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Economic And Trade Relations Of Japan And China

1889 words - 8 pages

Economic and Trade Relations of China and Japan

China contains more than 5,000 years of history. This remarkably long past earns china the title of the oldest civilization in the world. The country possesses the largest population of 1.344 billion and a Gross Domestic Product (GDP) of $7.318 trillion in U.S. dollars ("World bank, china," 2011). Although China has an extremely high GDP, the extremely large population is a problem since they cannot provide enough resources for the entire population. This makes it imperative for China to trade and have relations with the world around them and participate in the global economy. That being said, with there incredibly dense population, ...view middle of the document...

In March 1012, China adopted its 12th five-year plan, which focuses on the continuance of economic reforms and increasing domestic consumption to make the country's economy less dependent on exports in the future. Unfortunately, China is going to have a difficult time making that shift.
Japan, in the Years after World War II, has maintained government-industry cooperation, mastery of high technology, and strong work ethic which enables them to be a highly technologically advanced economy. This was remarkable when taking into consideration that Japan was left in disastrous condition at the conclusion of World War II. The fascinating thing is that in the post-war economy, there were highly interlocking structures of manufacturing, suppliers, and distributers. The Japanese knew this as Keirstsu. On top of this, they even has a guarantee of lifetime employment for a large portion of their population. Unfortunately, this is now falling out dues to the pressures of global competition.As of 2012, Japan possesses a population of a little over 1.27 million on 377.8 kilometers of islands and its labor force has about 65.93 million people. They have a tiny agriculture sector that produces some of the highest crop yields in the world. Japan still has one of the highest fishing fleets and makes up about 15% of the clonal catch ("Index mundi: Japan," 2012). In the past few decades, Japan economy has been slowing down, in which was mentioned earlier, China supposing them in 2001, and India supposing them in 2011. Now Japan is the 4th largest economy in the world. Business investment and global demand for Japanese exports shortened and put Japan deeper into recession. They were able to recover until 2011, when an earthquake stopped manufacturing and created a tsunami. The damages, from the natural disaster ranged from $235 - 310 billion U.S. dollars. To help Japan recover, Japan has been discussing the move to open up Agricultural and service sectors to greater foreign competition. Moreover, they are planning to boost exports again through the U.S.- led Trans-Pacific Partnership Trade talks and by pursuing free-trade agreements (FTA) with the EU and others including China. Sadly, Japan has a government debt that is fare greater than its GDP.
Japan and China are separated by the East China Sea, but they are historically connected and have had a an extremely complicated relationship. They have had a long history together since the ancient times. China has influenced Japan's Language (Kanji), Buddhism, pottery, architecture, and philosophy. The way that most people would describe their relationship is one that is "economically hot and politically cold." The perceptions of each other go as follows: For Japans's perception of China, they view them as culturally close. The Japanese people seem to have a sense of guilt for occupation and war time in China. China seems to hold that grudge very tightly. Japan has a slight fear of China as an aggressor over...

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