Royston Carr Asset Management – China and Japan pledge to work together on free trade negotiations at first high-l level economic meeting in almost a decade.
Press Release – updated: May 17, 2018 08:51 EDT
TAIPEI CITY, Taiwan, May 17, 2018 – Last week, Royston Carr Asset Management observed the first high-level economic meeting between China and Japan in eight years. Government officials from China and Japan vowed to intensify discussions on trade relationships.
Japanese Foreign Minister, Taro Kono stated that both countries were aware of the risk to the global economy in the event of a trade war.
Royston Carr Asset Management analysts say that Japanese Prime Minister Shinzo Abe recently made a trip to the United States to address the trade balance with the US in talks with President Donald Trump.
Japan and China also agreed at a ministerial level to intensify talks on a free trade agreement between South Korea, China, and Japan as well as a Regional Comprehensive Economic Partnership. The RCEP is a proposed free trade agreement between a group of 16 countries including Australia, New Zealand, and India.
In spite of strained relations between China and Japan over the last decade due to China’s movements in the East China Sea and tensions around the Senkaku Islands, Royston Carr Asset Management analysts say both countries have agreed to another high-level economic meeting as soon as next year.
Royston Carr Asset Management analysts say that as China and Japan have enjoyed a range of economic benefits thanks to a free trade system, the countries will continue to work towards the development of the global economy and finding a solution to wider global trade conflict.
Royston Carr Asset Management analysts commented that this year marks the 40th anniversary of China’s commitment to overhaul and widen its markets and its economy. China has stated that it remains committed to widening access to its economy for foreign investors.
Source: Royston Carr Asset Management