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Japan International Banks
Based on its economic power and performance, Japan
steadily
expanded its role in the World Bank, the IMF, and other
international financial institutions. Investment and trade
flows
made Japan by far the dominant economic nation in Asia.
Japanese
aid and investment became widely sought after in other
parts of the
world, and it appeared to be only a matter of time before
such
economic power would translate into greater political
influence.
In the multilateral development banks, Japan's
financial and
policy positions become more prominent. Tokyo had assumed
a leading
role at the Asian Development Bank for a number of years.
At the
World Bank, Japan's voting share represented about 9.4
percent,
compared with 16.3 percent for the United States. Japan
also made
several "special" contributions to particular World Bank
programs
that raised its financial status but did not alter its
voting
position. Japan planned to participate in the East
European
Development Bank, making a contribution of 8.5 percent,
the same as
the United States and major West European donors. Japan
also
displayed a growing prominence in IMF deliberations,
helping ease
the massive debt burdens of developing countries, and
generally
supported efforts in the early 1990s at the GATT Uruguay
Round of
trade negotiations to liberalize world trade and
investment.
Data as of January 1994
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