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A joint meeting of the Empire Club of Canada and the Canadian Club of Toronto. Differences and points in common between Japan and Canada. "With our simultaneous modernization and the Pacific as our common border, our two nations have pursued development and at the same time cemented an ever closer relationship." With that beginning, the speaker's address discusses our economic ties under the following headings: Issues Facing the World Economy; The Basis of Japan's External Policies; The Debt Problem of Developing Countries; and Economic and Trading Relations Between Canada and Japan.