| Summary/Abstract |
How can Russia and Japan cooperate to contribute to stability and prosperity in the Asia-Pacific region? With 48 trillion cubic meters Russia has the world's largest natural gas reserve while Japan has the world's largest net foreign asset of $3.2 trillion. Linking the two affluent resources creates new transactions and opportunities for the world economy. The implication will be far-reaching beyond the sphere of mere economics and will change the energy and financial world dominated by oil from the Middle East and the USD. For example, Japan imports 82% of its oil from the Middle East--Saudi Arabia (34%), UAE (25%), Qatar (8%), Kuwait (8%), and Iran (5%). On the other hand, the USD is used for 42.09% of international payments and is dominant particularly in Asia where regional currencies such as the Japanese yen (JPY) and the Chinese yuan (CNY) are used only for 3.4% and 1.68% of international payments, respectively.
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