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Japan'S New Cooperation In Economic Cooperation With China

2010/8/26 17:12:00 66

Japan's Xinhua China Daily published an article entitled "new trends in Japan's economic cooperation with China" in August 22nd.

The article said that recently, some important figures from central to local governments in Japan have visited China successively, and their main mission is to promote Sino Japanese economic cooperation.

Of course, for Japan, a country based on trade, it has always been so.

However, judging from the current situation, Japan is facing China on the basis of its original situation.

economic cooperation

There are noticeable new trends.

Urgency strengthening

In the next 10 years, Japan's economic growth strategy is guided by expanding domestic and foreign demand, achieving economic growth and creating employment opportunities, and hopes to get rid of deflation as soon as possible.

To this end, seven key areas have been identified, and Asian demand will be expanded as a major area. Other areas such as environment, energy and tourism are closely related to the expansion of Asian demand.

These policies have had a positive impact.

However, from the second quarter of Japan's statistics, the economic recovery has slowed down due to factors such as the appreciation of the yen, the increase has been the lowest in three quarters, and it has been reduced to GDP annual growth rate of only 0.4%.

Among them, domestic demand improved slightly compared with the previous quarter, but external demand contributed less to GDP growth than the previous quarter by 0.3 percentage points.

This exacerbated Japan's concern over the interruption of the recovery process.

At the same time, the signing of ECFA on the two sides of the Taiwan Strait, the recovery and development of the US real economy and the efforts to expand the Asian market have all created a competitive pressure on Japan.

Against this background, the urgency of Japan's economic cooperation with China is strengthening.

Improvement of cooperation level

With the development of economy, China's consumption power is increasing.

change

The economic growth mode, the upgrading of industrial structure and the intensification of international competition have prompted Japan to improve its economic cooperation level with China.

This effort is manifested in the increase of technological content in economic cooperation.

When Japan's former Prime Minister Hatoyama Yukio visited China, he told Premier Wen that he hoped to expand cooperation between China and other countries by providing greenhouse gas reduction technologies to China.

This effort is also reflected in the further expansion of bilateral cooperation, especially in the third industry.

For example, in tourism, the main task of Maehara Makotoshi's visit to China is to promote cooperation between China, Japan and Korea in tourism.

Local leaders from Okinawa Prefecture and Japan also visited China in succession to discuss new routes and increase visitor numbers with China.

For example, the financial industry, MITSUBISHI Tokyo Japan Federation bank, Mizuho Industrial Bank and other places have set up new departments in Shanghai and other places, carry out investment banking and coordinate loans, and strengthen the training of talents.

Increase in direct investment

The main reason for this is the continued appreciation of the Japanese yen.

Self financing

crisis

Since the beginning, most currencies in developed countries such as the United States have depreciated, while the Japanese yen has appreciated by more than 40%. In recent years, the dollar has risen to a new level in the past 15 years.

The reason is mainly due to the weakness of the US dollar and the international community's holdings of Japanese government bonds in order to diversify risks. For example, in 2009, the British bought 26 trillion and 300 billion yen Japanese bonds and bought 18 trillion and 300 billion in 2010.

This situation is difficult to change in the short term, bringing certain difficulties to Japan's exports.

Many Japanese economic experts believe that "in the case of severe economic environment in Japan, it is the right strategy to invest resources in a promising market."

In the 1~7 month of 2010, Japan's direct investment in China actually reached US $2 billion 465 million.

The above trend is good for Sino Japanese relations.

The two sides should seize the opportunity and respond correctly, while achieving economic mutual win, further consolidate the foundation of Sino Japanese relations and prevent the Sino Japanese relations from drifting during major changes in the regional and world order.