China & Japan come closer to leave their ugly history behind
Trade, they say is a great leveller; it makes people
forgive & forget. And nothing proves this better than the coming together of the two arch enemies, China & Japan. The two recently concluded a series of meeting to enhance trade cooperation & agreed to disagree on the contentious issue of exploitation of a gasfield in East China Sea region. The two countries have finally agreed to get into a second dialogue by the end of 2008 & agreed to create mechanisms, which would lead towards the creation of free-trade zone. The negotiations had become imperative after a sudden souring of economic relations between the two. While China had remained the leading investors in Japan, Japanese investments in China had fallen by almost 30% ($4.6 billion) last year. The twin reasons, which the Japanese business says for low interest in China were: Protectionist attitude of the Chinese & the highly undervalued Yuan. The ties between the two neighbours will improve in the days to come; the trade will also grow at good pace in the years to come,” Shimpei Ara, a bureaucrat with the Japanese Commerce Ministry told B&E. One only hopes that old rivals will eventually put the past behind them and help Asia prosper.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
Trade, they say is a great leveller; it makes people
forgive & forget. And nothing proves this better than the coming together of the two arch enemies, China & Japan. The two recently concluded a series of meeting to enhance trade cooperation & agreed to disagree on the contentious issue of exploitation of a gasfield in East China Sea region. The two countries have finally agreed to get into a second dialogue by the end of 2008 & agreed to create mechanisms, which would lead towards the creation of free-trade zone. The negotiations had become imperative after a sudden souring of economic relations between the two. While China had remained the leading investors in Japan, Japanese investments in China had fallen by almost 30% ($4.6 billion) last year. The twin reasons, which the Japanese business says for low interest in China were: Protectionist attitude of the Chinese & the highly undervalued Yuan. The ties between the two neighbours will improve in the days to come; the trade will also grow at good pace in the years to come,” Shimpei Ara, a bureaucrat with the Japanese Commerce Ministry told B&E. One only hopes that old rivals will eventually put the past behind them and help Asia prosper.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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