By Staff
NORTHWEST ASIAN WEEKLY
Consul General Yoichiro Yamada (left) and Director General Vincent Yao. (Photo by Assunta Ng)
The Seattle Rotary club hosted a panel on Feb. 21 with two senior diplomats who are members of the Seattle Rotary Club — Consul General Yoichiro “Giro” Yamada of Japan and Director General Vincent Yao of Taiwan. They shared their expertise on the Asia Pacific region from the perspective of their respective societies.
When asked about fair trade, Yamada said, “What you feel is fair — it varies from person to person. It should really mean a level playing field.”
Yao said, “In this globalized era, all countries are affected by, and benefit, from economic openness. In any future bilateral trade agreement, some sort of mechanism to revise the agreement is needed, because technology is evolving at a much faster pace than any trade negotiation.”
Both diplomats agreed that the United States is still a safe haven for Asian investment. The United States is the top investment destination for both Taiwan and Japan.
Yao said it’s because we share the same values. “The Trans-Pacific Partnership was actually a landmark agreement … built on decades of cooperation and shared values. It’s important to maintain some sort of economic integration among the U.S. and its most important allies and partners, so the U.S. can keep its leadership position in this region.”
For Japanese business, including car companies, Yamada said his countrymen look ahead to seven years or longer.
“Are the rules and regulations trustworthy, transparent, and predictable for at least seven years?” If so, then Japan will continue to invest.
He said the fact that the United States remains the number one investment destination for Japanese companies speaks to the trust in the stability of the U.S. business climate. “I’m sure it will be maintained because that’s where U.S. national interests lie.”
Staff can be reached at info@nwasianweekly.com.