Since the normalization of diplomatic ties between China and Japan in1972, the economic and trade relations of both sides have been greatly enhanced and made much headway. By the year 2005, the bilateral trade volumes had surged over 160 times. In the decade of 1993 till 2003, Japan remained the largest trading partner to China. In 2007, the total bilateral trade volumes climbed up to $ 236 billion dollars, and meanwhile, China has overtaken the U.S as the largest trading partner to Japan, and Japan the third largest to China.
The bilateral economic and trade ties are expected to maintain a robust growth and have a bright prospect of sustained development. The reasons may lie in the following facts:
First, China and Japan are close neighbors separated by only a narrow strip of water. The geographical closeness to each other creates preferential and favorable conditions for international trade and economic cooperation.
Second, Japan, as the second largest economy in the world, leads the world in its hi-tech and new technology industries, technology-intensive industries, and capital-intensive industries. On top of that, Japan boasts the advanced technologies in energy conservation and environmental protection and the experience in building the country with technology as the foundation. On the other hand, China is the largest developing country with a booming market demand following its 30 years of economic rush. The differences in resources and economic structure give a clue that China and Japan are highly complementary in their economic development.
Third, in recent years, China has stepped up its efforts to put into practice the outlook of scientific development, and its paramount economic goals have been shifted on promoting the transformation of economic growth mode, energy conservation and environmental protection. Japan possesses the advanced technologies in environmental protection, and is seeking to become a super power in this regard. This will further expand the space for trade and technological cooperation between the two countries
Fourth, Japan is a densely populated country. Likewise, China's eastern region, with the country's most developed economy, is not only populous but close to Japan in its environment. Therefore, East China could take some references to Japan in its social development.
Fifth, China-Japan economic and trade relations take place in a global backdrop, namely, a tendency of economic globalization and integration of regional economies. Different economies all over the world tend to be increasingly interdependent. In some way, China-Japan economic ties have been merged into ‘China-Japan economic relations in the global framework'. Recently, China, Japan, South Korea, along with other countries in East Asia, jointly launched a fund program in response to the potential financial fluctuation in the world, which indicated that the economic cooperation of the East Asian countries also has some strategic significance, and that the East Asian region will play a role in economic integration.
Last but not least, economic relations in essence are that of mutual benefit, which is seen more clearly in China-Japan economic ties. The government aids and business investment form the Japanese side will greatly benefit China's economic and social development. On the other hand, Japan's exports to China could help Japan get rid of its 10-year-long economic gloom. In the mean time, China's exports to Japan will make it possible for Japanese people to maintain a high living standard.
In conclusion, at present, China-Japan economic and trade relations are broad in size and relatively solid. If both sides can forgo the past grievance and steer clear of political obstacles, their economic cooperation will be making a headlong progress with full drive and confidence. After all, Japan's economic view should be focused on Asia. China is accelerating its pace of industry restructuring and technology upgrading, and in future, a new prospect to further boost economic ties between the two countries will be opened up.
By People's Daily Online
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