ABSTRACT
This study was an attempt to analyse, in theoretical and practical terms, the role of the supporter in the liberal economic system. In Part I we provided the theoretical framework for this dissertation and argued that, contrary to the opinion that a liberal order could be sustained on the basis of system-wide cooperation, a leader was necessary for system stability in the long run. However, given that the relative decline of the United States had weakened its leadership capability, we argued that a system supporter was essential to the continued stability of the world trading system. We tried to apply this concept to Japanese foreign economic policies and assess the extent to which Japan was likely to adjust its policies and take on a larger burden within the system commensurate with its economic capabilities. The analysis of recent Japanese economic policies would suggest that Japan was in the process of readjusting its position within the liberal trading system with particular concern to contribute to system stability. One corollary of this transformation would be to give Japan a greater say in the system. We noted the various obstacles, in Japan, to this change, but it should be pointed out that the problems of adjustment, in the United States, may not be any easier, since it would have to take greater account of specific Japanese interests even if there was a basic congruence of interests. The potential for instability, however, was likely to be low as long as the military alliances remained strong.
