Claude Picher (Business columnist, La Presse, Canada)
I have read with great interest the text of Prof. Miyao. It is rather short but includes three strong ideas (which illustrates brilliantly the great ability of Mr. Miyao to be intellectually concise and very clear).
The first one is restating the strong arguments he made over lunch with us in regards to his view on asset deflation which, I am sure, was well received by participants at the OECD conference.
In the second point, he expresses very vigorously his disagreement with the American economist Clyde Prestowitz on the future of Japan. I believe that Mr. Miyao and his colleague, Takatoshi Ito, are right one hundred times over. I would add: they are very polite. I have read the article in the Wall Street Journal. This Prestowitz is such a rare pretentious and egocentric individual. He should have been told, with reason, just to mind his own business.
Finally, Mr. Miyao deplores the low representation of Japan in major international events. It is one of his major concerns, as we have noticed over lunch with him. His numbers in the report clearly demonstrate his point of view. It is a good idea to use the OECD conference to outline this point.
(The original French text has been translated into English by Mr. Marc Beliveau of the Tokyo office of the Quebec government)