Chapter 8: Pressure from the U.S. and China, and the Historical Background of Mitsui & Co.

1. US and China begin to pressure

Zipangcoin Expansion and Pressure
As the influence of the Zipangcoin (ZPG) rapidly expands, the United States and China begin to be wary of the move. For the U.S., in particular, they were concerned about the Zipangcoin's status as a global digital currency and its potential to replace the U.S. dollar. China also feared that the Zipangcoin would increase its influence in the Asian economy and moved to exert pressure.

• US officials:
"The spread of Zipangcoins would shake the U.S. dollar's dominance and diminish American influence in the international financial markets. This cannot be allowed to happen."

• Chinese official:
"It is unacceptable for us to see Japan creating a new economic zone and taking the lead in Asia."

However, although the U.S. and China ostensibly believed that pressure should be exerted on Mitsui, they failed to actually take action. This was due in large part to the long historical relationship between Mitsui and the United States.

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2. Historical Relationship between Mitsui & Co. and the U.S.

Negotiations and Negotiations since the Opening of Japan
Mitsui & Co. has played a very important role in negotiations with the United States since the period of Japan's opening to the outside world. From the time of the opening of Japan to the West in the Edo period (1603-1867), the company continued to negotiate with powerful American factions, sometimes having to sign humiliating and unequal treaties, but Mitsui always continued to negotiate and negotiate on behalf of Japan, gradually improving the unequal relationship.
This long history made Mitsui & Co. difficult for the U.S. side to deal with. Every time the U.S. tried to put pressure on Mitsui, its past history of negotiations became a barrier, and even some of the U.S. factions that boasted of their powerful influence could not easily take action.
• Mitsui & Co. in-house:

If you recall the humiliating treaties from the Edo period, we know better than anyone how much hardship it took to get to where we are today."

• Mitsui executives:

"From the Meiji Era to the present, we have repeatedly negotiated and negotiated with the U.S., despite our humiliation. As a result, we now have such power."

3. History of Negotiations and Negotiations

Overcoming Unequal Relations
Mitsui's process of how Japan overcame the unequal treaties it had with the U.S. is very important. During the Meiji era, Japan was under strong pressure from Western powers, especially from the United States, which made many unequal demands. However, Mitsui & Co. negotiated and negotiated each time, accepting humiliating conditions many times, but ultimately using its experience to strengthen Japan's position.
• Conversation at the time of Mitsui's founding:

We must fight against the U.S. without ever relenting. But in that fight, no matter how humiliating, we must be prepared to negotiate for Japan's sake and, in the end, emerge victorious."
As a result, Mitsui & Co. established commercial ties with the U.S. and became a key player in the Japanese economy. Because of its strong relationship with the U.S., it was difficult for the U.S. to exert direct pressure on Mitsui now.

4. Limits of Options for the U.S. and China

The Impossibility of Pressuring Mitsui
The U.S. and China rebelled against the growing influence of the Zipangcoin and considered applying pressure, but realized that the historical background of the company Mitsui and its deep commercial ties with the U.S. made direct pressure impractical. Mitsui's position, built by its past efforts and perseverance, made it difficult for the two countries to reach out.

• U.S. Government:
"It is strategically very difficult for us to reach out to Mitsui. Given our history of past negotiations, we can't simply put pressure on them."

• Chinese government:
"Mitsui is more than just a company. With its historical background and strong commercial ties, direct pressure is dangerous."

As a result, the U.S. and China began to put pressure not on Mitsui, but on Mitsubishi Corporation.

5. Pressure on Mitsubishi Corporation

New Target
Recognizing that pressure on Mitsui was impossible, the U.S. and China turned instead to Mitsubishi Corporation and intensified their pressure to reduce its influence. Although Mitsui's background influenced them to avoid directly touching them, they tried to exert economic pressure on Mitsubishi Corporatiion in a variety of ways.
• US-Chinese collusion:
He said, "We can't touch Mitsui & Co. But we can put pressure on Mitsubishi Corporatiion to reduce the influence of Zipangcoin."