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2014/02/08

Virginia Takes Sovereign Investor Approach to World Politics

The Sovereign Investor

Virginia Takes Sovereign Investor Approach to World Politics

Dear Sovereign Investor,

Japan and South Korea are using Virginia as a battleground to settle a long-running dispute over the body of water that separates them.

Earlier this week, Virginia state legislators voted on a bill that requires "all text books approved by the Board of Education … when referring to the Sea of Japan, shall note that it is also called the East Sea."

The vote approving the bill followed significant lobbying by not only Korean- and Japanese-Americans who live in Virginia but also from the governments of Japan and South Korea.

In fact, part of Japan's campaign came with the veiled threat that Japanese investment might suddenly dry up should Virginia pass the bill, while it was reported that Japan's embassy paid the McGuireWoods consulting firm $75,000 to lobby the vote on its behalf. It's not surprising the Japanese have such an issue with the name, because the sea lies to their west.

Who says the United States has become insulated, caring only about its own problems?

Well, for the most part it has. But Virginia has become an exception, as it stepped forward to prove its influence in a much larger field.

And like Virginia, the Sovereign Society continues to cast its eye abroad. Opportunities are abundant when you're willing to look just outside your own backyard.

Regards,
Jocelynn Smith
Online Associate Managing Editor, The Sovereign Investor Daily

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