Bill summaries are authored by CRS.

Shown Here:
Passed House amended (07/20/1998)

Expresses the sense of the House of Representatives that Japan, because of its economic size, technological achievements, and democratic political system, should enhance alliance cooperation and raise its position of regional partnership by urgently: (1) undertaking broader and faster deregulation of its economy in order to promote opportunities for foreign firms (including foreign investment), improve transparency and disclosure, reward innovation and competition, and reduce systemic risk; (2) opening its distribution system to eliminate exclusionary and discriminatory business practices that limit imports and stifle economic growth and competition there; (3) honoring and implementing its bilateral trade agreements with the United States as well as its multilateral trade commitments; (4) addressing its fiscal problems in a manner that does not jeopardize economic recovery, including significant tax cuts, certain steps to solve systemic problems in the banking system, and a comprehensive stimulus package that restores economic confidence and avoids the traditional sectorally-oriented approach of the past; and (5) adopting all appropriate policies to strengthen the Japanese yen.