2013/06/30

物言う株主 企業価値向上へ対話の道探れ

The Yomiuri Shimbun June 29, 2013
Firms, shareholders must pursue dialogue to raise corporate value
物言う株主 企業価値向上へ対話の道探れ(6月28日付・読売社説)

Activist shareholders, including foreign funds that apply pressure on corporate management, have made their presence felt at recent shareholders meetings for the first time in a long time.
 企業経営に圧力をかける海外ファンドら「物言う株主」が、久しぶりに存在感を示した。

Through their resurgence, Japanese firms face a heavy challenge regarding how to improve corporate value through management reform.
 経営改革によって、企業価値をいかに向上させるか。経営陣は重い課題を突きつけられたと指摘できる。

The annual wave of general shareholders meetings of companies with business terms that ended in March has passed its peak. Activist shareholders were at center stage.
 今年3月期決算企業の株主総会がピークを越えた。焦点は「物言う株主」の動向だった。

At a meeting of Seibu Holdings Inc., its largest shareholder, Cerberus Capital Management LP, argued against management policy and proposed eight director candidates of its own. But the U.S. fund failed to gain majority approval for its proposal as all the candidates recommended by Seibu were elected to the board of directors.
 西武ホールディングスでは、筆頭株主である米ファンドのサーベラスが経営方針に異を唱え、独自の取締役候補を提案した。しかし、多数の賛成を得られず、会社提案の取締役が選任された。

Before the shareholders meeting, Cerberus had pressed for reform of Seibu’s management through such moves as a takeover bid. Seibu argued against the Cerberus reform plan, leading to deepened confrontation with the U.S. fund. But Seibu appears to have managed to block the Cerberus offensive for the moment.
 サーベラスは、株主総会前に株式公開買い付け(TOB)も仕掛けるなど経営改革を迫った。西武は反論し、対立が深まったが、攻勢をひとまず退けたといえる。

Nevertheless, Seibu’s reform is still pending as it seeks to be relisted. The company must tackle that difficult challenge while relations with its largest shareholder go unrepaired.
 ただし、再上場を目指す西武の改革は途上である。筆頭株主との関係が修復できないまま、難題に取り組まざるをえない。

Questions to answer

Sony Corp. had been asked by a U.S. fund, one of its major shareholders, to spin off its movie and music business and list the new entity on the stock market. But Sony took a wary stance toward dividing up its businesses, arguing that synergistic effects can be expected with the manufacturing of TV sets and other businesses.
 ソニーは、大株主の米ファンドから映画・音楽事業の分離と上場を求められたものの、テレビ事業などとの相乗効果が見込めるとして分離に慎重だった。

At its shareholders meeting, however, Sony was pressed on the separation issue by other shareholders. As a result, Sony announced a plan to study the demand. Improving earning capacity through reconstruction of its main line of business, including production of TV sets, has now become an important task for the Sony management.
 株主総会では、他の株主からも分離問題を追及され、この要求を検討していく方針を表明した。テレビなどの主力事業を立て直し、収益力を向上させることが重要な経営課題となった。

Stable shareholders, including banks and business customers, account for a majority of shareholders in Japanese firms, so management often lacks a perspective of paying attention to shareholders. Japanese companies tend to put a low priority on earnings power and returning profits to shareholders.
 日本の企業では、銀行や取引先など安定株主が多数を占め、株主の声に耳を傾ける意識に乏しい経営陣が多い。収益力や株主への利益還元が物足りない面もある。

More parties heard from

Abenomics, the economic policy pursued by the administration of Prime Minister Shinzo Abe, has drawn fresh global attention to the Japanese economy. As a result, the ratio of foreign holders of Japanese equities reached a record high of about 30 percent as of the end of March.
 安倍政権の経済政策「アベノミクス」によって日本経済が注目された効果で、外国人株主の日本株保有比率が3月末に過去最高の約3割に達した。

In addition to foreigners, the number of Japanese shareholders who strongly press demands, such as expansion of profits to improve corporate value, is certain to increase. Management must be prepared to listen sincerely to shareholders’ voices.
 今後、外国人だけでなく、利益拡大など企業価値の向上に一段と厳しく注文を付ける株主は増えるに違いない。経営陣は株主の声を真摯(しんし)に聞く姿勢が必要である。

It is laudable that Toyota Motor Corp. and many other Japanese firms decided at this year’s shareholders meetings to adopt outside board directors, thereby meeting the requests of shareholders.
 今年の総会で、トヨタ自動車など多くの企業が社外取締役の起用を決め、株主の要望に応えた点は評価できよう。

Nonetheless, shareholders’ demands for short-term stock price increases and higher dividends are not always right. Investment in personnel training and research and development is also vital from the viewpoint of enhancing corporate competitiveness in the medium and long term.
 無論、短期的な株価上昇や配当増額を求める株主の主張が、必ずしも正しいとは言えない。人材育成や研究開発など、中長期的に競争力を高める投資も重要だ。

Management has a responsibility to present reasonable policy and continue dialogue with shareholders even if it turns down their specific demands.
 経営陣が株主の主張を退けるにしても、対話を重ね、合理的な方針を示す「説明責任」が要る。

Improving corporate value is a common goal for firms and shareholders. They will be required to accelerate management reform amid their tense relationship.
 企業価値の向上は、企業と株主の共通目標である。互いに緊張関係を保ちながら、経営改革を加速することが求められよう。

(From The Yomiuri Shimbun, June 28, 2013)
(2013年6月28日01時27分  読売新聞)

2013/06/29

通常国会閉幕 首相問責で野党は何を得たか

The Yomiuri Shimbun June 28, 2013
Opposition parties lost more than they gained through censure
通常国会閉幕 首相問責で野党は何を得たか(6月27日付・読売社説)

The ordinary Diet session has closed in a terribly disorganized manner.
 あまりにお粗末な通常国会の幕切れである。

On Wednesday, the last day of the Diet session, the House of Councillors adopted a censure motion against Prime Minister Shinzo Abe. The Democratic Party of Japan, Your Party, and other opposition parties voted for the motion in the opposition-dominated chamber.
 参院が安倍首相の問責決議を民主党、みんなの党など野党の賛成多数で可決した。

Then the opposition parties refused deliberations of bills in the upper house, behaving as if such refusal was reasonable. Key bills, such as those to revise the Electric Utility Law and the Daily Life Protection Law, were scrapped as a result. A bill to formulate a basic law on the water cycle, which was submitted as lawmaker-initiated legislation to protect water sources, was discarded as well.
 参院で野党は、当然のように法案審議を拒み、電気事業法改正案、生活保護法改正案や、水源地を守るための水循環基本法案など議員提出法案が廃案になった。

The censure motion was submitted by the People’s Life Party, Green Wind and the Social Democratic Party. They condemned Abe for his recent skipping of deliberations at the upper house Budget Committee, claiming the act “violates the Constitution.”
 問責決議は、生活の党、みどりの風、社民党の3党が提出したもので、参院予算委員会の審議に首相が出席しなかったことを「憲法違反」だと主張していた。

Clear political motive

It is clear the motive of the three parties was to use Abe’s absence from certain Diet deliberations as a tool to launch an offensive against the Liberal Democratic Party ahead of the upcoming upper house election. Do they really think such actions will be welcomed by the public? If so, we have to warn them that they have made a glaring mistake.
 参院選を前に、自民党批判の材料にしたいのが見え見えだ。こうした姿勢が国民に評価されると考えるのなら勘違いも甚だしい。

In the first place, were Abe’s actions really worthy of censure? Abe absented himself in response to the unilateral decision by Budget Committee Chairman Hajime Ishii, a DPJ member, to hold intensive deliberations at the committee meetings, using the chairman’s authority to hold such meetings. The ruling parties said a no-confidence motion against upper house President Kenji Hirata, which had been submitted earlier, should be dealt with first, and boycotted the deliberations.
 そもそも首相を問責するほどの事態だったのか。参院予算委は民主党の石井一委員長が職権で開会を決め、与党は参院議長不信任案の処理が先だとして欠席した。

That was the reason why Chief Cabinet Secretary Yoshihide Suga defended Abe’s actions, saying that the prime minister had “sound justification” for skipping the deliberations. We believe Suga’s explanation has some validity.
 菅官房長官が、首相が出席しないことに「正当な理由がある」と抗弁したのも一理ある。

On the other hand, it is extremely difficult to understand why the DPJ’s upper house caucus decided to vote for the censure motion.
 理解できないのは、問責決議に賛成した参院民主党である。

On Tuesday, the DPJ assured the ruling parties that it would prioritize the passage of important bills and thus will not agree with the censure motion.
 民主党は25日、重要法案の処理を優先し、問責決議案は採決しない方針を与党と確認していた。

However, the next morning, the DPJ abruptly changed its attitude, having been persuaded by Your Party and other opposition parties. If the DPJ had kept its initial stance, the key bills would have been able to pass the Diet smoothly.
 ところが、26日午前になると、みんなの党など他党に同調し、対応が一変した。民主党が採決反対を貫いていれば何の問題もなく、重要法案は成立しただろう。

We believe the DPJ itself still has a vivid memory of being distressed by censure motions, which lack legally binding power, when the party held the reins of government. DPJ Secretary General Goshi Hosono defended the party’s action by saying, “The LDP has no enthusiasm for completing the bills.” This remark is a transparent attempt to dodge the DPJ’s responsibility and shift blame to the LDP.
 民主党は与党を経験し、法的な効力のない問責決議の理不尽さを十分痛感したはずだ。細野幹事長は「自民党に法案を仕上げる熱意が全くない」と自民党を非難したが、責任転嫁にほかならない。

This Diet session’s top political issue was electoral system reform for the House of Representatives. Regarding that issue, the ruling parties exchanged documents with opposition parties confirming that “once the upper house election finishes, parties will immediately resume negotiations and reach a conclusion” on drastic reform, including a reduction in the number of lower house seats.
 今国会での最大の政治課題だった衆院選挙制度改革に関しては、与野党が、定数削減を含む抜本的な見直しについて「参院選後、速やかに各党間の協議を再開し、結論を得る」と文書で確認した。

However, if the parties continue insisting upon only their own ideas for reducing lower house seats and do not compromise, and if they continue their attitude of putting party interest above national interest, making such agreements will be absolutely meaningless.
 だが、各党が定数削減にこだわり、党利党略の主張を繰り返すだけであれば、こんな約束を何度交わしても意味がない。

Creating a third-party body

To break the impasse on the issue, Abe revealed a proposal at a press conference held after the end of the Diet session. “I would like to suggest establishing a third-party organization [on electoral system reform], which comprises experts from the private sector, within the Diet,” Abe said. We believe this is a sound proposal.
 膠着(こうちゃく)状態を打破するために、首相は国会閉会後の記者会見で、「民間の有識者による第三者機関を国会に設けることを提案する」と言明した。妥当な判断だ。

The organization should have binding power so the parties would comply with the conclusion of experts.
 各党が有識者の出した結論を尊重するよう、拘束力をもつ機関とすべきである。

Meanwhile, during the Diet session, the Commission on the Constitution in both the lower and the upper house has vigorously discussed the issue of amending the Constitution, even debating on the specific contents of each amendment. Constitutional amendments are likely to become a major point of contention in the upper house election. We urge parties to make concrete proposals during the election campaign, so that the voters can make informed decisions on the issue.
 今国会では、衆参の憲法審査会が、具体的な憲法改正内容にも踏み込んで論議を重ねた。参院選では憲法改正が大きな争点となる。有権者が判断しやすいよう、具体的な論戦を望みたい。

(From The Yomiuri Shimbun, June 27, 2013)
(2013年6月27日01時17分  読売新聞)

2013/06/28

離島防衛訓練 自衛隊に海兵隊機能が必要だ

The Yomiuri Shimbun June 26, 2013
SDF must be equipped with functions like those of U.S. marines
離島防衛訓練 自衛隊に海兵隊機能が必要だ(6月25日付・読売社説)

To bolster the defense of Senkakus and other remote islands, the Self-Defense Forces urgently require upgraded capabilities similar to those of the U.S. Marine Corps, such as the ability to carry out amphibious landings and rapid deployment.
 尖閣諸島を含めた離島防衛を強化するには、海からの着上陸や緊急展開の能力などの「海兵隊的機能」を自衛隊に持たせることが急務だ。

The SDF and the U.S. military have been conducting joint exercises in California for the defense of remote islands. This is the first time the Ground, Maritime and Air Self-Defense Forces have all conducted overseas exercises with the U.S. military.
 自衛隊と米軍が10~26日に米カリフォルニア州で、離島防衛の共同訓練を実施している。陸海空3自衛隊と米軍による海外での統合訓練は初めてである。

During the training, the U.S. military’s new MV-22 Osprey transport aircraft landed on the deck of an MSDF destroyer. The GSDF’s Western Army Infantry Regiment, which is primarily responsible for the defense of remote islands, was engaged in joint training with U.S. marines to regain remote islands captured by an enemy.
 訓練では、米軍の新型輸送機MV22オスプレイが海上自衛隊の護衛艦に着艦した。離島防衛を主任務とする陸上自衛隊の西方普通科連隊は、海兵隊とともに、敵に占領された離島の奪還も行った。

These are practical exercises to meet the needs of the times, as the defense of remote islands is of increased importance.
 離島防衛の重要性が増す中、時宜にかなう実戦的な訓練だ。

Chinese expansionism

Training has been conducted with the Chinese military as the supposed enemy. China called for the training to be canceled as its timing overlapped with a U.S.-China summit meeting. It is natural that Tokyo and Washington refused the Chinese request.
 訓練は中国軍を対象に想定している。米中首脳会談の時期と重なったため、中国は中止を求めた。日米が拒否したのは当然だ。

Under the banner of making China a maritime power, that country’s navy, air force and State Oceanic Administration have been bolstering their equipment, openly aiming to expand their territorial and national interests in the East and South China seas.
 中国は「海洋強国化」の名の下、海空軍や国家海洋局の装備を増強し、公然と東・南シナ海での領土・権益拡大を目指している。

Intrusions by China’s maritime surveillance ships into Japanese territorial waters around the Senkaku Islands can be dealt with by the Japan Coast Guard. But to deter Chinese special forces from occupying the islands, it will be indispensable to improve the quick reaction capabilities that can be acquired through the joint exercises of the SDF and U.S. military.
 海洋監視船による尖閣諸島周辺の領海侵入には海上保安庁が対応するにせよ、中国の特殊部隊による島の占拠などを抑止するには、共同訓練を通じた自衛隊と米軍の即応力の向上が欠かせない。

Military threats to Japan have changed dramatically since the end of the Cold War. Invasions of remote islands can be considered “new threats” along with missile strikes, terrorist attacks and cyber-attacks. SDF personnel allocations, equipment and training must be reexamined in accordance with the changed threats.
 冷戦終結後、日本の軍事的脅威は大きく変化した。離島侵攻は、ミサイル、テロ、サイバー攻撃とともに、「新たな脅威」と位置づけられる。脅威の変化に応じて、自衛隊の部隊編成や装備、訓練を見直さなければならない。

Defense of remote islands will be a core of the new National Defense Program Guidelines to be compiled by late December.
 今年末に策定する新防衛大綱では離島防衛が一つの柱となる。

It will be essential to augment the GSDF’s Western Army Infantry Regiment, which plays a central role in defense of the Nansei Islands stretching from Kagoshima Prefecture through Okinawa Prefecture, as well as to obtain equipment such as amphibious landing vehicles. To secure naval and air supremacy, it will be necessary to increase the number of MSDF destroyers and ASDF fighter jets and early warning aircraft so as to strengthen warning and surveillance activities.
 南西諸島防衛の中核を担う陸自西方普通科連隊を拡充し、水陸両用車など装備を増強すべきだ。制海・制空権の確保へ、海自の護衛艦や航空自衛隊の戦闘機、早期警戒管制機なども増やし、警戒監視活動を強化する必要がある。

New hardware needed

Procurement of the Global Hawk, an unmanned surveillance aircraft, must be accelerated while introduction of Osprey tilt-rotor aircraft must be studied earnestly.
 無人偵察機グローバルホークの取得を急ぐとともに、オスプレイの導入も真剣に検討したい。

Amphibious vehicles and Osprey aircraft will be useful for rescue operations and relief activities in damaged areas in times of major disasters such as earthquakes.
 水陸両用車やオスプレイは、地震など大規模災害時の人命救助や被災地支援にも効果があろう。

The administration of Prime Minister Shinzo Abe has boosted the defense budget for the current fiscal year, the first increase in 11 years, reversing the trend of year-on-year erosion in defense spending. Given the worsening of the security environment around Japan, defense spending must be increased next fiscal year and onward. But a huge hike cannot be expected in light of stringent fiscal conditions.
 安倍政権は今年度、削減が続いていた防衛予算を11年ぶりに増加させた。日本の安全保障環境が悪化する中、来年度以降も増加すべきだが、厳しい財政事情を踏まえれば、大幅な伸びは望めない。

It is essential to allocate defense budgets on a priority basis, such as by expanding allocations for bolstering “dynamic defense capabilities” that emphasize troop mobility, particularly for defense of remote islands, while curtailing spending through cuts in the number of GSDF personnel, consolidation and abolition of bases and efficient procurement of equipment.
 離島防衛を含む、部隊の機動力を重視する「動的防衛力」の強化など重点分野は大胆に増やす。一方で、陸自の定員削減や基地の統廃合、装備調達の効率化などで一部の歳出は減らす。防衛予算にメリハリをつけることが大切だ。

(From The Yomiuri Shimbun, June 25, 2013)
(2013年6月25日01時27分  読売新聞)

2013/06/27

首相沖縄訪問 政府一丸で基地負担を減らせ

The Yomiuri Shimbun June 25, 2013
Govt needs to make unified efforts to reduce burden on Okinawa
首相沖縄訪問 政府一丸で基地負担を減らせ(6月24日付・読売社説)

To reduce the excessive burden on Okinawa Prefecture of hosting U.S. military bases, the government must make unified efforts.
 沖縄の過重な米軍基地負担を軽減するため、政府は一丸となって努力する必要がある。

On Sunday, the 68th anniversary of the end of the Battle of Okinawa during World War II, Prime Minister Shinzo Abe visited the prefecture and attended a memorial ceremony held to console the souls of those who died in the battle.
 太平洋戦争の沖縄戦で組織的戦闘が終結したとされる「慰霊の日」の23日、安倍首相が沖縄県を訪問し、沖縄全戦没者追悼式に出席した。

Foreign Minister Fumio Kishida, Defense Minister Itsunori Onodera and Ichita Yamamoto, state minister for Okinawa affairs, also attended the ceremony. It marked the first participation by foreign and defense ministers since such ceremonies were first held in 1962.
 式典には、岸田外相、小野寺防衛相、山本沖縄相も同席した。外相、防衛相の出席は初めてだ。

To tackle the Okinawa issues, it is essential that the ministries concerned closely cooperate with each other and coordinate views with local governments in a multitiered manner.
沖縄問題に取り組むには、関係府省の緊密な連携と、地元との重層的な調整が欠かせない。

‘Visible’ reduction

Following the ceremony, Abe said his government would implement measures to reduce the burden of Okinawa “visibly.” With regard to the U.S. Marine Corps’ Futenma Air Station, Abe said the Futenma base should not be permanently used. “We’d like to make efforts to realize the relocation of the base as soon as possible,” he said.
 首相は式典後、基地負担軽減について「目に見える形で実施したい」と語った。米軍普天間飛行場に関しては、「固定化はあってはならない。一日も早い移設に努力を重ねたい」と強調した。

The governments of Japan and the United States announced in early April that the tracts of land, more than 1,000 hectares when combined, that are now used for the six U.S. military facilities in the southern part of the prefecture will be returned to Japan over the next 10 to 16 years.
 日米両政府は4月上旬、県南部の米軍6施設について10~16年間程度で計1000ヘクタール以上の広大な土地を返還する計画を発表した。

The quickest way to reduce Okinawa’s burden of hosting the U.S. bases is to steadily implement this plan. It is particularly important to realize the relocation of Futenma Air Station in Ginowan to the Henoko area of Nago.
この計画の着実な実行こそが沖縄の負担を減らす最大の近道だ。
 特に普天間飛行場の辺野古移設を実現することが重要である。

Both governments agreed on June 13 that the return of the residential area of western Futenma used by Camp Zukeran in Ginowan, originally scheduled for next fiscal year, would be carried out within this year.
 日米両政府は今月13日、来年度に予定していたキャンプ瑞慶覧の西普天間住宅地区の返還を年内にも前倒しすることで合意した。

This can be highly evaluated as part of the government’s efforts to improve the environment for Okinawa Gov. Yoshikazu Nakaima to approve the reclamation of land from public waters, planned in line with the relocation of the air station to the Henoko coastal area.
 普天間飛行場の辺野古移設に伴う公有水面埋め立てを、仲井真弘多知事が承認しやすくするための環境整備の一環と評価できる。

It is important for the central and local governments to hold talks over those areas that are to be vacated with the return of the U.S. military facilities and discuss ways to use them more efficiently. Such efforts should be made in tandem with the implementation of various measures designed to promote the local economies of Okinawa. They would certainly enhance the significance of the return of the U.S. bases to Japan.
 大切なのは、基地返還後の跡地について、政府と地元自治体などが協議し、より効率的な利用策を検討することだ。様々な沖縄振興策とも連動させたい。それが基地返還の価値を高めよう。

Promotion of economy

After the ceremony, Abe and Nakaima exchanged views over how to promote the Okinawa economy. While fostering their relationship of trust, Abe should win a broader understanding of Nakaima over the Futenma relocation to the Henoko district.
 首相は式典後、沖縄振興策について知事と意見交換した。信頼関係を醸成しつつ、辺野古移設への知事の理解を広げるべきだ。

On the other hand, the reduction of Okinawa’s burden of hosting U.S. bases should be made, in principle, while maintaining the deterrence of the U.S. forces stationed in Okinawa Prefecture.
 一方で、基地負担の軽減はあくまで、在沖縄米軍の抑止力の維持と両立させなければならない。

This is essential because the ability to respond rapidly and maintain mobility of the Self-Defense Forces and the U.S. forces stationed in Japan has become more important in the light of the nuclear and missile development by North Korea and the rapid military buildup and aggressive actions of China.
 北朝鮮の核・ミサイル開発や、中国の急速な軍備増強と示威活動の拡大を踏まえれば、自衛隊と米軍の即応・機動力の重要性が今、一段と増しているからだ。

The town assembly of Yonaguni, Okinawa Prefecture, approved on Thursday the lease of land to the central government needed for the deployment of a Ground Self-Defense Force unit on the Yonaguni Island to monitor coastal areas.
 沖縄県与那国町議会は20日、与那国島への陸上自衛隊沿岸監視部隊の配備に伴う町有地の国への賃貸を承認した。

The Defense Ministry and the town were once at odds over the payment of cooperation expenses to the town concerning the deployment of the GSDF unit. But they are expected to conclude the lease contract later this week.
防衛省と町は一時、陸自配備に関する町への協力費支払いをめぐって対立したが、週内にも賃貸契約を結ぶ運びだ。

For both the SDF and the U.S. forces in Japan to operate effectively, it is essential for both to build stable and amicable relations with local officials concerned. The Defense Ministry needs to continuously deepen its ties with Okinawa by making use of various opportunities in the days ahead.
 自衛隊や米軍が効果的な活動を行うには、地元関係者と安定的で良好な関係を築くことが前提となる。防衛省は引き続き、様々な機会をとらえ、沖縄との関係を深めることが求められる。

(From The Yomiuri Shimbun, June 24, 2013)
(2013年6月24日01時40分  読売新聞)

2013/06/26

都議選自公完勝 アベノミクスへの期待票だ

The Yomiuri Shimbun June 25, 2013
Abenomics helped LDP, Komeito score huge victory in Tokyo poll
都議選自公完勝 アベノミクスへの期待票だ(6月24日付・読売社説)

The administration of Prime Minister Shinzo Abe has been given a significant boost. It remains to be seen whether the voters’ verdict this time will affect the outcome of next month’s House of Councillors election.
 安倍政権にとっては大きな追い風だ。
 有権者の政権に対する支持が本物かどうかは、来月の参院選で試されることになろう。

In the Tokyo Metropolitan Assembly election on Sunday, all of the Liberal Democratic Party’s candidates were elected, and the LDP regained its status as the largest party in the assembly. The LDP’s coalition partner, New Komeito, also succeeded in having all of its candidates elected, and it took over as the second-largest force.
 東京都議選で自民党は候補者全員が当選し、都議会第1党を奪還した。公明党も手堅く全勝し、第2党の座を占めた。

The LDP and Komeito, which form the ruling coalition, threw their support behind Tokyo Gov. Naoki Inose and together far exceeded a majority of seats in the 127-seat assembly. The metropolitan government will certainly gain stability.
猪瀬直樹知事の与党である自公両党の議席が過半数を大幅に超え、都政が安定するのは間違いない。

DPJ trounced

As there were few contentious issues on how to steer the administration of the metropolitan government, the assembly election, the first major electoral contest since the second Abe Cabinet was launched in December, focused mainly on the public’s evaluation of Abenomics, the Abe administration’s handling of economic policies.
 第2次安倍内閣の発足後、初の大型選挙となった都議選では、都政に関する大きな争点が不在だったこともあって、もっぱら安倍政権の経済政策「アベノミクス」に対する評価が焦点となった。

Given the landslide victory of both the LDP and Komeito, it can safely be said the Abe administration’s key policies and its government management received a favorable rating from Tokyo voters.
 自公両党の完勝によって、安倍政権の政策と政権運営は、前向きの評価を得たと言える。

However, there have been a number of recent cases in which candidates backed by the LDP have lost to incumbents in local contests, including the June 16 gubernatorial election in Shizuoka Prefecture.
 ただ、静岡県知事選など最近の地方選では、自民党系の候補が現職に敗れるケースが目立つ。

Commenting on the results of the Tokyo assembly election, Abe told reporters, “What we need now is to brace ourselves by deepening our sense of humility.”
安倍首相は選挙後、「今求められているのは、一層謙虚に身を引き締めていくことだ」と語った。

The DPJ, which became the largest party after the previous Tokyo assembly election in 2009, suffered a shattering defeat, plunging to fourth position in the assembly. This appears to reflect the deep-rooted distrust of voters after the party committed a number of serious blunders over the handling of national politics. It is evident that the party has failed to stop its decline in strength.
 前回都議選で第1党に進出した民主党は、地滑り的な大敗を喫し、第4党に転落した。国政で失政を重ねたことに対する有権者の不信感が、いまだに根強いことの証左である。退潮傾向に歯止めはかからなかったと言えよう。

In its latest electoral campaign, the DPJ stressed the negative aspects of Abenomics by taking note of the current erratic fluctuations of stock prices and exchange rates. The party’s unyielding reproach against the government without offering counterproposals apparently failed to satisfy the electorate.
 民主党は、株価や為替相場が乱高下していることなどから、アベノミクスのマイナス面を訴えた。だが、批判一辺倒で説得力に欠けたのではないか。

In the upcoming upper house race, the DPJ should have in-depth policy discussions with the LDP by presenting specific policy measures that offer an alternative to government policies.
 参院選では、具体的な対案を示し、自民党との政策論争を深めてもらいたい。

Despite fielding a large number of candidates in the Tokyo assembly race, Nippon Ishin no Kai (Japan Restoration Party) fared extremely poorly. This was probably due to remarks by the party’s coleader Toru Hashimoto regarding the issue of so-called comfort women.
 日本維新の会は大量の候補を擁立したにもかかわらず、全く振るわなかった。橋下共同代表のいわゆる従軍慰安婦問題をめぐる発言が響いたのだろう。

During the campaign, former Tokyo Gov. Shintaro Ishihara, the other party coleader, complained about Hashimoto. In response, Hashimoto hinted he might step down from the party’s top post depending on the outcome of the Tokyo contest.
 石原共同代表が選挙期間中に橋下氏に苦言を呈し、橋下氏も都議選の結果次第では辞任もあり得ると発言する事態にまで至った。

It should be noted that Tokyo is Ishihara’s hometown. The disastrous defeat of Ishin no Kai should be attributed partly to the dwindling influence of Ishihara over Tokyo voters.
 ただ、東京は石原氏の地元だ。今回の惨敗は石原氏の影響力低下に負う面も小さくない。

Link with upper house race

Your Party, which withdrew from an electoral cooperation accord with Ishin no Kai because of the Hashimoto remarks on the comfort women issue, did remarkably well considering it fought the election single-handedly. The party seems to have obtained some degree of support from floating voters who are averse to the LDP and the DPJ.
 みんなの党は、橋下発言を機に維新との選挙協力を解消して選挙に臨んだが、躍進した。自民、民主両党に批判的な無党派層の一定の受け皿になったと見られる。

The Japanese Communist Party doubled its seats in the Tokyo assembly to become the third-largest party in the assembly. This may be due to the low turnout compared with the previous Tokyo assembly election as well as its solid support base on the strength of its organizational skills.
 共産党も議席を倍増し、民主党を抜いて第3党に進出した。投票率が前回を大きく下回ったことなどが、組織力のある政党を押し上げたと言えよう。

Attention is now focused on how the respective parties’ vote-garnering capabilities that have been demonstrated in the Tokyo race may affect the electoral landscape for the July upper house election.
 今回の都議選で表れた各党の得票動向が、参院選にどう連動するか注目される。

(From The Yomiuri Shimbun, June 24, 2013)
(2013年6月24日01時40分  読売新聞)

2013/06/25

中国海洋強国化 地域の緊張どこまで高めるか

The Yomiuri Shimbun June 24, 2013
How far is China going to heighten tensions in the region?
中国海洋強国化 地域の緊張どこまで高めるか(6月23日付・読売社説)

As long as China has committed itself to taking a path of “peaceful development,” it must take the initiative and relax tensions in its international relations.
 「平和発展」を標榜(ひょうぼう)するなら、中国は率先して緊張緩和をすべきだ。

The administration of President Xi Jinping, which has declared this year the “first year for making China a maritime power,” has been accelerating moves aimed at forcibly enclosing the East China Sea and South China Sea.
 今年を「海洋強国化」の元年と位置づけた習近平政権が、東シナ海と南シナ海を力で囲い込む動きを着実に加速させている。

In late April, Beijing started cruise tours to the Paracel Islands in the South China Sea, triggering a fierce reaction from Vietnam, which has been locked in a territorial dispute with China over the islets.
 ベトナムと領有権を争う南シナ海の西沙諸島では、4月末にクルーズ船ツアーを開始し、ベトナムの強い反発を招いた。

Each cruise tour comprises about 200 passengers who can swim and go sightseeing on the islets, in what appears to be an attempt to make the visitors tangibly feel that China wields effective control over the chain. The scale of the tours is likely to be expanded.
 ツアーは200人規模で、観光や海水浴を通じて乗客に実効支配を体感させる内容だ。今後、規模を拡大するとみられる。

‘Patriotic education’

Beijing launched the cruise tour program after the city of Sansha was placed in charge of administering three island groups--the Paracel Islands, the Spratly Islands and the Macclesfield Bank--in June last year.
 昨年6月に、西沙、南沙、中沙の3諸島を管轄する「三沙市」を設置したのに続く措置だ。

The cruise tours of the Paracels are considered part of China’s “maritime version of the patriotic education program,” along with the planned construction of a national maritime museum in the suburbs of Tianjin, northern China, with a view to broadening public support for Beijing’s bid to secure its maritime interests.
 海洋博物館建設と並ぶ、海洋権益確保への支持を広げる「海洋版・愛国教育」の一環である。

On Wednesday, Xi met with his Vietnamese counterpart on his trip to China. A joint statement released after their talks stated the two countries will “remain calm and avoid action that could complicate or escalate a dispute.”
 習国家主席は19日、訪中したベトナム国家主席と会談した。その後の共同声明では、「争いを複雑化、拡大させる行動はとらない」としている。

That these two countries at loggerheads have agreed to prevent any further deterioration of ties over the dispute should be welcomed. It is crucial, however, that China and Vietnam abide by the accord, rather than just letting it end up as words on paper.
 対立する両国が紛争悪化に歯止めをかける点で一致したことは歓迎できる。言葉だけに終わらせず、順守することが肝要だ。

In May, Chinese surveillance ships started patrols in waters surrounding the Spratly Islands that have been under the effective control of the Philippines. This is similar to China’s regular patrols by surveillance vessels since last year in waters around the Scarborough Shoal near the Macclesfield Bank.
 中国はフィリピンが実効支配している南沙の一部海域で、5月に監視船の巡回を実施した。昨年来、中沙のスカボロー礁で監視船の巡回を常態化させている措置を想起させる動きである。

In February, Beijing’s first aircraft carrier, the Liaoning, docked for the first time at its homeport in Qingdao, Shangdong Provice. China is believed poised to have the Liaoning set out for a long-distance voyage before the end of the year. Flaunting its bolstered naval capabilities may be designed to put pressure on Japan, the United States and other countries.
 2月には、山東省青島を中国初の空母「遼寧」の母港とした。年内にも遠洋航海させる構えだ。海軍力増強の誇示は、日本や米国に圧力をかける狙いがあろう。

Chinese surveillance ships have continued to make regular intrusions in waters near the Senkaku Islands, Okinawa Prefecture.
 沖縄県・尖閣諸島周辺では、監視船の領海侵入が続いている。

In the latest U.S.-China summit meeting, President Barack Obama was quoted as telling Xi that the U.S. government would not accept China intimidating Japan, a U.S. ally. This remark can be interpreted as a warning to China over repeated provocations by its ships in the waters. Obama’s remark is important in that it will solidify the Japan-U.S. alliance.
 オバマ米大統領は先の米中首脳会談で、「同盟国である日本が中国に脅迫されるのを見過ごすことはできない」と述べたという。監視船による挑発を念頭に中国を牽制(けんせい)したものだろう。日米同盟強化につながる重要な発言である。

‘Shelving’ logic irrational

We cannot overlook the fact that high-ranking officials of the Xi administration are trying to change the status quo over the Senkakus by reiterating that the issue “must be shelved.”
 看過できないのは、尖閣について、習政権の要人が度々「棚上げ」論を持ち出し、現状変更を図ろうとしていることだ。

Fundamentally, no territorial problem between Japan and China exists, so there is nothing to be shelved.
 そもそも「棚上げ」すべき領土問題は存在しない。

Back in 1992, China itself did away with the logic of “shelving” the dispute by stipulating explicitly for the first time what it claims to be China’s “sovereignty” over the Senkaku Islands in its Territorial Waters Law.
1992年に初めて領海法で尖閣の「領有」を明記し、「棚上げ」を破棄したのは他ならぬ中国ではないか。

In a series of meetings of the Association of Southeast Asian Nations to be held from late this month to early July, discussions will be made on various issues, including the principle of the “rule of law” in the South China Sea.
 今月末から来月初めにかけて開かれる東南アジア諸国連合(ASEAN)の一連の会議では、南シナ海での「法の支配」などを巡る議論が行われる。

At these meetings, the Japanese government must actively explain the historial facts involving the Senkakus and the urgent need to strictly abide by internationally acceptable rules so as to persuasively convey Japan’s position.
 政府は歴史的経緯とルール厳守の緊要性を積極発信し、日本の立場を訴えていかねばならない。

(From The Yomiuri Shimbun, June 23, 2013)
(2013年6月23日01時32分  読売新聞)

2013/06/24

米核軍縮提案 中国の核増強にも目を向けよ

The Yomiuri Shimbun June 23, 2013
Obama's call for U.S., Russian N-cuts should help boost stability in Asia
米核軍縮提案 中国の核増強にも目を向けよ(6月22日付・読売社説)

U.S. President Barack Obama’s proposal for Russia to start new negotiations to reduce both sides’ nuclear weapons should lead to enhancement of security in Asia amid a growing mood for nuclear disarmament.
 核軍縮の機運の高まりを生かし、アジアの安全保障環境の改善へつなげることが重要である。

In Berlin, Obama recently made a speech seeking such negotiated cuts with Russia.
 オバマ米大統領がドイツの首都ベルリンで演説し、ロシアに新たな核軍縮交渉を提案した。

Obama said he wants to reduce the maximum number of U.S. and Russian deployed strategic nuclear warheads by one-third from 1,550--set under the New START, which stands for Strategic Arms Reduction Treaty--to about 1,000 each.
 戦略核弾頭の配備数の上限を、現在の米露の新戦略兵器削減条約(新START)が規定する1550個から3分の1減らして、1000個程度にしたいという。

He also intends to target smaller, tactical nuclear weapons, which are less powerful, for the proposed cuts.
 比較的威力が小さい戦術核兵器も、削減対象に加える方針だ。

The U.S. president appears to have used the speech to express his willingness to continue to pursue nuclear disarmament during his second term in office after achieving the conclusion of the New START in his first term.
 オバマ氏は、任期1期目で達成した新STARTに続く核軍縮の成果を、2期目でも引き続き追求する意欲を表明したと言える。

Prospects of N-talks unclear

However, Russia has given the cold shoulder to Obama’s call, with Russian Deputy Prime Minister Dmitry Rogozin saying Moscow “can’t take such a proposal seriously.”
 ロシア側は、ロゴジン副首相が「真剣に受け止めることはできない」と述べるなど、提案の受け入れには否定的だ。

Russia is strongly concerned that U.S. plans for a missile defense system in Europe could weaken its nuclear deterrent capability.
米国が欧州で進めるミサイル防衛(MD)計画によって自らの核抑止力が弱まることを強く警戒しているためだ。

Therefore, prospects of the proposed nuclear disarmament negotiations are dim. But the United States and Russia, both nuclear superpowers, in particular bear responsibility for ensuring world stability.
 軍縮交渉の行方は不透明だ。それでも核大国の米露両国には、世界の安定に特別の責任がある。

At present, there are reportedly more than 10,000 nuclear weapons in the world, of which 95 percent are owned by these two countries. It is not convincing if they urge other countries to refrain from having nuclear weapons or to reduce their nuclear arsenals without making any reductions themselves. We hope the both countries will keep that point in mind and sincerely work on nuclear reductions.
 世界には1万を超す核兵器がある。その95%を保有する両国が、自らの核を削減せずに、いくら他国に核を持つな、核を減らせ、と言っても、説得力は持つまい。その点を自覚して、核軍縮に真摯(しんし)に取り組んでもらいたい。

In making the proposal, Obama also said his country would work together with its North Atlantic Treaty Organization allies to seek cuts in U.S. and Russian strategic nuclear weapons.
 今回の核軍縮提案に際し、オバマ氏は、戦術核の削減へ向け、北大西洋条約機構(NATO)の同盟国とも協力すると述べた。

N-weapons spreading in Asia

Meanwhile, the ability of Obama, who won the Nobel Peace Prize for his vision and work to seek “a world without nuclear weapons,” likely will be tested over his future efforts in Asia, where nuclear weapons have spread.
 「核兵器のない世界」の理念を掲げてノーベル平和賞を受賞したオバマ氏の真価が問われているのは、核を巡る環境が悪化しているアジアでの取り組みだ。

Currently, China has about 250 nuclear warheads. China, India and Pakistan have been building up their nuclear arsenals while North Korea has conducted three nuclear tests, pressing ahead with its efforts to develop nuclear missiles.
 中国の核弾頭は250個に達している。その中国やインド、パキスタンは核兵器を増強し、北朝鮮は核実験を3度強行して核ミサイル武装化にひた走っている。

In Japan, which depends on the U.S. “nuclear umbrella” amid such circumstances, some people may worry that Washington’s push for nuclear reductions could have adverse effects on regional stability in Asia.
 米国の“核の傘”に抑止力を頼っている日本としては、こうした状況で米国が核軍縮を進めれば、かえって地域の安定が損われはしまいか、とも懸念される。

However, Obama said in the Berlin speech, “I’ve determined that we can ensure the security of America and our allies, and maintain a strong and credible strategic deterrent,” even if the United States and Russia reduce their nuclear weapons in line with Obama’s proposal. Such remarks are reassuring.
 オバマ氏が、今回提案の核削減を実行しても、「米国と同盟国の安全は確保でき、抑止力を維持できる」と述べたことは心強い。

Meanwhile, we urge China to promote nuclear reductions in tandem with the United States and Russia. Chinese President Xi Jinping and Obama have agreed to push for North Korea’s denuclearization. To urge Pyongyang to abandon nuclear weapons, however, Beijing should scale down its own nuclear capability.
 中国には、米露に協調して核削減を進めるよう、強く求めたい。中国の習近平国家主席はオバマ氏と、北朝鮮の非核化で一致した。北朝鮮に核放棄を迫るためにも自らの核軍縮が求められよう。

Also, to allow the Comprehensive Nuclear Test Ban Treaty to come into force as early as possible, Washington and Beijing should work together to build support in their countries to ratify it.
 核実験全面禁止条約(CTBT)の早期発効へ、条約批准を急ぐ点でも米中は協調すべきである。

(From The Yomiuri Shimbun, June 22, 2013)
(2013年6月22日01時33分  読売新聞)

2013/06/23

FRB出口戦略 市場の混乱防ぐ舵取りが要る

The Yomiuri Shimbun June 22, 2013
Fed needed to steer policy for preventing market turmoil
FRB出口戦略 市場の混乱防ぐ舵取りが要る(6月21日付・読売社説)

The U.S. Federal Reserve Board is poised to begin scaling back by the end of the year its third round of quantitative monetary easing, a huge stimulus program known as QE3 that has helped shore up the U.S. economy.
 米連邦準備制度理事会(FRB)が、米国景気を下支えしてきた異例の規模の量的緩和策第3弾(QE3)を、年内に縮小し始める見通しだ。

Fed Chairman Ben Bernanke, in a press conference Wednesday following a two-day meeting of the bank's monetary policy panel, the Federal Open Market Committee, revealed for the first time the central bank's “exit strategy” for normalizing its ultra-easy monetary policy.
 バーナンキFRB議長は19日、連邦公開市場委員会(FOMC)後に記者会見し、金融政策を正常に戻す「出口戦略」を初めて明らかにした。

Regarding QE3, under which the the Fed purchases Treasury and mortgage-backed bonds at a monthly pace of $85 billion (about 8.2 trillion yen), Bernanke said it would be “appropriate to moderate the monthly pace of purchases later this year...and we will continue to reduce the pace of purchases in measured steps through the first half of next year, ending purchases around mid-year,” as long as the country sustains its economic recovery.
 景気回復が順調に進めば、米国債などを毎月850億ドル(約8・2兆円)買い入れているQE3について、「年後半にペースを縮小し、来年半ばに購入を終了するのが適切」と述べた。

Sign of confidence

The Fed's announcement of a policy shift toward reducing QE3 and clearly stating a goal for ending it, while predicated on the condition that the U.S. economy continues to grow as expected, received attention worldwide and is certain to have wide-ranging effects.
 条件付きながら、焦点だったQE3の縮小と終了時期を表明した影響は大きい。

Ever since the financial crisis that erupted following the collapse of Lehman Brothers in September 2008, the U.S. central bank has carried out quantitative easing three times to end the crisis and prop up business activity.
 2008年のリーマン・ショック後、FRBは、金融危機を収束させるとともに、景気テコ入れのため、量的緩和策を3回にわたって実施してきた。

The long-awaited launch of an exit strategy signals the central bank is ready to make a major change to policies that were aimed at coping with an emergency situation.
いよいよ出口戦略に動き出すことは、非常時に対応した政策の転換を意味する。

Bernanke’s bold remarks appear to be backed by confidence in the fundamentals of the U.S. economy, which have indicated recovery recently. He may also have thought it necessary to dispel a sense of uncertainty in the market over the future of U.S. monetary policy.
 議長の踏み込んだ発言には、最近の米国の景気回復基調に自信を深めていることがうかがえる。金融政策の先行き不透明感を払拭したい狙いもあるのだろう。

Stock prices in New York, however, tumbled on Wednesday with the Dow Jones industrial average closing more than 200 points lower than the previous day, while prices on the Tokyo Stock Exchange also dropped sharply on Thursday.
 しかし、19日のニューヨーク株式市場の株価は、前日比200ドル以上も値下がりし、20日の東京市場の株価も大幅に下落した。

These declines were largely due to a surge in investors selling shares out of fears that cash flowing into the market may dwindle.
 株式市場への資金流入が減少するとの懸念から、日米とも売りが膨らんだのが主因だ。

In the wake of Bernanke’s statement, concerns will likely persist over erratic fluctuations in stock prices and foreign exchange rates in the world's markets, which will present the Fed with the knotty task of preventing market confusion.
 今後も、世界の株価や為替相場の乱高下を招く恐れがある。市場の混乱防止へ、FRBは難しい舵(かじ)取りを迫られる。

Toward the end of last year, the Fed said it would not lift short-term interest rates from zero until the unemployment rate shrinks to 6.5 percent, while also keeping an eye on inflation. The easy-money measure has been in place since December 2008.
 FRBは昨年末、異例策の一環として08年12月から続けるゼロ金利政策の解除については、インフレ率を見ながら、「失業率が6・5%に下がるまで続ける」という方針を示している。

It is widely believed, however, that the U.S. jobless rate will not move from the current 7.6 percent to the Fed's target until 2014 at the earliest. Improvement in the U.S. employment situation has remained slow, making a full-fledged economic recovery uncertain.
 ただし、現在7・6%の失業率が6・5%に低下するのは早くても14年とみられる。雇用情勢の改善は緩慢で、本格的な景気回復は不透明だ。

Learn from U.S. challenges

Moreover, possible adverse impacts on business activities of fiscal belt-tightening by the administration of President Barack Obama cannot be underestimated.
オバマ政権の財政引き締めの悪影響も軽視できない。

Will the Fed be able to lift its zero interest rate policy after bringing QE3 to an end without causing market tumult? In this respect, we urge the central bank to use all the tools at its disposal to maintain a “dialogue with the market.”
 混乱なくQE3を終了させ、それに続いて、ゼロ金利政策解除にいつ踏み切るか。FRBは、「市場との対話」をさらに工夫することが求められよう。

The Bank of Japan, which has also implemented an extraordinary monetary easing policy, should learn from challenges the Fed is now addressing.
 異次元の量的緩和策を続ける日本銀行にとっても、FRBの課題は「他山の石」と言える。

The BOJ needs to maintain its focus on ending deflation and resuscitating the national economy to maximize the effects of its monetary policy. But sooner or later, the central bank will need to seriously examine how it will dial back these policies.
 当面は、デフレ脱却や日本経済再生を最優先し、緩和効果の最大化を図るべきだが、将来の出口戦略に向け、いずれ本格的に検討を進める必要がある。

(From The Yomiuri Shimbun, June 21, 2013)
(2013年6月21日01時20分  読売新聞)

2013/06/22

G8首脳宣言 日本経済が久々に示す存在感

The Yomiuri Shimbun June 21, 2013
Japan, Abenomics grabbed spotlight at G-8 summit meeting
G8首脳宣言 日本経済が久々に示す存在感(6月20日付・読売社説)

For the first time in many years, a Japanese prime minister has grabbed the spotlight in the international arena. Now all eyes are on whether Shinzo Abe can steadily implement his policies to rejuvenate Japan’s economy, a pledge the prime minister presented to world leaders at the recent Group of Eight summit meeting.
 久しぶりに日本の首相が存在感を示した。公約となった日本経済の再生に向け、政策の着実な実行が求められよう。

The summit meeting, held at Lough Erne, Northern Ireland, concluded Tuesday after the adoption of a joint statement. Leaders of Japan, the United States, Germany, and other G-8 nations took part in the meeting.
 英国の北アイルランドで行われた日米独など主要8か国首脳会議(G8サミット)は、首脳宣言を採択し、閉幕した。

“Global economic prospects remain weak,” the statement said, stressing the necessity for countries “to press ahead with the necessary reforms to restore sustainable growth and jobs.”
 宣言は「世界経済の成長見通しは弱い」との認識を示した上で、「持続可能な回復へ断固たる行動が必要」と強調した。

The eurozone economy is still trapped in negative growth, and the growth of China and other emerging nations, which have been serving as the locomotive of the world economy, has lost steam. It was absolutely necessary for the G-8 nations to reconfirm their unity at the summit.
 ユーロ圏はマイナス成長が続き、牽引(けんいん)役だった中国など新興国の景気減速も目立つ。G8が結束を再確認したのは適切である。

Expectations for Abenomics

One of the agenda items discussed at the meeting was Abenomics, the economic policy of the Abe administration. During the meeting, Abe told world leaders that “Japan’s economic development will give a boost to the economic progress of the world.”
 今回、焦点の一つになったのが安倍政権の経済政策「アベノミクス」だ。安倍首相は会議で、「日本経済の発展が世界経済の発展に貢献する」と説明した。

It is noteworthy that the statement referred to the so-called “three arrows” of Abenomics--bold monetary easing, fiscal stimulus and growth strategy. The statement gave a positive assessment to Abenomics, saying that the three arrows would underpin the nation’s growth.
 宣言が大胆な金融緩和、財政刺激策、成長戦略という「3本の矢」に言及し、「日本の成長を支える」と評価した意味は重い。

Japan must work hard to meet this global expectation and speed up its efforts to conquer deflation and rejuvenate its economy.
 日本は期待に応え、世界の成長に寄与できるよう、デフレ脱却と経済再生を急がねばならない。

However, the statement did not forget to make requests of Japan, whose fiscal condition is the worst among advanced nations. Japan needs to “address the challenge of defining a credible medium-term fiscal plan,” the statement said.
 先進国最悪の財政状況にある日本には、厳しい注文も付いた。宣言が「信頼できる中期的な財政計画」を求めたことだ。

The Abe administration plans to draw up a medium-term fiscal plan this summer. It is crucial for the government to show in the fiscal plan a concrete path toward simultaneously achieving the goals of economic growth and fiscal rehabilitation. After announcing the plan, the government must make wholehearted efforts to realize it.
 政府は、今夏策定する中期財政計画で、成長と財政再建の両立への具体的な道筋を示し、その実現を図ることが肝要である。

The statement said open trade is a key engine of global economic growth. It listed ongoing free trade talks, such as the Trans-Pacific Partnership framework talks in which Japan is involved, and added that the G-8 nations “aim to finalize all these deals as soon as possible.” In this regard, we urge the Abe administration to speed up its preparations for agricultural liberalization.
 世界が成長するための原動力は自由貿易推進だとして、宣言は、日本が参加する環太平洋経済連携協定(TPP)交渉などについて「可能な限り速やかな完結を目指す」と明記した。日本は、農業自由化への対応を急ぐべきだ。

Regarding the problem of tax avoidance, or global companies trying to reduce their tax payments by exploiting low tax rates of certain countries, the G-8 leaders agreed to speed up their efforts to create an international legal framework to prevent such moves. This is an important step forward--we urge Japan to play a leading role in establishing a framework that enables countries to fairly collect taxes from companies.
 グローバル企業が税率の低い国の制度を利用して節税している問題に関し、G8首脳が、課税逃れ防止の国際ルール作りを急ぐことで合意したのは前進だろう。日本などが主導し、適正に徴税できる仕組みを整えてもらいたい。

Pile pressure on N. Korea

The G-8 leaders also agreed to take concerted action on measures against terrorism in North Africa, in light of January’s hostage crisis at an Algerian natural gas complex. This is also a laudable development.
 一方、1月のアルジェリア人質事件を受け、北アフリカ諸国でのテロ対策にG8が協調することで一致したのは評価できる。

The joint statement demanded North Korea to abandon its nuclear and ballistic missile programs and refrain from taking provocative actions. It also urged Pyongyang to address the concerns of the international community over its human rights violations, including the abduction issue.
 宣言は、北朝鮮に核・弾道ミサイル計画の放棄を要求し、挑発行為の自制を促した。懸案の拉致問題を巡っても、人権侵害に関する懸念の解消に取り組むことを北朝鮮に強く求めた。

We believe it suggests that Abe’s message on North Korean problems was appreciated by the G-8 leaders. Abe has been keen to express Japan’s stance on the issue.
 首相が日本の立場を主張し、理解を得た成果と言える。

The G-8 leaders should also seek to join hands with China to urge North Korea to comply with U.N. Security Council resolutions as well as obligations stipulated in a joint statement issued in six-party talks on Pyongyang’s nuclear program.
 G8は中国とも連携し、北朝鮮に対し、国連安全保障理事会の決議や、核問題に関する6か国協議の共同声明にある義務を履行するよう、強く働きかけるべきだ。

(From the Yomiuri Shimbun, June 20, 2013)
(2013年6月20日01時28分  読売新聞)

2013/06/21

G8とシリア 依然見つからない内戦の出口

The Yomiuri Shimbun June 20, 2013
No end in sight for Syrian civil war, as arms support grows on both sides
G8とシリア 依然見つからない内戦の出口(6月19日付・読売社説)

How can the Syrian civil war be brought to an end? Leaders of the Group of Eight major powers should do their utmost to put an agreement on this issue reached in their latest meeting into practice.
 シリアの内戦をいかに終結させるか。各国首脳は、今回の合意実現へ、最大限努力すべきだ。

Regarding the Syrian situation, a focus of attention at the two-day G-8 summit meeting in Northern Ireland, Prime Minister Shinzo Abe and other leaders agreed to seek an international conference as early as possible to end the bloodshed in the Middle East country.
 英国・北アイルランドで開かれた主要8か国首脳会議(G8サミット)で、安倍首相ら参加国首脳は、焦点のシリア情勢について、流血の惨事を終わらせるため国際会議の早期開催を目指すことで合意した。

The agreement came after U.S. President Barack Obama and Russian President Vladimir Putin agreed in a separate meeting to hold such a conference.
 オバマ米大統領とプーチン露大統領が個別に会談し、一致したことを踏まえたものだ。

Although Obama and Putin reiterated their shared recognition that an international conference is important for dealing with the Syria situation, their views on the matter still differ widely.
 国際会議が重要だという認識を改めて共有したとは言え、米露首脳の見解の差は依然、大きい。

A quagmire of violence

During the summit meeting, Obama and Putin were unable to resolve their differences. While Obama considers the creation of a transitional government in Syria without Syrian President Bashar Assad as a goal of the envisaged international conference, Putin opposes any move to remove Assad from power.
 米露首脳会談では、「アサド大統領抜き」の「シリア移行政府」作りを会議の目的とするオバマ氏と、アサド氏排除に反対するプーチン氏の対立は解けなかった。

The Syrian civil war has turned into a quagmire, with the violence becoming increasingly severe. The death toll has topped 90,000 in the about two years since demonstrations calling for Assad's resignation started. The situation is serious.
 内戦は泥沼化し、厳しさを増している。アサド退陣を求めるデモの発生から2年余りで死者数は9万人を超した。深刻な事態だ。

The international community is divided into pro-Assad and anti-Assad groups.
 国際社会はアサド政権の擁護派と反対派に割れている。

The European Union, which has criticized the suppression of human rights by the Assad administration, lifted a ban on arms exports to Syria, paving the way for supplying weapons to Syrian rebels.
 アサド政権の人権弾圧を批判する欧州連合(EU)は、シリアへの武器禁輸を解除し、反体制派への武器供与に道を開いた。

The United States, meanwhile, has decided to provide military assistance to the Syrian rebels, after saying it had evidence that the Assad administration had used chemical weapons. It is widely believed that Washington will soon provide Syrian rebels with ammunition and other military supplies.
 米国も、「アサド政権が化学兵器を使用したことを確認した」として、反体制派への軍事支援を決めた。近く弾薬などの供与に踏み切るのでは、と見られる。

In contrast, Russia, which backs the Syrian government, argued that the United States’ assertion is groundless and plans to support the Assad administration by offering surface-to-air missiles.
 これに対して、シリア政府の後ろ盾となってきたロシアは、米側の主張には根拠がないと反発し、地対空ミサイルの供与でアサド政権を支える方針だ。

Lebanon’s Hizbollah militia, which is supported by Iran, has recently joined the Syrian government forces. There is no sign of the war subsiding.
 政府軍には最近、レバノンに拠点を置きイランの支援を受ける武装組織ヒズボラも加勢した。戦火が収まる気配は見えない。

It is necessary to get facts about the alleged use of chemical weapons by the Assad government, which is one reason for the mutual distrust between Washington and Moscow.
 米露の相互不信の一因になっている化学兵器問題では、事実関係を検証する必要がある。

Peace talks needed

Unless peace talks get on track, the Syrian civil war may drag on and there also is concern that it could destabilize surrounding countries.
 和平協議が軌道に乗らねば、内戦は長期化して、周辺諸国まで不安定化する事態が懸念される。

Taking advantage of the ongoing civil war, Islamic militants linked to Al-Qaida, an international terrorist network, have expanded their influence. Is there not a risk that some of the large amount of arms to be distributed could land in the hands of terrorist groups?
 国際テロ組織アル・カーイダとつながるイスラム過激派も、内戦に乗じて勢力を拡大している。大量に出回る武器が、テロ組織に拡散する恐れはないのか。

Meanwhile, the number of Syrian refugees who fled to Jordan and other neighboring countries has exceeded 1.5 million. Taking in these refugees is a heavy burden for those countries.
 一方、ヨルダンなど周辺諸国に逃れた難民は、150万人を超えた。受け入れ国の負担は重い。

During the G-8 summit meeting, Abe announced the government will offer $10 million in emergency grant aid to assist evacuees in Syria and refugees, as well as provide yen loans worth $120 million to Jordan.
 安倍首相はG8サミットで、国内避難民や難民を支援する1000万ドルの緊急無償資金協力や、ヨルダンに対する1億2000万ドル相当の円借款供与を表明した。

It is necessary to seek a political solution for ending the Syrian civil war, and G-8 countries must provide as much humanitarian assistance as possible.
 政治的な解決を図るとともに、各国が可能な限りの人道支援を進めることも必要だ。

(From The Yomiuri Shimbun, June 19, 2013)
(2013年6月19日02時11分  読売新聞)

2013/06/20

イラン大統領選 対外強硬路線は修正されるか

The Yomiuri Shimbun June 19, 2013
Will Iran’s hard-line stance change under new president?
イラン大統領選 対外強硬路線は修正されるか(6月18日付・読売社説)

How can Iran’s newly elected president live up to the people’s will expressed in the presidential election? We hope the new leader will first tackle the task of mending relations with foreign countries.
 選挙に表れた民意にどう応えるのか。政権交代を機に、まずは対外関係の修復を期待したい。

Hasan Rowhani, a conservative and moderate candidate, emerged victorious in the election held Saturday at a time when Iran has become increasingly isolated internationally due to its nuclear development. Rowhani, a cleric, won overwhelmingly after calling for improved relations with the United States and Europe.
 核開発で国際的孤立を深めているイランで大統領選挙が行われ、米欧との関係改善を掲げた保守穏健派のロハニ師が当選した。

Rowhani garnered more than half of the votes cast to score a stunning victory over a conservative hard-liner who had been billed as the leading candidate.
 50%を超える得票率で、有力と目された保守強硬派の候補に大差をつけての勝利である。

In acknowledging his win, Rowhani said it was “a victory of wisdom over radicalism.” He appears to be willing to follow a line that maintains a distance from that of the current administration.
 ロハニ師は「過激主義に対する知恵の勝利だ」と宣言した。現政権とは一線を画す立場だ。

It will be desirable for the international community if Rowhani shifts from the hard-line diplomatic policy pursued by outgoing President Mahmoud Ahmadinejad, who caused alarm by making provocative statements such as calling for Israel “to be wiped off the map.”
 イスラエルを「地図から消し去るべきだ」など挑発的言動が目立ったアフマディネジャド大統領の強硬な外交路線を転換するなら、国際社会にとっても望ましい。

Behind Rowhani’s resounding victory is a sense of stagnation that is enveloping Iranian society.
 ロハニ師大勝の背景には、イラン社会に広がる閉塞感がある。

During Ahmadinejad’s two terms over eight years, tight controls were placed on reformist politicians and freedom of speech. The United States and Europe have imposed economic sanctions in response to Iran’s continued nuclear development. This led to decreased crude oil exports and skyrocketing domestic prices of goods, which has stung people’s livelihoods.
 現大統領の2期8年の在任中、改革派の政治家や言論は封じ込められた。核開発継続を理由に米欧から科せられた制裁で、原油輸出が落ち込み、物価も高騰して、国民生活は困窮している。

A mandate to end impasse

Iranian voters, it may be said, have given Rowhani a mandate to break the stalemate.
 有権者は、事態打開をロハニ師に託したと言える。

A focal point is how he will deal with the nuclear issue.
 焦点は、核問題での対応だ。

Iran has been pressing ahead with uranium enrichment in defiance of U.N. Security Council resolutions. Tehran has enriched some uranium to 20 percent, far exceeding the 3.5 percent of nuclear fuel used at nuclear power plants. This unavoidably has stirred suspicions that Iran aims to develop nuclear weapons.
 イランは、国連安全保障理事会の決議を無視してウラン濃縮活動を続けている。濃縮度も原子力発電所の核燃料に使われる3・5%を上回る20%にまで高めた。核兵器開発を狙っているのでは、と疑われても仕方あるまい。

The five permanent members of the U.N. Security Council and Germany have placed highest priority of having Iran stop production of uranium enriched to 20 percent.
 安保理常任理事国とドイツの6か国は、濃縮度20%ウランの生産停止を最優先で求めている。

It is natural that the United States and European countries have urged Iran anew after the election to quickly resolve the nuclear issue diplomatically.
 選挙後、米欧諸国が核問題の迅速な外交的解決を改めてイランに呼びかけたのは、当然だ。

During the Iranian administration led by reformist President Mohammad Khatami from 1997 to 2005, Rowhani showed flexibility as he conducted nuclear negotiations with Britain, France and Germany. Nevertheless, little optimism can be warranted at this time.
 ロハニ師は、改革派のハタミ前政権下で英仏独との核交渉の責任者を務め、柔軟姿勢を示した経歴があるが、楽観はできない。

Khamenei holds real power

In Iran, supreme leader Ayatollah Ali Khamenei holds the reins of power, including diplomatic decisions. Under the union of religion and politics in Iran, there can be no change in nuclear policy unless it is approved by Khamenei. Can such a key person change Iran’s policy stance?
 イランでは、外交決定権を含め実権は最高指導者ハメネイ師にある。政教一致体制の下、ハメネイ師の同意抜きに核政策の変更はあり得ない。カギを握るハメネイ師が政策転換できるのかどうか。

Israel has not ruled out the option of a military strike to prevent Iran from possessing nuclear weapons. Military tension in the region will heighten if Iran continues its nuclear development.
 イスラエルは、イランの核兵器保有を阻止するために、攻撃も辞さない構えだ。イランの核開発が続けば、軍事的緊張は高まる。

Chief Cabinet Secretary Yoshihide Suga expressed hope that Iran’s change of president will bring about concrete progress toward resolving the nuclear issue. Japan will lean on the new adminisration to achieve that goal by utilizing their “traditional relationship of friendship” as leverage.
 菅官房長官は、イランの大統領交代が、核問題の解決に向けて「具体的な進展」をもたらすことに期待感を表明した。日本としても、「伝統的な友好関係」をテコに働きかける考えだ。

Japan relies on the Middle East for most of its crude oil imports, so ensuring stability in the region is a matter of life and death. The Iranian situation demands constant vigilance.
 原油の輸入を中東地域に依存する日本にとって、地域の安定は死活的に重要だ。イラン情勢から目を離すわけにはいかない。

(From The Yomiuri Shimbun, June 18, 2013)
(2013年6月18日01時33分  読売新聞)

2013/06/19

知財ビジョン 国際競争に勝つための体制に

The Yomiuri Shimbun June 18, 2013
Safeguarding intellectual property rights key to competing globally
知財ビジョン 国際競争に勝つための体制に(6月17日付・読売社説)

Intellectual property rights such as patents and trademarks relevant to cutting-edge technologies are undoubtedly the source of the international competitiveness of the nation’s industries.
 最先端技術の特許や商標などの知的財産権は、日本の産業競争力の源泉だ。

The need has been increasing for further strengthening joint private-public arrangements to effectively utilize the nation’s intellectual properties.
知財を有効活用する官民の体制を一層強化する必要がある。

The government has drawn up a “vision of intellectual property policy” with a view to laying out Japan’s approach toward handling intellectual property rights for the next 10 years, while deciding on a set of “basic principles” on the matter.
 政府は、今後10年間を見据えた「知的財産政策ビジョン」と、その「基本方針」を決めた。

It’s been 11 years since the country laid down an outline of intellectual property strategy.
 2002年に日本が知的財産戦略大綱を策定してから、11年が過ぎた。

In recent years, manufacturing businesses in such countries as South Korea and China have grown stronger, intensifying global competition among companies, including those in the United States and Europe, which place high importance on the protection of intellectual property rights.
最近では、韓国や中国などの製造業が台頭し、知財を重視する欧米企業を含めて、グローバル競争が激化している。

In-house inventions a focus

It is reasonable that the government, having a heightened sense of crisis over the circumstances, has embarked on overhauling the nation’s intellectual property policy in a way well-suited to the times. The envisioned policy shift can be expected to provide impetus to the growth strategy being undertaken by the administration of Prime Minister Shinzo Abe.
 政府が危機感を高め、時代の変化に合わせて知財政策を練り直したのは適切だ。成長戦略に弾みをつける効果も期待できよう。

Worthy of note in the envisioned policy is a new idea concerning “in-house inventions,” or inventions created by employees while performing research and development activities for their firms.
 今回、注目されるのは、企業の研究者らが仕事上で発明した「職務発明」の特許権に関する新たな方針である。

In the basic principles, the government has proposed two options for discussion: reviewing the current patent system, which stipulates patent ownership belongs to employees, so as to have the ownership belong to companies; or requiring patent ownership to be covered in a contract between the employee and the employer.
 従業員に権利が帰属すると規定した現在の制度を見直し、会社に帰属させるか、あるいは、帰属先を企業と従業員の間の契約で決めるという2案を示した。

There have been many instances in which employees dissatisfied with the compensation paid by their companies in return for their in-house inventions have sued the companies, causing the firms to be ordered to pay huge sums of settlement money. The government-proposed changes of patent ownership is in response to demands from businesses to rectify the situation.
 職務発明の対価に不満を持つ従業員に訴えられ、企業が巨額の和解金を支払う例が多い。是正を求める産業界に配慮したものだ。

If the changes take effect, businesses will find the risks of being subject to patent ownership-related lawsuits mitigated, making it easier for them to craft management strategies by flexibly utilizing patents.
 企業にとっては、訴訟リスクが軽減され、特許権を活用した経営戦略を描きやすくなる。

On the other hand, there are concerns the policy shift would affect adversely the willingness of researchers to engage in R&D and end up in a brain drain overseas.
一方で、研究者の開発意欲を殺(そ)ぐことや、人材の海外流出も懸念される。

The government is set to clarify the pros and cons of the two envisaged steps. Further studies and in-depth discussions should be carried out from the standpoint of beefing up Japan’s industrial competitiveness.
 政府は今後、2案を絞り込む。産業競争力を強化する観点から、さらに検討してもらいたい。

The proposals are worthy of high marks because they seek the enhancement of support for small and midsize businesses, which are delaying charting out intellectual property strategies on their own. These proposals should make it easier for them to develop human resources relevant to patent matters with the support of experts, such as chartered patent agents.
 知財戦略作りが遅れている中小企業向けに、弁理士など専門家による人材育成といった支援策の充実を求めた点も評価できる。

The basic principles have also incorporated steps for sending from Japan patent examiners to emerging economies in such areas as Asia to help them build infrastructure with an eye toward protecting intellectual property rights.
 基本方針は、日本から特許審査官をアジアなど新興国に派遣し、知財保護の基盤作りを支援することも盛り込んだ。

While an increasing number of Japanese companies are branching out abroad, intellectual property right protection is insufficient in emerging countries, which is a major impediment to Japanese firms’ efforts to expand there. Having a “Japan model” spread overseas in this respect will greatly benefit Japanese businesses.
 日本企業の海外展開が目立つが、新興国では知財保護が不十分で、日本企業の事業拡大の足かせになっている。日本モデルを浸透させるメリットは大きい。

Increase patent examiners

A key issue is how to prevent important technological information from illegally flowing out to emerging countries and others.
 課題は、日本の重要な技術情報が新興国などに不正流出することをどう防ぐかだ。

The basic principles have rightly pointed out the need for strengthening the nation’s intellectual property right protection arrangements. Information leakage abroad is a serious problem that could shake the very foundation of Japan’s industries.
基本方針は保護策の強化を指摘した。情報漏えいは日本の産業基盤を揺るがしかねない深刻な問題である。

Steps should be taken to prevent retirees and others from taking technological information out of the country. Such measures as encouraging companies and their employees to conclude an agreement on maintaining confidentiality of corporate secrets should be promptly put into force.
 退職者などが日本の技術情報を持ち出さないよう手立てを講じたい。企業が従業員と秘密保持契約を結ぶことを促す指針を策定するなどの対策を急ぐべきだ。

Compared to the United States and European countries, Japan has few government officials in charge of screening patent applications and related matters. It is critical to increase the number of patent examiners to ensure prompt acquisition of patent ownership and its effective use.
 欧米に比べて、特許などを審査する特許庁の要員は少ない。特許を速やかに権利化し、活用するには審査官増員も欠かせない。

(From The Yomiuri Shimbun, June 17, 2013)
(2013年6月17日01時21分  読売新聞)

2013/06/18

川重社長解任 合併で混乱招いた社内抗争劇

The Yomiuri Shimbun June 17, 2013
Kawasaki Heavy power struggle keeping market on tenterhooks
川重社長解任 合併で混乱招いた社内抗争劇(6月16日付・読売社説)

It is unusual in Japan to see the head of a major company suddenly dismissed. The market is now watching with a sharp eye the confusion caused by a power struggle within a major company.
 企業トップが突然、解任される異例の展開である。社内抗争による混乱に市場の目は厳しい。

Kawasaki Heavy Industries Ltd. dismissed President Satoshi Hasegawa and two other directors during an ad hoc board meeting on Thursday. The three had been pushing merger talks with Mitsui Engineering & Shipbuilding Co. The company also said it decided to scrap the integration talks.
 川崎重工業が13日の臨時取締役会で、三井造船との合併交渉を推進していた長谷川聡社長ら3人の取締役を解任した。交渉の打ち切りも決めた。

Shigeru Murayama, who was promoted to president from senior vice president, said “a strong sense of distrust had developed” regarding their assertive way of pursuing the merger talks because the three had acted as if “the integration was a foregone conclusion.” It was an agonizing decision to dismiss them, he added.
 常務から昇格した村山滋新社長は記者会見で、「合併ありきの姿勢に強い不信感を覚えた。苦渋の決断だ」と述べた。

What happened is in effect a palace coup staged jointly by Murayama and others to stop the merger plan with Mitsui Engineering.
 合併構想を阻止するために、村山氏らが結束した事実上の社内クーデターと言えよう。

In the shipbuilding and heavy machinery industry, Kawasaki Heavy is the nation's second largest company and Mitsui Engineering is the fifth. News reports revealed their integration talks at the end of April. If realized, the integration would have created a giant company with combined consolidated sales approaching 2 trillion yen.
 造船・重機業界2位の川崎重工と5位の三井造船の合併交渉は、4月末の報道で明るみに出た。実現すれば、連結売上高2兆円弱の大型再編になるはずだった。

Japanese shipbuilding companies once dominated the global market. Today, however, Chinese and South Korean rivals have overtaken Japanese companies.
 日本の造船業界はかつて世界を席巻したが、今では、中国や韓国メーカーに追い抜かれている。

It happened mainly because Japanese firms have suffered from a becalmed global shipbuilding market after the so-called Lehman shock and the negative effects of the super strong yen. They are also at a disadvantage to other Asian rivals in cost competitiveness.
 リーマン・ショック後の世界的な造船市況の低迷と、超円高の打撃を受けたうえ、コスト競争力で劣っているのが主因だ。

Surviving fierce contest

Mizuho Corporate Bank, the main bank financing Kawasaki Heavy and Mitsui Engineering, acted as a middleman in their merger planning. The plan can be seen as one tactic aimed at survival in a fierce global contest.
 川崎重工と三井造船の合併構想は、主力取引銀行のみずほコーポレート銀行が仲介役となった。激しい国際競争を生き残るための一つの選択肢だったのだろう。

In January, shipbuilding companies related to JFE Holdings, Inc. and IHI Corp. were integrated. Moves by Mitsubishi Heavy Industries, Ltd. and Imabari Shipbuilding Co., Ltd. to enhance their partnership apparently pushed Kawasaki Heavy and Mitsui Engineering toward the possible merger.
 1月にはJFE系とIHI系の造船子会社が統合した。提携関係を深めている三菱重工業と今治造船の動きも、川崎重工と三井造船の背中を押したとみられる。

Within Kawasaki Heavy, however, opinions about the integration were greatly divided. Supporters and opponents to the merger plan apparently had different views on the actual businesses of the company.
 しかし、川崎重工社内は合併の賛否で割れていた。経営実態への感度の差もあったのでないか。

Shipbuilding accounts for only 10 percent of Kawasaki Heavy’s sales. Manufacturing of trains, aerospace equipment and motorcycles is considered the company's major business.
 売上高のうち、造船部門はわずか1割に過ぎない。むしろ主力事業は、鉄道車両、航空宇宙、オートバイなどである。

Many strongly opposed the merger plan, arguing that it was expected to create synergies for the shipbuilding section but would not benefit the other unrelated sections much.
 三井造船との合併で造船部門では相乗効果が期待できても、非造船部門はメリットが薄いとして、合併反対論も強かった。

Industrial reorganization

Against this background, we urge Kawasaki Heavy to reflect on its past conduct of not disclosing important management information to the market at appropriate times. The company initially denied the preliminary merger talks but suddenly admitted them on Thursday.
 川崎重工が重要な経営情報を市場に適時開示していなかった点には反省を促したい。当初、合併交渉を否定しておきながら、13日に一転して認めたからだ。

Attention will now focus on what management strategies the two companies will develop in the wake of the merger talks being scrapped.
 今後の焦点は、合併交渉の白紙を受け、両社がそれぞれ、どんな経営戦略を打ち出すかだ。

The new Kawasaki Heavy president said the company will continue to study the possibilities of integration, merger and acquisition, and partnership, but the specific proposals Murayama will make remain to be seen. It is also important for the company to readjust its relations with the main financing banks.
 「合併・買収(M&A)や連携は引き続き検討する」と述べた村山新社長の具体策が問われる。取引銀行との再調整も課題だ。

Meanwhile, Mitsui Engineering, whose business performance is sluggish, has a rocky road ahead.
 一方、業績が低迷している三井造船の前途は多難である。

The government revealed its policy to support industrial reorganization as a measure to enhance competitiveness of Japanese companies. However, the failed merger negotiations between Kawasaki Heavy and Mitsui Engineering proves that industrial organization is never an easy job.
 政府は、競争力強化策として産業再編を支援する方針を示した。だが、川崎重工と三井造船の交渉破談は、再編が決して容易ではないことを浮き彫りにしている。

(From The Yomiuri Shimbun, June 16, 2013)
(2013年6月16日付 読売新聞)

2013/06/17

東京都議選告示 参院選を占う先行指標となる

The Yomiuri Shimbun June 15, 2013
Tokyo assembly poll foreshadows result of upper house elections
東京都議選告示 参院選を占う先行指標となる(6月14日付・読売社説)

The results of the June 23 Tokyo Metropolitan Assembly election, with about 10 million voters, will be a harbinger of results in the House of Councillors election scheduled for next month.
 有権者約1000万人の首都決戦は来月の参院選の先行指標となる。

A major issue in the metropolitan assembly election will be what judgment parties make on Abenomics, the economic policy of Prime Minister Shinzo Abe’s government.
 安倍政権の経済政策である「アベノミクス」をどう評価するかが大きな争点となろう。

The official campaign period for the election starts Friday. However, the de facto election campaign is already overheating, with presidents and senior officials of political parties running to and fro in Tokyo.
 東京都議選が、きょう告示される。各党の党首、幹部クラスがすでに都内を走り回るなど、事実上の選挙戦が過熱している。

The metropolitan assembly election attracts a lot of attention because in the past it has often foreshadowed the results of national elections held soon afterward.
 都議選が注目されるのは、直後の国政選と連動することが多いからだ。

Will history repeat?

In the previous metropolitan assembly election of 2009, for instance, the Liberal Democratic Party suffered a crushing defeat while the Democratic Party of Japan made a remarkable breakthrough to become the assembly’s largest group. It was as if the poll projected the results of the House of Representatives election the following month, which brought about a change of government.
前回2009年は、自民党が大敗し、民主党が躍進を遂げて都議会最大会派となった。翌月の衆院選での政権交代を告げるような結果だった。

In the upcoming metropolitan assembly election, the LDP is trying to become the largest party in the assembly again and to secure a stable majority with its partner New Komeito.
 今回、自民党は都議会第1党の座を奪還し、公明党とともに、安定した与党勢力の確保を目指している。

Their success or failure will likely predict whether the two parties will win a majority of seats in the upper house election, thus ending the divided Diet in which opposition parties control the upper house.
参院選で過半数の議席を自公で獲得し、衆参「ねじれ国会」を解消できるかどうかを占うことにつながろう。

“[Abenomics] has drastically changed the dark, thick cloud and [negative] atmosphere that had covered Japan,” Abe said during a street speech in Tokyo. “If we keep this course, the economy will grow without doubt.”
 安倍首相は都内の遊説で、アベノミクスについて、「日本を覆っていた暗く厚い雲、空気が大きく変わった。この道を進めば、間違いなく経済成長させていくことができる」と訴えた。

The so-called third arrow of his economic policy, following bold monetary easing and flexible fiscal policy, is growth strategy. Since its outline has only just been announced, it should be allowed time to bear fruit.
 ただ、大胆な金融緩和、機動的な財政政策に続く「第3の矢」の成長戦略は発表した直後で、成果が出るのはこれからだ。

However, what kind of road map to economic recovery is the LDP going to draw? The party needs to provide more detailed explanations.
自民党は、経済再生への道筋をどう描くのか、丁寧な説明が必要だ。

Meanwhile, DPJ President Banri Kaieda stressed risks of Abenomics during his street speech. Abenomics “will raise prices, increase people’s burdens and destroy their livelihoods,” he said.
 民主党の海江田代表は街頭演説で、アベノミクスについて、「物価が上昇し、国民の負担が増え、生活を破壊する」と、そのリスクを強調した。

However, if he only stresses the disadvantages of Abenomics, it will not constitute convincing criticism. We hope Kaieda will engage in a substantial debate with the LDP by presenting a specific counterproposal to Abenomics.
 だが、マイナス面を強調するだけでは説得力のある批判とはいえまい。具体的な対案を示して深みのある論戦を展開してほしい。

Nippon Ishin no Kai (Japan Restoration Party) is losing steam due to remarks by its coleader Toru Hashimoto on so-called comfort women. Your Party, which had been building a coalition with Ishin no Kai, decided to cancel their cooperation in the metropolitan assembly election after Hashimoto made the remarks. The same situation is seen in the upper house election. Attention should be focused on what judgment voters will make on the so-called third force political parties.
 日本維新の会は、橋下共同代表によるいわゆる従軍慰安婦問題の発言を巡り、失速気味だ。共闘体制を構築してきたみんなの党は、選挙協力を解消した。参院選も同じ構図だ。「第3極」に対する有権者の判断が注目される。

In the metropolitan assembly, the LDP and Komeito are ruling parties supporting Tokyo Gov. Naoki Inose’s government. The DPJ, the largest group in the assembly, is also strengthening its position as a quasi-ruling party.
 都議会で、自公両党は猪瀬直樹知事の都政を支える与党だ。最大会派の民主党も与党的な立場を強めている。

There thus appears to be no major issue of local Tokyo politics on which the election is likely to turn. How will voters without any party affiliation, who abound in urban areas, respond to the situation? Low voter turnout is one troubling possibility.
それだけに、都政に関しては大きな争点がない。都市部に多い無党派層がどう動くか。投票率の低下も懸念される。

Tokyo facing challenges

In fact, however, the metropolitan government faces more than a few challenges. One of them is to make Tokyo more resistant to natural disasters as soon as possible. For instance, the metropolitan government must make a plan to deal with the huge number of people who would be unable to go home due to paralysis of public transportation after a major earthquake. It also must take fire prevention measures in residential areas crowded with wooden buildings.
Another urgent task for the metropolitan government is to reduce the number of children waiting to enter public day care centers and develop facilities for the elderly.
 しかし、都の抱える課題は少なくない。帰宅困難者対策や木造住宅密集地の解消などの防災面をはじめ、待機児童対策、高齢者施設の整備などは急務だ。

The metropolitan assembly election should be considered as an opportunity to think not only about Tokyo’s relationship with national politics but also about those specific challenges the nation’s capital is facing.
 都議選を、国政の関連だけではなく、そうした首都の現状を考える機会ともすべきである。

(From The Yomiuri Shimbun, June 14, 2013)
(2013年6月14日01時35分  読売新聞)

2013/06/16

株価急落 相場の変動に振り回されるな

The Yomiuri Shimbun June 15, 2013
Govt, BOJ must stay calm in face of fast-changing market trends
株価急落 相場の変動に振り回されるな(6月14日付・読売社説)

Reflecting the turbulent moves of speculative money on world markets, erratic fluctuations in this country of both stock prices and exchange rates have continued.
 世界的な投資マネーの激しい動きを受け、株価と円相場の乱高下が止まらない。

Confronted with this situation, the government and the Bank of Japan must remain calm and steadily push ahead with down-to-earth economic policies.
 政府と日銀は浮足立たず、地に足の着いた経済政策を推進すべきである。

The 225-issue Nikkei index on the Tokyo Stock Exchange fell sharply Thursday, ending the day at 12,445, down 843 points from Wednesday’s close. The yen’s appreciation, on the other hand, advanced, briefly hitting the 93 yen level against the dollar.
 東京市場は13日、平均株価が前日比843円安の1万2445円に急落した。円相場も一時、1ドル=93円台まで円高が進んだ。

The Nikkei average, however, is still more than 2,000 points higher than it was when Prime Minister Shinzo Abe launched his second administration in late December.
 とはいえ、平均株価は第2次安倍内閣が発足した昨年12月下旬より2000円以上も高い。

3rd arrow fired

The recent strengthening of the yen is not so painful as to deal a heavy blow to export-oriented industries. It should be noted that a stronger yen has the favorable effect of stemming rises in import prices.
 円高は輸出企業に打撃を与える水準ではなく、輸入物価の高騰を抑えるプラス面もある。

The government has mapped out the nation’s growth strategy, meaning that all three arrows of the Abe Cabinet’s Abenomics business stimulus package have been fired.
 政府が成長戦略を策定し、安倍政権の経済政策「アベノミクス」は3本の矢がそろったばかりだ。

Overreacting to market trends could cause declines in confidence in the government and the central bank, and threaten market turmoil.
ここで市場の動きに過剰反応すれば、政府と日銀の政策に対する信認が揺らぎ、かえって混乱に拍車をかけかねない。

Abe and Bank of Japan Gov. Haruhiko Kuroda met Thursday to discuss the economic situation prior to the Group of Eight summit scheduled to open in Britain on Monday.
 この日は、安倍首相と黒田東彦日銀総裁が会談し、17日から英国で開かれる主要8か国首脳会議(G8サミット)を前に、経済情勢について意見交換した。

Kuroda was quoted as explaining to the prime minister that the current pace of Japan’s economic recovery “has gradually becoming more buoyant than before.” In response, Abe was quoted as saying the government would take its “share of responsibility by steadfastly implementing growth strategies and relevant policy measures.”
 黒田総裁が「日本経済は、回復の足取りが次第に力強くなっている」と説明したのに対し、首相は「成長戦略など政府の役割をしっかり果たす」と決意を示した。

Their views can be said to represent a correct assessment of the current state of the economy.
妥当な現状認識と言える。

The stock market plunge was attributed to the perception by the market that U.S. Federal Reserve Board Chairman Ben Bernanke may have hinted the Fed would wind down its ultra-easy monetary policy sooner than expected.
 そもそも最近の株安は、米連邦準備制度理事会(FRB)のバーナンキ議長の発言が、超金融緩和策の縮小を示唆したと受け止められたことがきっかけだ。

This led market players to move funds away from risky assets such as stocks.
 世界の投資資金が株式などのリスク資産から流出し始めた。

Foreign investors who purchased Japanese stocks in large quantities have started to sell their shareholdings. In addition, speculative moves intended to drive down stock prices and high-speed, automated transactions are two other factors considered responsible for the market plunge.
日本株を大量に買った海外投資家が売りに転じ、売り崩しを狙う投機筋の動きや、コンピューターで瞬時に売買が成立する高速取引の普及などの要因も重なった。

Trying to control the global flow of money simply through Japan’s domestic policy measures is extremely difficult.
 世界的な資金の流れを、日本国内の政策でコントロールしようとしても難しい。

It is incorrect to call the decline in stock prices the result of “insufficiencies in growth strategies” needed to revitalize the economy.
 株安の原因を「成長戦略が踏み込み不足だから」などと決めつけるのは的外れだろう。

However, the government should be partly blamed for misleading the public. When stock prices were on the rise until late May, the prime minister and ministers in charge of economic affairs repeatedly stressed that this was due to the “fruit of Abenomics.” They must engage in serious soul-searching over the new development, as the declines in stock prices could be deemed as representing a failure of the government’s economic policies.
 ただ、誤解を生んだ責任は政権側にもある。5月までの株高を、首相や経済閣僚が「アベノミクスの成果」と強調する場面が目立った。その裏返しに、株安の原因が政策の失敗と見なされやすくなることを、肝に銘じるべきだ。

Vigilance rather than action

Earlier this week, rumors spread that the Bank of Japan might hammer out measures to stabilize long-term interest rates. As soon as it was learned that the central bank has no such intention, the yen began to appreciate and stock prices dived.
 今週は日銀が長期金利の安定化策を打ち出すとの観測が強まり、その実施が見送られるや、円高・株安に振れた。

The stock and financial markets appear to be “wooing” the central bank to come up with additional financial measures to stabilize the markets.
追加策を“催促”するような相場展開である。

It is inadvisable for the bank to adopt any measures that kowtow to market pressures.
 催促されるまま追加策を講じるのは得策ではない。

However, vigilance over market trends must be the order of the day.
今は市場動向を油断なく注視すべき局面だ。

(From The Yomiuri Shimbun, June 14, 2013)
(2013年6月14日01時35分  読売新聞)

2013/06/15

薬のネット販売 安全性と利便性両立が必要だ

The Yomiuri Shimbun June 14, 2013
Regulation of online drug sales should promote safety, convenience
薬のネット販売 安全性と利便性両立が必要だ(6月13日付・読売社説)

We believe the government’s decision regarding the online sales of nonprescription drugs must please people who have limited means of transportation, such as the disabled and the elderly, and those who live on remote islands or in mountainous areas that lack pharmacies.
 移動手段が限られる障害者や高齢者、薬局のない離島・山間部の住民にとって朗報だろう。

The government will mandate in its growth strategy, which is scheduled to be approved by the Cabinet on Friday, the lifting of a ban on online sales of nonprescription drugs, with certain exceptions.
 政府は14日に閣議決定する成長戦略に、市販薬のインターネット販売の原則解禁を明記する方針だ。

Under the plan, regulations on online sales of nonprescription drugs will be significantly relaxed. Currently, only a limited number of drugs are allowed to be sold online, but consumers will soon be able to purchase most of the 11,400 existing nonprescription drugs through the Internet.
 一部の薬だけだったネット販売の規制が大幅に緩和される。市販薬約1万1400品目のほとんどがネットで買えるようになる。

Although the economic impact of the move remains uncertain, the government expects the plan will be a symbol of its regulatory reform efforts.
 ネット解禁による経済波及効果は未知数だが、規制改革の象徴的な意味合いがある。

The lifting of the ban was prompted by a Supreme Court ruling in January. The top court concluded that the Health, Labor and Welfare Ministry’s ordinance banning online sales of drugs--except for a few drugs said to have a low risk of side effects--was “illegal and invalid.”
 今回の規制緩和の契機になったのが、今年1月の最高裁判決だ。副作用の恐れが低いとされる一部の薬を除き、ネット販売を禁止してきた厚生労働省の省令について「違法で無効」と判断した。

The top court said the Pharmaceutical Affairs Law contained no clear indication that nonprescription drugs must be sold face-to-face. Currently, nonprescription drugs are required to be sold at drugstores through pharmacists or registered vendors.
 薬事法からは、薬剤師らによる対面販売を義務付けることは読み取れないとの理由だった。

The growth strategy said the safety of drugs should be discussed rationally and objectively, regardless of whether drugs are sold online or face-to-face, an apparent reflection of the judicial decision. We believe it is absolutely necessary to get rid of excessive regulations.
 成長戦略が、薬の安全性は「ネット販売か対面販売かを問わず合理的、客観的に検討すべきだ」と指摘するのは、こうした司法判断を踏まえた見解だろう。過剰な規制を取り払うのは当然だ。

There has been research suggesting that the quality of communication conducted via the Internet is not necessarily inferior to that of face-to-face communication.
 インターネットによる情報伝達が対面より劣るとは言えない、との研究報告もある。

Some regulations necessary

However, we should not overlook a problem that emerged after the January ruling. Many companies have entered the online drug sales market since then. As a result, the ban on online sales has in effect dissolved along with the restrictions.
 問題は、最高裁判決の後、市販薬のネット販売に多数の業者が参入し、実質的に全面解禁状態になっていることである。

The possibility of nonprescription drugs causing serious side effects is extremely low. However, 24 cases of death resulting from nonprescription medication have been reported in the five years since fiscal 2007.
 市販薬による重い副作用が起きる確率は極めて低いものの、2007年度から5年間で計24件の死亡例が報告されている。

If massive amounts of nonprescription drugs are sold carelessly over the Internet, the risk of accidents will rise. Of course, the same can be said of over-the-counter sales, but we believe a certain amount of regulation of online sales of such drugs is necessary.
 安易に大量販売が行われれば、事故の危険性も高まる。対面販売でも事情は同じだが、一定のルールは必要ではないか。

It was thus appropriate for the government to keep some exceptions to the ban on online sales of nonprescription drugs in tact. Due to safety considerations, the government said experts will further discuss the handling of 25 drugs, such as Loxonin, a prescription antipyretic-analgesic drug that was recently recategorized as a nonprescription drug.
 政府がネット販売解禁にあたって、例外を設けたのは理解できる。安全性を確保するため、医師の処方薬から市販薬に転用されて間もない解熱鎮痛剤「ロキソニン」など25品目については、さらに専門家で扱いを検討するとした。

Learn from foreign examples

The government said it will draw a conclusion on such drugs by the end of autumn, and aims to build a framework for them that is similar to the system for general nonprescription drugs, but which also promotes their careful sale and use. We want to remind the government of the importance of establishing a system that does not confuse consumers.
 「処方薬に準じた形での慎重な販売や使用を促すための仕組み」について、秋ごろまでに結論を出すという。消費者に混乱を招かないよう配慮してもらいたい。

It seems that counterfeit drugs are being sold through some websites that sell privately imported drugs. The government must work out measures to effectively monitor such malicious businesses and eradicate them.
 薬を海外から個人輸入するネット販売では、偽造薬も出回っている。こうした悪質業者をいかに監視・排除するかである。

Britain is a good example to follow. The British government has already lifted its ban on online medicine sales. Business entities there are required to register with a pharmacist organization and obtain a mark of certification.
 例えば、薬品のネット販売を解禁している英国は、業者が薬剤師の団体に登録し、認証マークを取得することを求めている。

The government must make wholehearted efforts so that the safety and convenience of consumers will be achieved simultaneously.
 政府は消費者の安全性と利便性の両立を図るために、知恵を絞らねばならない。

(From The Yomiuri Shimbun, June 13, 2013)
(2013年6月13日01時27分  読売新聞)

2013/06/14

トルコのデモ 首相の強権姿勢が反発招いた

The Yomiuri Shimbun June 13, 2013
Erdogan's heavy-handed policies fan flames of unrest in Turkey
トルコのデモ 首相の強権姿勢が反発招いた(6月12日付・読売社説)

In Turkey, which Prime Minister Shinzo Abe visited a month ago, police have fired tear gas and water cannons at demonstrators to quell protests calling for the resignation of Turkish Prime Minister Recep Tayyip Erdogan that have continued for more than 10 days.
 1か月前に安倍首相が訪れたトルコで、エルドアン首相の退陣を求めるデモが10日以上も続き、警察が催涙弾と放水で強制排除に乗り出した。

The protests have brought turmoil to the country, leaving several people dead. We hope the serious unrest will be brought under control as soon as possible.
 デモの混乱で死者も出ており、深刻な事態が続いている。一日も早い収拾が望まれる。

Turkey is a strategically important regional power that borders civil war-hit Syria and Iraq, which is in the middle of national rebuilding. If Turkey’s political uncertainty becomes prolonged, its burgeoning economy could suffer a setback. The unrest could also deal a blow to efforts to stabilize the Middle East.
 地域大国のトルコは、内戦が続くシリアや再建途上のイラクと国境を接する要衝だ。政情不安が長引けば、好調だった自国経済への打撃になるばかりか、中東地域の安定化にも影響が出かねない。

The protests were triggered by a heavy-handed crackdown that involved the use of tear gas by police during a protest against a redevelopment plan for a park in the nation’s largest city of Istanbul.
 デモのきっかけは、最大都市イスタンブールの公園の再開発計画に反対する集会を、警察が催涙弾で鎮圧しようとしたことだ。

Angry demonstrators, mostly young people, have harnessed the Internet to call on people to rise up, causing the number of antigovernment protesters to swell into the tens of thousands. The protests have since spread to the capital of Ankara and other cities.
 怒った若者らがインターネットで呼びかけ、数万人規模にふくれあがった。首都アンカラなど他の都市にも広がっている。

Results oriented leader

Despite the criticism, Erdogan has delivered results by rebuilding his country’s economy. In the decade since he took office, Turkey’s gross domestic product has more than doubled, and the nation has raised its international status and become one of the Group of 20 major economies.
 ただ、エルドアン首相は経済再建で実績を上げている。就任以来の10年で、トルコの国内総生産(GDP)は2倍以上になり、主要20か国・地域(G20)の一員として、国際的地位も向上した。

Turkish people apparently gave credit to Erdogan’s achievements, as his Justice and Development Party, a moderate Islamic party, overwhelmingly won in general elections in 2007 and 2011. It is understandable that the prime minister is confident in keeping his administration in power.
 首相が率いる穏健イスラム政党の公正発展党が2007年と11年の総選挙で大勝したのも、高い評価の表れである。首相が政権維持に自信を持つのは理解できる。

However, it is evident that public frustration has grown especially among secular people over his Islamic policy and perceived autocratic political style.
 だが、イスラム色が強い政策と強権的な政治手法に、特に、世俗派の国民が不満を強めているのは明らかだ。

Since its foundation in the 1920s, Turkey has applied the principle of secularism, separating religion from politics.
 トルコは、1920年代の建国以来、政治と宗教を分離する世俗主義を国是としてきた。

But the recent enactment of a law banning alcohol sales from 10 p.m. to 6 a.m. has increasingly alarmed secular opponents that the law was enacted to uphold Islamic values.
 最近、酒類販売を午後10時から午前6時まで禁じる法律が成立したことに、世俗派は、イスラム的な価値観に基づく立法だと、一層危機感を募らせている。

In the wake of incidents such as the arrests of journalists critical of the government, questions also have been raised over freedom of speech in the country. Some protesters have criticized Turkey’s media as reporting from a pro-government viewpoint.
 政府に批判的なジャーナリストが逮捕されるなど、言論の自由にも疑問符がつく。デモ参加者は国内メディアを「政府のご用聞き」とも批判した。

Authority challenged

According to his party’s rules, Erdogan, who is serving a third term, is supposed to step down as prime minister after the current term. However, there has been speculation that he will seek the presidency after beefing up the presidential authority by amending the Constitution.
 在任3期目の首相は、党規則によれば今期限りで退くことになるが、憲法改正で大統領権限を強化した上で、大統領に転身するのでは、との疑念がつきまとう。

Referring to protesters as “looters,” Erdogan remains defiant, urging loyalists of his party to take part in rallies in Ankara and Istanbul to counter antigovernment protests.
 首相自身、デモ参加者を「ならず者」と非難し、反政府デモに対抗する集会をアンカラとイスタンブールで開くとして、与党支持者に参加を呼びかける強硬な姿勢を崩していない。

Such a firm stance has fueled concern that the confrontation between secularists and supporters of the ruling party will intensify.
 世俗派と与党支持層の対決色が強まることが憂慮される。

Will Erdogan be able to avert further splits in society by listening to the voices of secular people, whose frustration has turned into protests? His ability to handle this incident will no doubt be tested.
 デモに表れた世俗派の不満に耳を傾け、社会の分裂を回避することはできるのか。首相の舵(かじ)取りが問われよう。

(From The Yomiuri Shimbun, June 12, 2013)
(2013年6月12日01時18分  読売新聞)

2013/06/13

米中首脳会談 力に依存しては共存できない

The Yomiuri Shimbun June 12, 2013
China's reliance on force hampers its pursuit of coexistence with U.S.
米中首脳会談 力に依存しては共存できない(6月11日付・読売社説)

For stability in the Asia-Pacific region, it is essential that the United States and China--the world’s sole superpower and the second-largest military and economic power--take confidence-building measures.
 超大国の米国と世界第2位の軍事・経済大国である中国が信頼醸成を図ることは、アジア太平洋の安定に欠かせない。

Chinese President Xi Jinping visited the United States and met with U.S. President Barack Obama at a retreat in California. It is unusual for a Chinese president to visit the United States only three months after his inauguration to meet with a U.S. president.
 中国の習近平国家主席が米国を訪問し、オバマ大統領とカリフォルニア州の保養施設で会談した。中国の国家主席が就任後わずか3か月で訪米し、米大統領と会談したのは異例だ。

Through eight hours over two days, the two leaders discussed a new cooperative bilateral relationship. They agreed to step up pressure on North Korea over its nuclear programs and promote measures to address global warming. But their differences in intentions were conspicuous.
 2日間計約8時間にわたる会談を通じ、両首脳は米中両国の新たな協力関係を巡って協議した。北朝鮮の核問題での圧力強化や地球温暖化対策推進で一致したが、思惑の違いも目立った。

The “new model for a relationship between major countries” that Xi is seeking is a relationship with the United States on an equal footing, in which both sides respect each other’s social systems and core interests. Close attention should be paid to Xi’s remarks during the talks that “the vast Pacific Ocean has enough space for the two large nations of China and the United States.”
 習氏が目指す「新型の大国関係」とは、相互の社会制度や「核心的利益」を尊重する、米国と対等の関係である。会談で習氏が「広大な太平洋には両大国を受け入れる十分な空間がある」と語ったことには注意を払わねばならない。

Obama, for his part, called for a “peaceful rise” of China based on the premise that it abide by international rules.
 これに対し、オバマ氏は国際ルールの順守を前提にした「平和的な台頭」を中国に求めた。

Cybersecurity concerns

Xi also requested information regarding U.S.-led Trans-Pacific Partnership multilateral trade talks. Beijing apparently is wary that the envisaged trade framework could effectively contain China.
 習氏は、米国主導の環太平洋経済連携協定(TPP)交渉に関する情報提供も要請した。対中包囲網への警戒感があるのだろう。

Obama expressed concerns regarding the focal issue of cyber-attacks seeking illegal access to data, saying resolving cybersecurity issues would be key to the future of U.S.-China economic relations. His remarks are based on suspicions voiced in the United States that the Chinese government is involved in such activities.
 焦点のサイバー攻撃による情報不正入手問題で、オバマ氏は、中国政府が関与しているとの米側の疑念を背景に、「この問題の解決は米中経済関係の将来のカギを握る」と懸念を示した。

As long as Xi insists that China is also “a victim of cyber-attacks,” Beijing should take measures to block hacking in cooperation with the United States.
 習氏が「中国は被害者だ」と強調する以上、不正入手阻止の対策を米国と進めてもらいたい。

As for the Japan-China confrontation over the Senkaku Islands in Okinawa Prefecture, Obama called for dialogue through diplomatic channels rather than actions on the East China Sea. This was meant to persuade China--which continues its saber-rattling by allowing its marine surveillance ships and other vessels to enter Japan’s territorial waters near the Senkaku Islands--to exercise self-restraint.
 沖縄県・尖閣諸島を巡る日中対立について、オバマ氏は「東シナ海での行動ではなく、外交ルートを通じた対話」を求めた。海洋監視船などを尖閣周辺の日本領海に侵入させる示威行動をやめない中国に自制を迫ったものだ。

But Xi said he hopes those concerned, apparently referring to Japan among others, will stop taking provocative actions and promptly return to a track of settling problems appropriately through dialogue. This is an extremely self-serving stance. It is China that must restrain its excessive provocations.
 だが、習氏が逆に日本などを念頭に、「挑発を停止し、対話を通じ適切に問題を解決する軌道へ早期に戻るよう望む」と語ったのは身勝手に過ぎる。中国こそ、過激な挑発行動を控えるべきだ。

Must behave responsibly

China’s attempts to unilaterally expand its maritime interests in the East China Sea and the South China Sea appear to contradict the “peaceful development” policy it vocally advocates.
 中国が「核心的利益」とみなして、東シナ海や南シナ海で一方的に海洋権益拡大を図っているのは、自らが標榜(ひょうぼう)する「平和発展」に矛盾する行動ではないか。

If China seeks an equal relationship of coexistence with the United States, it must behave responsibly to achieve that end. Complying with international rules is a minimum obligation for Beijing.
 米国と対等の共存関係を主張するなら、それに見合った責任ある態度が求められる。国際ルールの順守は最低限の義務である。

The Japanese and U.S. governments are planning to set up a bilateral summit meeting to coincide with an upcoming Group of Eight summit meeting of major nations. Japan needs to reconfirm the importance of the Japan-U.S. alliance without lowering its guard against China, which is trying to reassure itself that it is indeed a major nation by relying on its mighty power.
 日米両政府は、主要8か国首脳会議(G8サミット)に合わせて首脳会談を開く方向だ。日本は、力に依存した大国意識を高める中国への警戒を緩めず、日米同盟の重要性を再確認する必要がある。

(From The Yomiuri Shimbun, June 11, 2013)
(2013年6月11日01時18分  読売新聞)

2013/06/12

中国・欧州摩擦 世界経済を損なう不公正貿易

The Yomiuri Shimbun June 11, 2013
Unfair trade practices, protectionism hurting growth of world economy
中国・欧州摩擦 世界経済を損なう不公正貿易(6月9日付・読売社説)

International trade disputes have been erupting frequently. It is important to correct unfair trade practices and revitalize the world economy.
 貿易を巡る国際紛争が頻発している。不公正な貿易慣行は是正し、世界経済を活性化させることが重要である。

The European Union recently reached a provisional decision to impose antidumping levies on imports of Chinese solar panels in two stages, saying that Chinese firms are exporting them at improperly low prices.
 欧州連合(EU)は、中国企業が太陽光パネルを不当に安値で輸出しているとして、中国製パネルに2段階で反ダンピング(不当廉売)関税をかける仮決定を下した。

The EU will impose a tariff of about 12 percent on imported Chinese solar panels until early August, and increase this to an average of 48 percent later if Beijing does not take corrective measures to resolve the issue. The EU will decide by the end of the year on whether to keep the levies in place.
 8月初めまで約12%を課税し、中国側が是正措置を取らない場合は約48%に引き上げる。EUは年末に最終決定する方針だ。

According to the EU, Chinese exporters sell their solar panels for as much as 90 percent below a fair market price. They have apparently been trying to increase sales in the EU market, the biggest export market for their products, with scant regard for making a profit.
 EUによると、中国企業は市場価格より9割も安値で販売していた。採算を度外視しても、最大の輸出先であるEU市場に販売を拡大する狙いだったようだ。

Battered by China’s low-priced sales drive, business conditions for their European counterparts have deteriorated. Some have gone bankrupt.
 安値攻勢にさらされて経営が悪化し、倒産に追い込まれた欧州企業も出ている。

EU position understandable

We can understand the EU stance of trying to rectify an unfair trade practice, in line with international rules of the World Trade Organization.
EUが世界貿易機関(WTO)の国際ルールに沿って、不公正貿易慣行の是正を目指す姿勢は理解できる。

The EU will impose a low tariff in the first stage, as it attempts to elicit concessions from China amicably. It also took into account the caution some member nations such as Germany feel about taking tough measures against Beijing.
 EUが第1段階として低率関税をかけるのは、対中強硬策に慎重なドイツなどメンバー国に配慮する一方、中国から穏便に譲歩を引き出したいとの判断がある。

However, China reacted sharply and announced it would launch an investigation into the possible dumping of European wine on its market. This appears to be a tit-for-tat response.
 だが、中国は反発し、EU産ワインのダンピング調査を発表した。対抗措置とみられる。

As it remains uncertain whether European wine exports actually caused any actual loss to the Chinese market, Beijing’s forceful action can hardly be considered as adhering to international rules.
実害があるのか不透明なだけに、中国の強硬姿勢は、国際ルール逸脱と受け止められても仕方ない。

China and the EU also are at loggerheads over China-made mobile telecommunications equipment. The EU has launched an investigation into possible dumping by Chinese makers. The current situation could degenerate into the mutual imposition of sanctions.
 中国とEUは、中国製の通信機器でも対立し、EUがダンピング調査に入った。制裁の応酬に発展しかねない事態である。

EU countries and China have become key trading partners. Should their trade conflict escalate, it would adversely affect the global economy. We hope the EU and China try to settle their disputes as soon as possible through dialogue.
 欧州と中国は互いに主要な貿易相手になっている。対立がエスカレートすれば、世界経済にも悪影響が及ぼう。対話を通じ、早期収拾を目指してもらいたい。

The growing trend toward protectionism in various parts of the world is a cause for concern. This is apparently designed to assist domestic industries while the world economy dawdles toward a full-fledged recovery and some newly emerging economies face a slowdown in growth.
 懸念されるのは、世界経済の本格回復が遅れ、新興国の成長が減速する中、自国産業の支援を意図した保護貿易主義的な動きが各地で強まっていることだ。

Japan claim upheld

In May, the WTO upheld Japan’s claim against a controversial feed-in tariff program introduced by the Canadian province of Ontario. Only companies that meet certain local content levels for renewable energy-related equipment can take part in the program, in which electricity generated from renewable energy sources is sold to power companies at fixed prices.
The WTO ordered the province to take corrective measures.
 カナダ・オンタリオ州が再生可能エネルギーの固定価格買い取り制度で地元企業を優遇した措置について、WTOは5月、不当だとする日本の主張を認め、カナダに是正を勧告した。

Japan, together with the United States and the EU, have filed claims against China’s export controls on rare earth minerals, as well as Argentina’s import permission system for certain goods, such as automobiles. They referred the issues to the WTO because they wanted action to correct these unfair trade practices.
 日本は米国、EUとともに、中国のレアアース(希土類)の輸出制限措置や、自動車などを対象にしたアルゼンチンの輸入許可制度についても、不公正措置と問題視し、WTOに是正を訴えた。

The rise of trade protectionism is detrimental to development of the world economy. Japan has to devise a strategy to cooperate with the United States and European countries, while holding on to the WTO rules as fundamental to promoting the global economy.
 保護貿易主義の台頭は、世界経済の発展にマイナスだ。自由貿易推進へ、日本は今後もWTOルールを基本とし、米欧と連携する戦略を練らねばならない。

(From The Yomiuri Shimbun, June 9, 2013)
(2013年6月9日01時45分  読売新聞)