The second is that the role of China trade in Japanese economy, important as it is, has often been exaggerated, as proven by our experience of the past 6 years.

By perfecting this legislative machinery and by participating in the various international agreements we intend to contribute to the wholesome development of world trade.

I speak of the old Japan, because out of the ashes of the old Japan there has risen a new Japan.

Almost a century has passed since Japan first entered the world community by concluding a treaty of amity with the United States of America in 1854.

We are determined that our nation shall cease to be a burden on other countries but shall contribute positively to world prosperity, while observing fully the fair trade practices in international commerce.

There is fear as to whether Japan, reduced to such a predicament, could ever manage to pay reparations to certain designated Allied Powers without shifting the burden upon the other Allied Powers.

The second is that the role of China trade in Japanese economy, important as it is, has often been exaggerated, as proven by our experience of the past 6 years.