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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: Japanese Prime Minister for Miyokishi I will meet with President

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Speaker 2: Biden later on Wednesday, in the first official White House

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Speaker 2: visit by a Japanese leader in nearly a decade. That

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Speaker 2: will be followed by a three way summit with the

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Speaker 2: Philippines as the US six to counter China in the

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Speaker 2: Indo Pacific. Let's bring in Ramamanuel, who's US Ambassador to Japan,

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Speaker 2: who joins us live from the White House lawn, and

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Speaker 2: it's beautiful evening for you to be joining us. We

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Speaker 2: appreciate your time. As always, Ambassador, give us your context.

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Speaker 2: I guess in terms of the implications of this visit

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Speaker 2: at the timing, why has this happened, As we've just mentioned,

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Speaker 2: it hasn't happened in a long time, and this is

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Speaker 2: all in the context of countering the ambitions and the

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Speaker 2: moves that we see from Beijing.

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Speaker 3: Well, two points I would add is that this comes

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Speaker 3: at a historic moment for both countries as they change dramatically.

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Speaker 3: They're kind of deterren pasture and position. Japan's changed in

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Speaker 3: the last two years five separate policies that have been

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Speaker 3: basically on the books for seventy years, from the size

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Speaker 3: of the defense budget, of the counters capability in the

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Speaker 3: defense area, normalizing and level bringing the level of relationship

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Speaker 3: with the ROK the Republic of Korea to a new

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Speaker 3: more solid strategic level. The United States also has made

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Speaker 3: some fundamental changes, going from a hub and spoke system

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Speaker 3: to a lattice multinational.

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Speaker 1: Type of strategic architecture.

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Speaker 3: And I kind of see this state visit the fourth

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Speaker 3: from a head of state in the region out of

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Speaker 3: five that the President's done. It's kind of putting a

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Speaker 3: period at the end of one era that's defined as

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Speaker 3: alliance protection and beginning to write the first chapter of

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Speaker 3: the new era of alliance projection with Japan.

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Speaker 1: And that's not.

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Speaker 3: Just for the Indo Pacific, but also as a key

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Speaker 3: strategic partner in a global set of issues. The second thing,

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Speaker 3: it's kind of bookend. The week started with Australia, the

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Speaker 3: United States, Japan, and the Philippines doing naval and air

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Speaker 3: exercises together in a new multinational effort and have the

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Speaker 3: ends of the week with a historic first ever trilateral

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Speaker 3: between the United States, Japan, and the Philippines head of

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Speaker 3: states that reflects and symbolizes the change in the United

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Speaker 3: States approach. It also symbolizes the kind of role that

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Speaker 3: Japan is going to play as a constant in our

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Speaker 3: relationships in the area. But it also symbolizes China's whole

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Speaker 3: strategy is to isolate the Philippines, isolate Australia with their

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Speaker 3: economic orsion, isolate Japan by not accepting their.

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Speaker 1: Fish to be exported.

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Speaker 3: Our strategy is to flip that script and make the

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Speaker 3: isolated party China. They're the ones that are isolated in

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Speaker 3: the South China Sea. As it relates to the Philippines,

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Speaker 3: They're the ones that are isolated when it comes to

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Speaker 3: trying to use economic orision to coerce Australia to change

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Speaker 3: their posture, and they become the isolated party, which is why.

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Speaker 1: They throw in the towel on that effort. So that's

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Speaker 1: how this state visit.

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Speaker 3: It's been a long it's nine years since the last

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Speaker 3: Japanese Prime ministers had a visit, but it comes at

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Speaker 3: a critical juncture where the relationship will pivot into a

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Speaker 3: new kind of posture and a new.

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Speaker 2: Position I wanted to hone in Ambassador. You've mentioned, of course,

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Speaker 2: the first trial that summit with the Philippines. How far

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Speaker 2: do you expect Japan to involve itself when it comes

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Speaker 2: to these confrontations in this South China see where of course,

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Speaker 2: these encounters tend to be more aggressive than what we

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Speaker 2: see in the East China. See.

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Speaker 3: Well, the whole goal is not to have a conflict,

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Speaker 3: That's what credible deterrence is. And understanding that this is

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Speaker 3: not China versus the Philippines. This is China trying to

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Speaker 3: coerce the Philippines into changing their policy on which the

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Speaker 3: International Court in twenty sixteen ruled was in favor of

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Speaker 3: the Philippines, not China.

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Speaker 1: And understanding that China needs to understand.

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Speaker 3: That the Philippines has some very very important friends in

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Speaker 3: the neighborhood, the United States, Japan in this situation, and

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Speaker 3: it's all about bringing a level of credibility to the deterrence,

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Speaker 3: whether it's on the diplomatic front, the defense side, or

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Speaker 3: the development economic development side.

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Speaker 1: And you will see that take place in real time.

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Speaker 3: And since we announced it dry letter, you can see

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Speaker 3: China's change in the behavior and their sense of that.

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Speaker 3: In the same way that when the President hosted the

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Speaker 3: President of Korea and the Prime Minister of Japan at

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Speaker 3: Camp David in August. That was a major shift in

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Speaker 3: the strategic sands and underpinnings in their region, because China's

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Speaker 3: entire strategy is to keep Korea, Japan, and the United

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Speaker 3: States isolated from each other, not on the same page,

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Speaker 3: which is what was achieved at Camp David.

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Speaker 4: I'm interested this sort of lattice type structure, how strong

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Speaker 4: that is, especially when you hear things like, for instance,

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Speaker 4: South Korea's reportedly planning a three way summit with China

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Speaker 4: and Japan next month. So what's the sort of response

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Speaker 4: and what would the US to be making of that.

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Speaker 3: Well, I know what happened since I was there at

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Speaker 3: Camp David.

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Speaker 1: We'll see.

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Speaker 3: Obviously we have this historic one first time ever between

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Speaker 3: the leaders of the Philippines, Japan, and the United States.

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Speaker 3: But this lattice structure is a fundamental shift of the

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Speaker 3: United States to a more multinational approach, whether it comes

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Speaker 3: to military exercises, economic development, or whether it comes to

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Speaker 3: diplomatic initiatives. And it replaces what was a siloed hub

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Speaker 3: and spoke in a more integrated way, and it brings

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Speaker 3: a level of not only to terrence, it reminds China.

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Speaker 3: And there's two operative theories here. China's theory is this

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Speaker 3: is our neighborhood. Either get in line or you're gonna

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Speaker 3: get the treatment that the Philippines are getting or any

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Speaker 3: other country like Australia just recently.

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Speaker 1: Experienced over the last three years.

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Speaker 3: Our posture is we're a permanent pacific power and presence,

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Speaker 3: and you can get that long on the United States.

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Speaker 3: And when you look at where we were five years ago,

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Speaker 3: when you look at where we are today, China is

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Speaker 3: on their back foot and there's ever great momentum behind

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Speaker 3: the United States pledge or permanent power, you can bet long,

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Speaker 3: which is why countries are actually working together on every

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Speaker 3: one of those kind of strategic levels, from development to

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Speaker 3: deterrence to diplomacy, to work together in not locksteps so much,

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Speaker 3: but in coordination and cohesion with the United States' approach.

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Speaker 4: But then what about China's approach and how it plays

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Speaker 4: into it? And as I said, South Korea perhaps planning

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Speaker 4: a three way summit between China and Japan, So what

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Speaker 4: are the how can the US sort of counter that

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Speaker 4: approach from Beijing as well that could also be looking

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Speaker 4: to have its own lattice type structures in place.

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Speaker 3: Well well, First of all, China has no treaty allies

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Speaker 3: except for North Korea. Second of all, China is never

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Speaker 3: going to win the award for the best neighbor policy.

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Speaker 3: They've had two land conflicts already with India. They're having

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Speaker 3: a constant kind of minor connectic with the Philippines. They

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Speaker 3: fired five missiles into Japanzee easy. There's nobody in the

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Speaker 3: neighborhood that China's not in some way claiming their real

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Speaker 3: estate or having some economic or political confrontation with So

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Speaker 3: they can try a trial at great Anything that deters

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Speaker 3: China and understands there's consequences to try to use raw

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Speaker 3: power rather than a rules based.

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Speaker 1: System is a good thing.

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Speaker 3: But I think China's reacting to the United States not

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Speaker 3: initiating where we're reacting. The reason they want a Japan

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Speaker 3: Korea China trial at all meeting is in a reaction

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Speaker 3: to what the President achieved.

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Speaker 1: They're trying to minimize that, which goes.

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Speaker 3: To underscore what I've said earlier, which is five years

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Speaker 3: ago you would not have put that.

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Speaker 1: The initiative was on the United States.

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Speaker 3: It's not a major gust to win, but the wind

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Speaker 3: is at our sales where China, both at home and

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Speaker 3: in the neighborhood, is on their back heel and they're

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Speaker 3: trying to make up for lost time.

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Speaker 4: What's the risk of US initiatives being undermined by election

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Speaker 4: changes in the US itself? Given we are approaching that

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Speaker 4: vote in November and Donald Trump potentially inclined to overturn

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Speaker 4: Biden policies if he wins.

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Speaker 1: Well.

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Speaker 3: First and foremost, I would say that every when it

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Speaker 3: comes to kind of the area of the Indo Pacific

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Speaker 3: and China, we're strong because of our allies and alliances.

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Speaker 3: What we're building here is starting to be put down

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Speaker 3: in the roots of the institutions of whether it's Korea,

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Speaker 3: Japan and the United States, the United States, Japan and

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Speaker 3: the Philippines, or whether it's a quad India, Australia, Japan

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Speaker 3: and the United States. That's being woven into the DNA

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Speaker 3: of not the strategy but the institutions that help uphold

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Speaker 3: those strategies or strategic areas. But I think we should

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Speaker 3: be also honest. President Biden brings a level of commitment

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Speaker 3: that all the other leaders respond to. That he values

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Speaker 3: allies and the alliances that they're part of and sees

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Speaker 3: them as core to America's strategy. So are the advances

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Speaker 3: over the last three years being built and being put

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Speaker 3: into kind of wired into the DNA.

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Speaker 1: Yes.

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Speaker 3: Can a leader that doesn't believe in that start to

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Speaker 3: roll the rock back down the hill?

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Speaker 1: Could?

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Speaker 3: But I think there's enough progress and everybody in the

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Speaker 3: institutions understands how this goes to the core strategic interests

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Speaker 3: where the United States doesn't want to be alone, they

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Speaker 3: want to isolate China. That means our allies are key

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Speaker 3: partners in that strategy.

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Speaker 2: From within Japan in your role, are you getting more

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Speaker 2: questions that perhaps suggest there is a rising to grave

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Speaker 2: noise and uncertainty and concern about what the outcome might

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Speaker 2: be post November?

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Speaker 1: Well, I think he.

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Speaker 3: First of all, obviously I know a little about American politics.

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Speaker 3: There's obviously people are watching American politics and they're walking

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Speaker 3: because it has a keen interest. There's a keen interest

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Speaker 3: in who the president is and what their ideas are. Yeah,

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Speaker 3: people are interested in American politics because it has consequences.

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Speaker 3: Elections have consequences. Of course, they're interested and they ask

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Speaker 3: me about it. That doesn't mean they're not interested, like

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Speaker 3: in this state visit, of doubling down on their partnership

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Speaker 3: with the United States because they know it's in their

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Speaker 3: strategic interest and it's in our strategic interest that they're

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Speaker 3: aligned with US.

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Speaker 1: Ambassador.

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Speaker 2: When we spoke to you Buck in May last year,

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Speaker 2: you talked about the Micron deal with Japan and really

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Speaker 2: being a way to counter a Chinese commotion in the

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Speaker 2: tech and strategic space.

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Speaker 1: Do you expect more to come out.

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Speaker 2: Of Pam Kishita's visit this time in terms of further

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Speaker 2: investment to try and extend that lead that Japan and

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Speaker 2: the US are trying to build.

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Speaker 3: Well, two things I would say one is we are

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Speaker 3: went This morning, Microsoft announced a three billion dollar investment

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Speaker 3: in data and AI capacity and research in Japan. We

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Speaker 3: also just announced Carnegie Mellon and Kehoe University in Japan.

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Speaker 3: We'll be doing research on AI, as will the University

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Speaker 3: of Washington and Scuba University in Japan. There'll be fifty

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Speaker 3: million dollars one hundred and ten million dollars collectively by

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Speaker 3: major corporations to back up that AI research in the

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Speaker 3: four universities US to Japan. Building on what we did

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Speaker 3: in Hiroshima with the University of Chicago and Tokyo University.

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Speaker 3: In the quantum computing space, we've put together around two

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Speaker 3: hundred and sixty plus million dollars just in the two

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Speaker 3: areas of research of AI and quantum computing. That has

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Speaker 3: a material economic benefit and material benefit to keeping the

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Speaker 3: two countries ahead in some of the most important researchers

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Speaker 3: that China's putting a ton of resources into. So there

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Speaker 3: will be other type of commercial diplomacy. The Prime Minister

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Speaker 3: will be going down to North Korea after his visit

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Speaker 3: here at the White House, looking at Tyota's thirteen point

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Speaker 3: nine billion dollar ev investment in the United States and

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Speaker 3: a Honda auto factory.

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Speaker 1: For the last four years.

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Speaker 3: Japan has been the number one foreign direct investor in

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Speaker 3: the United States, and we have been the number one

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Speaker 3: in Japan, and that's what's going to continue.

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Speaker 4: And asaid, I'm curious about the US opposition perhaps to

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Speaker 4: nip On Steel overtaking United States steel and what that

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Speaker 4: signifies to Japanese companies that are looking to make investments

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Speaker 4: inside the US. Is there perhaps a need to think

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Speaker 4: about the role that election year politics plays in investment strategies?

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Speaker 3: Then well, Here's what I would say is, as I

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Speaker 3: just said, for four years in a row, the United

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Speaker 3: States and Japan are the number one foreign investors in

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Speaker 3: each other's respective countries. Japanese companies employee are million Americans,

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Speaker 3: one of the largest in the world.

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Speaker 1: Number two.

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Speaker 3: Six weeks of go, Mitsui Corporation from Japan received a

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Speaker 3: twenty billion dollar contract to replace all the cranes in

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Speaker 3: all our ports because we don't trust the Chinese cranes

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Speaker 3: that are there. From a national security basis, nothing says

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Speaker 3: trust an ally more than a twenty billion dollar contract

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Speaker 3: to a Japanese company. And then I would remind everybody

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Speaker 3: that in twenty twenty one, then there was an election

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Speaker 3: in Japan. Some foreign entities we're looking at buying Toshiba,

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Speaker 3: and Japan said for national security interests.

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Speaker 1: That's not going to be permitted. So there's a context here.

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Speaker 3: One is that the relationship is bigger, more significant than

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Speaker 3: a single commercial transaction.

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Speaker 1: And two, there have been things in.

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Speaker 3: Both with Mitsui six weeks ago as well as back

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Speaker 3: in twenty twenty one with Toshiba that actually put this

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Speaker 3: all in context. So it is in the United States

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Speaker 3: continues to be a target of investment from semiconductors from Japan,

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Speaker 3: autose evs, food, pharmaceutical, financial services, and Japan continues to

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Speaker 3: be a number one market for the United States as

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Speaker 3: an investor in the Japanese economic growth and economic capacity.

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Speaker 3: And that's going to continue whether there's a disagreement on

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Speaker 3: a single transaction.

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Speaker 4: All right, Ambassada, thanks for munching your time this evening.

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Speaker 4: That was Ram Emanuel, the US Ambassador to Japan.