TOKYO MEDIA REACTION - GAZA DONOR CONFERENCE

UNCLAS TOKYO 000489 SIPDIS STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR, EAP/J, EAP/P, PM; USTR FOR PUBLIC AFFAIRS OFFICE; TREASURY FOR OASIA/IMI; SECDEF FOR OASD/PA; CP BUTLER OKINAWA FOR AREA FIELD OFFICE; PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR E.O. 12958: N/A TAGS: OIIP KMDR KPAO JA SUBJECT: TOKYO MEDIA REACTION - GAZA DONOR CONFERENCE AND U.S. FINANCIAL CRISIS ¶1. LEAD STORIES: Most national dailies on Wednesday morning led with the arrest of a top secretary to DPJ President Ozawa on suspicion of receiving illegal corporate donations from scandal-ridden general contractor Nishimatsu Construction Co. in violation of the Political Funds Control Law. ¶2. "Secretary Clinton Travels to Middle East" The liberal Mainichi editorialized (3/4): "When she was First Lady, Secretary of State Clinton, who is said to be pro-Israel, repeatedly made remarks supporting the independence of Palestine. The Secretary appears to be fully aware of the importance of arbitration by the U.S. It is hoped that her trip to the Middle East will lay the foundation for peaceful coexistence between Israel and Palestine." ¶3. "U.S. Must Employ All Tools Available" The liberal Tokyo Shimbun argued in an editorial (3/4): "The Obama administration should be held responsible for minimizing the impact of the worldwide financial crisis, which was triggered by the U.S.... Housing prices in the U.S. continue to be falling, while non- performing assets held by U.S. banks are also on the increase because of the economic slowdown. The share price of the Bank of America has also plummeted. The USG is being called upon to do its utmost to mitigate market and consumer anxiety." ¶4. "U.S. Should Not Repeat Japan's Mistakes" The liberal Asahi insisted (3/4): "When will the world be able to see an end to the ongoing difficulty? An answer depends on whether the U.S can overcome the financial turmoil. The USG now appears to be following suit the trial and error that Japan went through in the 1990s to deal with its own banking turbulence.... What is important for the Obama administration is to persuade the American people and to take thorough measures swiftly, starting with a rigorous examination of bank assets." ZUMWALT