Bina on Iraq

Ulhas Joglekar uvj at vsnl.com
Mon Feb 24 06:20:58 PST 2003


DRR wrote:


> > As for Japan, Japan needs the US power in the Pacific to counter China
>>and
> > N.Korea.


> Why?

Japan lacks nuclear weapons.


>Japan needs access to Chinese labor and South Korea factories, and China
> and S. Korea need access to Japanese technology and capital. They need
>each
> other more than they need the US.

"The US export market has become a priority for Asia as the region fights worries of a global slowdown, deflation, and the competitive threat of China."

"The US trade deficit for 2002 hit a record $435.2 billion, data showed on Thursday. The trade deficit with China topped $103 billion, and with Japan it was $70 billion."

"Asia includes the five largest holders of foreign reserves in the world -- Japan, China, Taiwan, Korea and Hong Kong."

"At the end of 2002, the five held $1.15 trillion of foreign currency reserve assets, an increase of over $200 billion dollars in one year. The net position of the European Central Bank and euro zone central banks was about $252 billion at end 2002."

Ulhas



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