China's Fast Growth Poses no Threat: Former Japanese PM

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Last updated at: (Beijing Time) Friday, July 05, 2002

China's Fast Growth Poses no Threat: Former Japanese PM

China's fast economic growth should not be regarded as a threat to Japanese firms but rather an opportunity, says former Japanese Prime Minister Yoshiro Mori, addinging no matter what kind of problem occurred, there must be ways and means to solve it as long as the two sides showed mutual respect and understanding.

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China's fast economic growth should not be regarded as a threat to Japanese firms but rather an opportunity, says former Japanese Prime Minister Yoshiro Mori.

Addressing a forum to promote Sino-Japanese cooperation held in Beijing Thursday, Yoshiro Mori said the two countries should work closely to contribute to the prosperity of the regional and world economy.

China is now Japan's second largest trading partner. Mori predicted that with the sustained growth of the Chinese economy, there would be an expansion of business and trade cooperation between the two countries.

Citing friction as "unavoidable" with expanding bilateral trade and business relations, he said that no matter what kind of problem occurred, there must be ways and means to solve it as long as the two sides showed mutual respect and understanding.

Moreover, Mori noted that China has been playing an increasingly important role in the world economy. As a member of the World Trade Organization, he acknowledged, China could make further efforts towards the establishment of a fair and new international economic order.

Besides cooperation in trade and business, Japan and China also enjoy active exchanges in culture, arts and sports, said Mori. "As a statesmen, one of my responsibilities is set to promote contacts and exchanges among people of different countries," he added.

He also expressed his pleasure at visiting China with many Japanese businesspeople and experts. "I believe that this forum will surely further promote understanding and exchanges between the business circles of both countries," the former Japanese prime minister said.

Bilateral Relations between China and Japan

Political Relationship: Date of Normalization of Sino-Japanese Relations: September 29,1972.

At present, the Sino-Japanese relations have, on the whole, witnessed smooth development. The friendly exchanges and mutually beneficiary cooperation in various areas have made constant progress, which have not only brought about significant interests to the two countries, but also made positive contributions to the regional peace, stability and development and the world as well.

Bilateral Trade: Japan is our greatest trade partner, while China remains as the second biggest to Japan. The bilateral trade volume in 1997 amounted to 60.8 billion US dollars, a record high in history. In 1998, the total volume of Sino-Japanese trade was 57.89 billion US dollars, decreased by 4.8% compared with that of the previous year. The export volume to Japan was 29.69 billion US dollars against an import of 28.2 billion dollars, enjoying a trade surplus of 1.5 billion US dollars, 47.7% lower than that of the previous year. >>more information

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