A semigovernmental organization for international economic exchanges has proposed formation of a study group involving Japan, the United States and European Union to work out regulatory measures to deal with the global financial crisis.
Policy proposals for solidifying Japan-U.S. relations, whose release was timed to coincide with the inauguration of the new U.S. administration, also call for renewed initiatives by the two governments to restart the long-stalled Doha Round of multilateral trade negotiations under the World Trade Organization.
The lengthy advisory report, titled "New Challenges, New Opportunities for New Administrations: A Vision for the U.S.-Japan Relationship," was prepared by the Japan Economic Foundation, an affiliate of the Ministry of Economy, Trade and Industry, in collaboration with Dewey & LeBoeuf LLP, a major law firm based in Washington.