Tokyo (AsiaNews/Agencies) – China and Japan are working together to jumpstart the slumping world economy and implement quick global trade liberalisation, Chinese Vice-Premier Wang Qishan and Japanese Foreign Minister Hirofumi Nakasone announced at the end of a one-day economic ministerial meeting in Tokyo yesterday.
“On the global economic and financial crisis, both countries agreed to implement what was agreed at the London summit swiftly and in a solid manner in order to realise a global economic recovery soon,” Mr Nakasone said.
At their London summit in April G20 developed and emerging economies agreed to commit US$ 1 trillion to the International Monetary Fund and other global bodies to help struggling countries. They also agreed to push for greater regulation of the global financial system.
Mr Wang agreed that international cooperation between states is needed to overcome the global crisis.
Both Japan and China (respectively the world's number two and three economies) want an early conclusion to the Doha Round on trade liberalisation to stimulate the world’s economic recovery.
Both countries, which rely heavily on exports, are afraid that in the current crisis the United States and other countries might adopt protectionist measures, penalising foreign manufacturers in favour of domestic ones.
Sunday's meeting was the second of its kind between the two countries. The inaugural round of the Japan-China dialogue was held in Beijing in December 2007
After decades of cool relations the two Asian nations want to develop multi-level cooperation.
China is increasingly becoming a major player, and not only in the Asia-Pacific region, but elsewhere as well.
It is also playing a key role in the North Korean nuclear issue, as it tries to de-escalate the confrontation.
Wang came to Tokyo with an 80-strong delegation. His delegation and their Japanese counterparts also discussed climate change, energy conservation and environmental protection.