[Weekly Compilation of Presidential Documents Volume 34, Number 39 (Monday, September 28, 1998)]
[Pages 1859-1861]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks During Discussions With Prime Minister Keizo Obuchi of Japan and 
an Exchange With Reporters in New York City

September 22, 1998

    President Clinton.  Let me say that I'm very sorry that the weather 
didn't permit us to go up to Tarrytown today, but I'm pleased to welcome 
Prime Minister Obuchi and his entire team here. I have also invited the 
Prime Minister to come back for an official visit early next year so 
that we can work very closely together on the challenges we face. The 
United States has no more important relationship in the world than our 
relationship with Japan, for common security concerns, to advance 
democracy and peace, and in our common economic endeavors.
    So we just had a good hour-long meeting, and we're going to have a 
couple of other sessions today, and then early next year we'll have 
another meeting.
    Prime Minister Obuchi.  I am very pleased to have this opportunity 
of having

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a discussion with President Clinton extensively on my first visit to the 
United States since I became the Prime Minister of Japan.
    This meeting of mine with the President I had earlier today brought 
home to me the importance of Japan and the United States working closely 
together. And although I am only 2 months in office and the President 
has experience--a wealth of experience of over 5\1/2\ years as President 
of the United States, we spoke in a very candid manner as if we knew 
from before. I think although this was the first time that we met in 
this kind of setting, we had a very substantive and important meeting.
    Let me take this opportunity to thank President Clinton for, as he 
mentioned earlier, extending to me the invitation to visit the United 
States early next year. I think that visit of mine will provide a good 
opportunity to continue our discussion further. And I do hope to make it 
realized. Details, I will instruct our officials to work out with U.S. 
counterparts.
    As we moved from the prior room to this room, we talked about the 
third way, but the path that we had in between two rooms were not enough 
to complete the subject. [Laughter] So I do hope to elaborate on that 
subject later on.

Aftermath of the Independent Counsel's Referral

    Q. Mr. President, would you consider an appearance before the House 
Judiciary Committee in person, as some in Congress have suggested?
    President Clinton. Mr. Plante [Bill Plante, CBS News], I don't have 
anything to add to whatever the White House is saying about all this 
today. I'm here working on a very important thing for the American 
people and for the Japanese people. We have to work together to restore 
growth to the world and to help our friends.
    Yesterday, I was here working on terrorism and how to make the 
global economy work for ordinary citizens. That's what I'm doing, and I 
don't have any contribution to make to that discussion beyond whatever 
the White House has said.
    Q. Do you pay any attention to what's going on other than this? Do 
you pay any attention to what happened yesterday, to what the lawyers 
are doing, to any aspect of this?
    President Clinton. Not much. Believe it or not, I haven't read the 
report or my lawyers' replies. I think it's important that I focus on 
what I'm doing for the American people, and that's what I intend to do.

Japan's Financial Situation

    Q. Mr. President, are you encouraged from what you heard today that 
Japan will be able to deal with its fiscal problems in a swift way and 
adequately?
    President Clinton. Well, I think, first of all, let's look at the 
facts here. Japan is a very great country with a strong, sophisticated 
economy and immensely talented people and, as in America now, an 
increasingly complicated political situation. That is, we have a 
Democratic President and a Republican majority in the Congress. They 
have their government, and in one house of their Diet an opposition with 
more members. So they have to work out what is politically possible.
    I think there is virtually unanimous support in the world for the 
kind of financial reforms that would restore economic growth in Japan. 
The rest of us want to be encouraging. We want to do what we can to be 
supportive to help do whatever we can to create the climate which would 
permit a quick restoration of economic growth in Japan and therefore in 
Asia. That's what our objective is, is to understand that they have 
unique challenges but enormous strengths and to help find a way to get 
this done.
    Q. Mr. Prime Minister, how optimistic or pessimistic are you about 
the prospects of getting reforms passed through your parliament?
    Prime Minister Obuchi. I'm neither optimistic or pessimistic on 
this, but I think, as much as I do realize, many in Japan would realize, 
that this is not only an issue for Japan but something that has major 
implications on economies of Asia as well as the whole world.
    I think steps we take in Japan to address the issue of financial 
system has very large implications worldwide. So I think with this 
understanding, I intend to make my very best effort at addressing this 
issue. I am convinced that we will be able to do something.

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Note: The exchange began at 12:10 p.m. at the Waldorf Astoria Hotel. A 
tape was not available for verification of the content of this exchange.