Chinese, Japanese experts hold dialogue on world economy, bilateral cooperation

TOKYO, May 24 (Xinhua) -- Chinese and Japanese economists had a constructive dialogue on Friday in Tokyo, exchanging views on the global economy under geopolitical tensions and areas where the two countries can strengthen cooperation.

More than 50 experts and scholars from China and Japan attended the dialogue co-sponsored by the Japan Forum on International Relations and the Institute of Japanese Studies, Chinese Academy of Social Sciences, and conducted reports and discussions on a range of economic topics of common concern.

Keisuke Suzuki, a former Japanese state minister for finance, pointed out in his keynote speech that in recent years, the global geopolitical crisis has intensified, and globalization is experiencing a period of rapid upheaval. In this new situation, pursuing free trade and adhering to multilateralism are crucial to the cooperation and development of Japan and China.

Professor Emeritus at Keio University in Tokyo Fukunari Kimura said in his report that due to some obstruction, a rules-based trading order has been weakened, especially with the World Trade Organization's (WTO) dispute settlement mechanism coming to a standstill. It is very important to reinvigorate the functions of the WTO to maintain the global trade order, he said.

Zhou Xiaochuan, vice chairman of the Boao Forum for Asia and former governor of China's central bank, said despite having diverse interests and differences, Asia has more common interests and potential for cooperation.

Asian countries urgently need to take action to take the lead in decarbonization, accelerate the development of non-fossil energy, and jointly strengthen financing the green energy transition, Zhou noted.