Russia
A partial solution to the economic crisis in Russia may be an opportunity to resolve a 40-year-old geopolitical dispute.
At the end of WWII, the Soviets seized the Kurile Islands, northeast of the Japanese island of Hokkaido. This impasse over the Northern Territories has in part restricted the economic ties between the two nations, one the world’s largest land possessor and the other the second-largest economy in the world.
The islands are less important strategically now than when the Cold War ended. A simple transfer of flags could be key to obtaining vital loans, currency guarantees and perhaps frank transfer payments that would flow from the established generosity of one of the world’s wealthiest economies.
The fledging government of Japanese Prime Minister Keizo Obuchi could be rejuvenated with a national issue that would provide and encourage popular home support. Despite all of its wealth, quality of life in Japan suffers from land shortages. Trading land for cash may be the foundation for Russia’s economic salvation.
JACOB TOM
Los Angeles
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