THE YEN ACCORD MAY TURN OUT TO BE A PAPER TIGER.

The article reports that a U.S.-Japan commercial treaty to internationalize the Japanese yen is not expected to strengthen the yen in foreign exchange markets and to alter international trade, balance of payments, and balance of trade patterns between the two countries. Measures to make the yen an international currency include the creation of a free Euroyen market and deregulation of Japanese capital markets.