Historical Dictionary of United States-Japan ... - Bakumatsu Films

JAPAN–U.S. FLEET LOAN AGREEMENT • 127
JAPAN–U.S. ECONOMIC PARTNERSHIP FOR GROWTH. At a
summit in June 2001, President George Bush and Prime Minister Junichiro
Koizumi agreed to initiate the Japan–U.S. Economic Partnership
for Growth. Its primary purpose was to promote sustainable
growth in both countries and in the world as a whole. For this grand
purpose, they agreed to set up a “Subcabinet Economic Dialogue” in
order to conduct strategic dialogues; a “Private Sector/Government
Commission” in order to have lively dialogue with civilian business
groups; a “Regulatory Reform and Competition Policy Initiative” to
form a more liberal economic system; a “High-Level Officials Group”
to discuss specific themes in specific sectors, such as telecommunications,
information technology, energy, and medical devices/pharmaceuticals;
a Financial Dialogue to deal with financial and fiscal issues;
an Investment Initiative to discuss issues regarding investment and
corporations; and a Trade Forum to give early warning on possible
U.S.–Japan trade conflicts.
JAPAN–U.S. FLEET LOAN AGREEMENT. The Japan–U.S. Fleet
Loan Agreement was signed by the Japanese Self-Defense Forces
(JSDF) and the U.S. Army on 14 May 1954. The agreement made it
possible for the U.S. Army to lend vessels from the U.S. fleet to
Japan. When the Korean War broke out in June 1950, the Marine
Guard was separated from the Japan Coast Guard and became an independent
agency on 26 April 1952. It later developed into the Maritime
Self-Defense Forces (MSDF), established on 1 July 1954. During
the Cold War era, as Japan was allied with Western nations, the
MSDF had to assist the U.S. Navy by being prepared to combat submarines
and naval mines in Northeast Asia. When World War II
had ended, the 58 Japanese submarines left in Japan were seized by
the Allied countries. They were destroyed or sunk in the Pacific
Ocean. Because Article Nine of the Japanese constitution prohibits
Japan from maintaining military forces capable of engaging in
forward defense in order to solve international disputes, the construction
of new submarines lagged behind the construction of destroyers
and escort ships. Consequently, the cooperation of the U.S.
Navy was necessary for contributing a minimum number of submarines.
Based on this agreement, in August 1955, the United States
loaned Mingo, a fleet-type submarine, to Japan and it was renamed