[Congressional Record Volume 142, Number 46 (Friday, March 29, 1996)]
[House]
[Page H3174]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   WAKE UP TO JAPANESE TRADE DEFICIT

  (Mr. TRAFICANT asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. TRAFICANT. Mr. Speaker, 10 years ago the 10 biggest banks in the 
world were American banks. Today the 10 biggest banks in the world are 
Japanese banks, all 10. Even after the merger of America's 2 biggest 
banks, they did not even make the top 10.
  Wake up, Congress. Japanese banks did not get fat on the yen. 
Japanese banks got fat pigging out on American dollars. The trade 
deficit just came out last month. It skyrocketed 48 percent, a 48-
percent increase in 1 month, over $10.3 billion.
  Japan takes, America gives; Japan protects, America counsels; Japan 
regulates, America negotiates.
  Let us tell it like it is. If America's trade program was so good, 
why does Japan not try it?
  We are getting our clock cleaned, and we are not even talking about 
it. Think about that.

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