 - Understanding and partnership

[1]           See Terence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 51.

[2]           Leon Wolff, Committee Hansard, 28 May 1999, p. 647.

[3]           Professor William Coaldrake, Committee Hansard, 17 May 1999, p. 582.

[4]           Christopher Pokarier, submission no. 10, p. 15.

[5]           Leon Wolff, Committee Hansard, 28 May 1999, p. 646.

[6]           Leon Wolff, Committee Hansard, 28 May 1999, p. 647.

[7]           Christopher Pokarier, Committee Hansard, 16 April 1999, pp. 429–430.

[8]           Professor Peter Drysdale, Committee Hansard, 23 August 1999, p. 763.

[9]           Terence White, Australia-Japan Foundation, Committee Hansard, 19 February 1999, p. 47.

[10]         Colin Heseltine, DFAT, Committee Hansard, 15 February 1999, p. 4.

[11]         DFAT, submission no. 32, p. 6.

[12]         Profesor Alan Rix, Committee Hansard, 16 April 1999, p. 447.

[13]         Katsumi Kakazu, Japan Foundation, Sydney Language Centre, Committee Hansard, 3 September 1999, p. 822 and David Askew, Committee Hansard, 17 May 1999, p. 552.

[14]         Katsumi Kakazu, Japan Foundation, Sydney Language Centre, Committee Hansard, p. 822.

[15]         Robert Horne, Department of Education, Training and Youth Affairs, Committee Hansard, 28 May 1999, p. 715.

[16]         Paper prepared by Katsumi Kakazu, Manager, the Japan Foundation Sydney Language Centre, p. 2.

[17]         Katsumi Kakazu, Japan Foundation, Sydney Language Centre, Committee Hansard, 3 September 1999, p. 825.

[18]         Professor Wiliam Coaldrake, Committee Hansard, 17 May 1999, p. 574.

[19]         Professor William Coaldrake, Committee Hansard, 17 May 1999, p. 574.

[20]         Professor William Coaldrake, Committee Hansard, 17 May 1999, p. 574.

[21]         Katsumi Kakazu, Japan Foundation, Sydney Language Centre, Committee Hansard, 3 September 1999, pp. 825, 827.

[22]         Dr Aurelia George Mulgan, Committee Hansard, 28 May 1999, p. 688.

[23]         Dr Aurelia George Mulgan, Committee Hansard, 28 May 1999, p. 687.

[24]         Professor William Coaldrake, Committee Hansard, 17 May 1999, p. 575.

[25]         Professor Yoshio Sugimoto, Committee Hansard, 17 May 1999, p. 521.

[26]         Professor Yoshio Sugimoto, Committee Hansard, 17 May 1999, p. 528.

[27]         Leon Wolff, Committee Hansard, 28 May 1999, pp. 647–648. See also Professor Gavan McCormack, Committee Hansard, 24 May 1999, p. 625. He stressed it was important to have a small cadre of highly trained and highly competent people who basically function in Japanese just like Japanese people do and that Australia had few such qualified people.

[28]         Peter Drysdale, Nancy Viviani, Akio Watanabe and Ippei Yamazawa, The Australia-Japan Relationship: Towards the Year 2000, Australia-Japan Research Centre and Japan Center for Economic Research, canberra and Tokyo, September 1989, p. 12.

[29]         David Longworth, ‘Understanding our Customers: Hidden socio-political realities in Japan and China which influence trade with Australia, Australasian Agribusiness Review, vol. 1 no. 1, May 1993, p. 27.

[30]         Dr Craig Freedman, Committee Hansard, 15 April 1999, p. 351.

[31]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 642.

[32]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 639.

[33]         Barry Jones, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 694.

[34]         Barry Jones, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 694.

[35]         Barry Jones, Department of Industry, Science and Resources, Committee Hansard, 28 May 1999, p. 695.

[36]         David McGeachie, New South Wales Department of State and Regional Development, Committee Hansard, 15 April 1999, p. 397.

[37]         Australian National Audit Office, Coordination of Export Development and Promotion Activities Across Commonwealth Agencies, Audit Report no. 39, 1999–2000, Performance Audit, Canberra 2000, pp. 13, 16.

[38]         Christopher Pokarier, submission no. 10, p. 13.

[39]         Christopher Pokarier, Committee Hansard, 16 April 1999, p. 437.

[40]         Christopher Pokarier, submission no. 10, p. 14.

[41]         Richard Pomfret, ‘Australian Experience with Exporting to Asia’, Seminar Paper 96–0, Department of Economics and Centre for International studies, University of Adelaide, January 1996, p. 18.

[42]         Hiroshi Nakano, JETRO, Committee Hansard, 3 September 1999, p. 790.

[43]         Hiroshi Nakano, JETRO, Committee Hansard, 3 September 1999, p. 793.

[44]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, pp. 636–7.

[45]         Professor Alan Rix, Committee Hansard, 16 April 1999, p. 448.

[46]         Gregory Dodds, Austrade, Committee Hansard, 27 May 1999, p. 635.

[47]         Larry Crump, Committee Hansard, 16 April 1999, p. 475.

[48]         See comments by Manuel Panagiotopoulos, Committee Hansard, 14 April 1999, p. 228.

[49]         See chapter 7, para 7.80.