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Trade & Investment

China may impose economic sanctions on Japan


Senkaku/Diaoyu Islands

According to reports today by both Singtao Daily and SCMP, the dispute over Diaoyu Islands may severely damage the economic ties between China and Japan.

SCMP says: “Jin Baisong, a researcher with the Chinese Academy of International Trade and Economic Co-operation under the Ministry of Commerce, told the China News Agency that Beijing might impose formal economic sanctions on Japan.

“‘Economic sanctions would make the Japanese government understand that it must pay a steep price for its provocations at the Diaoyu Islands,’ he said.”

Singtao further quotes Jin’s words that economic and trade antagonism will certainly do harm to both countries due to the close economic reliance between the two countries, but China can better sustain the damages than Japan as Japan’s economy relies heavily on China. As soon as China begins its economic sanctions, there will be an economic crisis in Japan.

Singtao says that Jin Baisong stressed that strategic resources will be an effective economic “trump card” to contain Japan. For example, China may control its export of rare earth metals that are indispensable raw materials for Japan’s high-end manufacturing industries.

China is now Japan’s largest export market, absorbing 20.6% of Japan’s exports. Due to strong nationalism, Chinese people have already been buying less Japanese products. For example, in August sales of Japanese cars dropped 2% while total sales of cars in China rose 11%. Sales of Japanese electrical appliance also dropped sharply in Beijing, Shanghai and Guangzhou.

On the evening of September 11, China Comfort Travel, a travel giant with over 5,500 outlets all over China announced that it would immediately cease arrangement of travel to Japan. Its spokesman said that its decision to do so would undoubtedly harm its economic interests and even affect its staff’s income, but the sovereignty of the nation was above everything. In order to show Chinese people’s just indignation, the company would rather suffer loss in its interests.

Click here for all stories about Senkaku Islands (Diaoyu Islands)

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About chankaiyee2

Author of the book "Tiananmen's Tremendous Achievements" about how with the help of Tiananmen Protests, talented scholars with moral integrity seized power in the Party and state and brought prosperity to China. The second edition of the book will be published within a few days to mark the 25th anniversary of Tiananmen Protests All the parts in the first edition remain in the second edition with a few changes due to information available later and better understanding. There are also some changes for improvements of style. The new parts are Chapters 12-19 on events in China after the first edition was published: The fierce power struggle for succession between reformists and conservatives; Xi Jinping winning all elders’ support during his mysterious disappearance for 2 weeks in early September, 2012; and Xi Jinping Cyclone. Chan Kai Yee's new book: SPACE ERA STRATEGY: The Way China Beats The US An eye-opening book that tells the truth how the US is losing to China. The US is losing as it adopts the outdated strategy of Air-Sea Battle while China adopts the space era strategy to pursue integrated space and air capabilities: It is losing due to its diplomacy that has given rise to Russian-Chinese alliance. US outdated strategy has enabled China to catch up and surpass the US in key weapons: Hypersonic weapons (HGV) that Pentagon regards as the weapon that will dominate the world in the future. Aerospaceplane in China’s development of space-air bomber that can engage enemy anywhere in the world within an hour and destroy an entire aircraft carrier battle group within minutes. Anti-satellite (ASAT) weapons, anti-ASAT weapons, stealth aircrafts, drones, AEW&C, etc. The book gives detailed descriptions of China’s weapon development based on information mainly from Chinese sources that the author monitors closely. U.S. Must Not Be Beaten by China! China is not a democracy. Its political system cannot prevent the emergence of a despotic leader or stop such a leader when he begins to bring disasters to people. A few decades ago, Mao Zedong, the worst tyrant in world history did emerge and bring disasters to Chinese people. He wanted to fight a nuclear war to replace capitalism with communism but could not bring nuclear holocaust to world people as China was too weak and poor at that time. If a despot like Mao Zedong emerges when China has surpassed the US in military strength, world people will suffer the misery experienced by Chinese people in Mao era. China surpassing the US in GDP is not something to worry about as China has the heavy burden to satisfy its huge population, but China surpassing the US in military strength will be world people’s greatest concern if China remains an autocracy. US people are of much better quality than Chinese people. What they lack is a wise leader to adopt the correct strategy and diplomacy and the creative ways to use its resources in developing its military capabilities. I hope that with the emergence of a great leader, the US can put an end to its decline and remain number one in the world. China, US, space era strategy, air-sea battle, space-air bomber, arms race, weapon development, chan kai yee

Discussion

One thought on “China may impose economic sanctions on Japan

  1. Reblogged this on Bible Study Truth Today and commented:
    WW111 is on the Rise China may impose economic sanctions on Japan

    Like

    Posted by Daniel Leach | September 15, 2012, 5:22 pm

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