Japan: New Co-Prosperity Sphere

From Soviet Russia to Sumatra and across the broad Pacific to South America, Japanese businessmen smilingly signed agreements last week that will guarantee them industrial raw materials for years to come. To the Russians, the Japanese pledged $200 million in pipe and liquefication equipment with which to develop the Okha natural-gas fields of Soviet-held Sakhalin island: in return, 7,000,000 cu. ft. per year of Sakhalin gas will be shipped to Japan. In Sumatra, Japanese oilmen promised to invest $15 million to carry on offshore oilfield drilling; Indonesia will keep 39% of the...

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