VZCZCXRO9735
PP RUEHFK RUEHKSO RUEHNAG RUEHNH
DE RUEHKO #3041 3050658
ZNR UUUUU ZZH
P 310658Z OCT 08
FM AMEMBASSY TOKYO
TO RUEHC/SECSTATE WASHDC PRIORITY 8441
RUEKJCS/SECDEF WASHDC PRIORITY
RUCPDOC/USDOC WASHDC PRIORITY
RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY
RUYNAAC/COMNAVFORJAPAN YOKOSUKA JA PRIORITY
RHHMUNA/HQ USPACOM HONOLULU HI PRIORITY
RHHMHBA/COMPACFLT PEARL HARBOR HI//N541// PRIORITY
RHMFIUU/HQ PACAF HICKAM AFB HI//CC/PA// PRIORITY
RUHBANB/OKINAWA FLD OFC US FORCES JAPAN CP BUTLER JA PRIORITY
RHMFIUU/USFJ PRIORITY
INFO RUEHFK/AMCONSUL FUKUOKA 0713
RUEHNH/AMCONSUL NAHA 3071
RUEHNAG/AMCONSUL NAGOYA 8777
RUEHKSO/AMCONSUL SAPPORO 1287
RUEHOK/AMCONSUL OSAKA KOBE 4496
RUEHBJ/AMEMBASSY BEIJING 6139
RUEHMO/AMEMBASSY MOSCOW 2587
RUEHUL/AMEMBASSY SEOUL 2136
RUCNDT/USMISSION USUN NEW YORK 2361
RHEHAAA/NSC WASHDC
UNCLAS TOKYO 003041
SIPDIS
STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR,
EAP/J, EAP/P, PM;
USTR FOR PUBLIC AFFAIRS OFFICE;
TREASURY FOR OASIA/IMI;
SECDEF FOR OASD/PA;
CP BUTLER OKINAWA FOR AREA FIELD OFFICE;
PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR
E.O. 12958: N/A
TAGS: OIIP KMDR KPAO JA
SUBJECT: TOKYO MEDIA REACTION - U.S. ECONOMY
1. LEAD STORIES: All Friday morning papers gave top
play to the additional economic stimulus package
announced on Thursday by the Japanese government.
2. "U.S. Economic Slowdown Clear" The liberal Mainichi
wrote (10/31): "The U.S. announced on Thursday that its
economy shrank at a 0.3 percent annualized rate in the
July-September quarter this year, marking the first
downturn in three quarters. This clearly demonstrates a
slowdown in the U.S. economy, which caused the current
financial crisis. The economies of Japan, Europe, and
emerging nations are cooling due to declines in their
exports to the U.S. A worldwide recession is looking
more likely."
3. "U.S. to Compile Additional Economic Stimulus
Measures?" The business-oriented Nikkei stated (10/31):
"Following the Fed's decision on additional interest
rate cuts at its Open Market Committee on Wednesday, it
is increasingly likely that the USG will compile
additional economic pump-priming measures as soon as
year's end. The Democratic Party, which is expected to
win in the presidential and congressional elections on
November 4, is preparing an additional package and
plans to hold discussions on its size and contents as
early as mid-November. It is possible that the Federal
Reserve Board will make an additional move to ease the
money supply."
SCHIEFFER