About six months ago, there were talks about the “2008 Issue.” The possibility of global instability was suggested, due to a series of important elections throughout the world concentrated in the period from the end of 2007 into 2008.

Now things seem to be turning out otherwise, however. In both Korea and Taiwan, the presidential elections were concluded in a way that promotes stabilization both within them and around them.

President Lee Myung Bak of Korea has corrected the previous administration’s excessive slant toward North Korea and China, and has restored its relations with Japan and the United States. In Taiwan, Ma Ying-jeou, who has committed himself to maintaining the status quo whereby Taiwan is neither merged with mainland China nor fully independent, was elected president. It seems safe to say that the balance of power among the countries and regions of East Asia is now set on a more stable foundation.

Up until now, we in Japan have spent much time lamenting over “the continual decline of Japan’s international position.” Lack of expansion in the Japanese economy has resulted in more pronounced infighting in Japan, and even a decline in governance.

I now sense, however, that the tide may be changing. The aforementioned state of affairs of East Asia provides Japan with an opportunity to speak up. It is time for Japan to go the extra mile to ensure that China, currently facing economic problems and the Tibet issue, can make a proper entrance into the modern international community.

We hope that around the G8 Summit, Prime Minister Yasuo Fukuda of Japan will speak up on the current state and future direction of East Asia. We want Japan to work on policies for maintaining the political status quo, ensuring economic prosperity, and promoting democracy in the region. These policies will become a legacy for the next generation as the “New Fukuda Doctrine.”

Although there is instability in Japan’s domestic politics, we still have capacity and sensibility to ponder about the desirable international framework in Asia, in which the status quo will be maintained and economic prosperity will be ensured.

The timing is important, since the US presidential election, the biggest election of all, is still to come. We believe that Japan can play a role in reminding the new administration of the importance of Asia as a region. Creating a regular framework in which East Asian countries can talk to each other and the USA, we might be able to avoid such a situation in which populist domestic politics bring fluctuations in their policy toward East Asia.