Basic HTML Version
TRADE WARS
(Continued from page 4)
The economic linkage between
Japan and the Common Market is
destined to grow, especially as both
experience difficulties in their rela–
t ions with th e United Sta tes.
Jacques Delor, president of the Eu–
ropean Commission, recent ly re–
marked that the U.S. can no longer
be expeded to serve as the locomo–
t ive for the world's economy.
" It
is
clear that Japan and Europe must
take up the slack," he added.
Dr. W. Dekker, president of
Philips, the European electronics
gian t , told the
Mainichi Daily
News
that "global cooperation will
be of interest to both regions"- re–
ferring to Japan and Europe. "That
means that 1 would like to see
much more Japanese investment in
Europe.... In my opinion, Japan is
now beginning a new phase of in–
ternational izat ion."
Budding cooperation with- and
competition from- the Japanese,
moreover, is accelerating calls by
experts in Europe for the continent
to complete its long-stalled plans
for economic unity.
A European Community Com–
mission "White Paper" last June
set out a detailed timetable to
achieve a full economic union of
the 12 EC states by 1992.
The pressure of both American
and Japanese competition, reports
the
Mainichi Daily News,
" will
create an enhanced awareness of
the urgent need for a Community
approach in Europe ... [to imple–
ment] the decisions set out in the
White Paper."
Watch for the economic axis be–
tween Tokyo and Brussels (EC
headquarters) to accelerate in the
months and years ahead. Watch
also as tbe
yen
and tbe
deutsche
mark - and
eventually the EC's
ECU (European Currency Unit)–
replace the
do/lar
as tbe kingpin of
world t rade.
Commission President Delor, in
his interview with the
Mainichi
Daily News,
looked well into the
fu ture when he remarked that " the
EC Commission will strive, step by
step, to develop the. role of the
ECU to transform it progressively
into an international currency, the
same as tbe yen."
28
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Wit h America retreating into
economic isolation to its own
hurt , watch Europe and Japan as–
sume, for a short while in this
end-time age, center stage global
attention.
Trade conflicts will spill over
into the strategic sphere. Demands
will increase in Washington to cut
military links to both Western Eu–
rope and Northeastern Asia/Japan.
This wi ll force both regions to do
far more in tbeir own defense, an
ominous consequence for U.S. se–
curity.
The world is indeed heading for
significant geopolitical realig n–
ments.
o
Th•
PLAIN TRUTH