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CNN Sunday Morning

Bush, Koizumi Deal with Struggling Economies

Aired February 17, 2002 - 07:11   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
MILES O'BRIEN, CNN ANCHOR: As we told you just a few moment ago, the president is in Tokyo, spending some time with the Japanese prime minister who is dealing with low public ratings as well as a very difficult economy, which persists in recession. Our CNN's John King is traveling with the president and joins us now with an update on the beginning of this Asian trip.

Hello, John.

JOHN KING, CNN SR. WHITE HOUSE CORRESPONDENT: Hello to you, Miles, Sunday evening here already in Tokyo. Mr. Bush having dinner tonight with the U.S. ambassador to Japan, a familiar face back in the United States, Howard Baker, the former Senate Majority Leader from the state of Tennessee. He is the U.S. ambassador here.

Down to business tomorrow morning. As you noted, the leader of the world's number one economy, President Bush, will be sitting down with the leader of the world's number two economy, Prime Minister Koizumi here in Japan. Both men dealing with struggling economies back home. Part of the president's mission here to try to nudge the Japanese prime minister to move a little quicker, in the U.S. view, in implementing economic reform.

The Japanese economy in and out of recession for most of the past decade. Mr. Bush will try to give the prime minister a boost. He believes the prime minister has a good plan to get the Japanese economy back on track, but is having some difficulty selling it here at home.

The two leaders, also, will discuss the war on terrorism, of course. And at this stop in Japan and then the president's next stop in South Korea, there are large concerns about just what Mr. Bush meant when he used the term "axis of evil" to describe North Korea, lumping North Korea together with Iran and Iraq, especially in South Korea where President Kim Dae-jung has had a reconciliation policy toward the north. He calls it the Sunshine Policy. They believe the president's harsh words will only convince the North Korean leader even more to refuse to reciprocate either by visiting South Korea or resuming negotiations with the south or with the United States for that matter.

Some demonstrations here in Japan on the day of the president's arrival, many protesting his refusal to back the Kyoto Global Climate Treaty. Mr. Bush will not join that treaty and just the other day, proposed what he considers to be an alternative. Others protesting the war in Afghanistan and the U.S. president's views. So Mr. Bush, as he gets down to business here in Japan, also looking ahead to stops in South Korea and China, but here at stop one, the economy a major issue for the president back home, also a major issue as he sits down tomorrow with the Japanese prime minister -- Miles.

O'BRIEN: Thank you very much. CNN's John King reporting live from Tokyo where it already Sunday evening.

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