Former Taiwanese President Lee Teng-hui's proposal that Japan should coordinate its foreign policy closely with the United States and engage moderately with China in a speech Saturday was highlighted in several mainstream Japanese newspapers Sunday. Delivering a speech at a forum marking the 60th founding anniversary of the Junior Chamber International Japan, Lee presented an eight-point proposal on Japan's foreign policy in front of a capacity crowd of 2,000. According to the Asahi Shimbun, Lee suggested that the Democratic Party of Japan (DPJ) , which claimed the helm of the world's second-largest economy after defeating the long-time ruling Liberal Democratic Party in parliamentary elections late last month, make Japan-U.S. coordination the theme of its foreign policy, while engaging in exchanges with China to a moderate degree. The Daily Yomiuri said that aside from extending congratulations to the upcoming Japanese government, the ex-Taiwan president also said he hopes to see the emergence of a bi-party political system in Japan. While calling on the new Japanese government to step up formal diplomatic relations with the United States and China, Lee also suggested it should strengthen cooperation with Taiwan for the sake of regional security, the newspaper reported. The Japanese Jiji Press and the Japanese Economic News also each carried a report on Lee's speech. Both of the reports said Lee warned Japan should avoid tilting excessively towards China. According to Japan's Kyodo News Agency, Lee urged DPJ Chairman Yukio Hatoyama, who advocates a common Asian currency and regional integration through the creation of an East Asian community, to attach great importance to Japan's relations with Taiwan. Lee argued that Taiwan represented a defensive imperative for Japan and its geopolitical importance in the region. Lee also applaunded the DPJ's policy of building 'a close and equal Japan-U.S. alliance,' the news agency reported. Lee, who served as Taiwan's president between 1988 and 2000, arrived in Japan Friday for a week-long private visit. He is scheduled to go sightseeing in other parts of Japan before returning to Taiwan via Fukuoka on Sept. 10. The visit is the fifth by Japan-educated Lee, 86, since he stepped down as president nine years ago. 