Xi wants Japan in AIIB as Beijing and Tokyo mend fences

Toshihiro Nikai, secretary-general of Japan’s Liberal Democratic Party, left, and Chinese President Xi Jinping at a meeting in Beijing on May 16. © Kyodo

 

Abe government may reconsider membership in China-led investment bank

TOKYO — Japan could reopen talks on whether to join the China-led Asian Infrastructure Investment Bank, a senior lawmaker signaled Tuesday after meeting with Chinese President Xi Jinping to discuss improving bilateral ties.

Toshihiro Nikai, secretary-general of Japan’s ruling Liberal Democratic Party, did not discuss the matter with Xi directly during the pair’s 17-minute talk in Beijing on Tuesday, which was concerned mainly with the possibility of Chinese leaders including Xi visiting Japan and Prime Minister Shinzo Abe visiting China. But Nikai told a news conference afterward that he would discuss the matter thoroughly with Abe when he returns home. Continue reading

It’s not checkmate yet: Beijing to counter US-led Trans-Pacific Partnership trade pact

https://www.scmp.com/sites/default/files/2015/10/07/tpp-trade-graphic.png

 

China to speed up talks on regional accord in face of landmark Trans-Pacific Partnership deal

China will seek to quicken the pace of its free-trade negotiations with other Asia-Pacific economies to counter a mammoth Washington-led trade pact in the region, observers say.

The United States and 11 other countries that in total make up 40 per cent of the world’s economy scored a landmark Trans-Pacific Partnership (TPP) deal in Atlanta on Monday.

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G-20 Wrestles Currency Tension as Zhou Says Bubble Has Burst

Zhou Xiaochuan, governor of China’s central bank, told a meeting of Group of 20 finance ministers in Ankara that a stock-market bubble in his country had “burst,” according to Japan’s Taro Aso. Another official present at the talks said China had presented the country’s situation as a new normal.

China is on the defensive as its slowing economy and market turbulence send shock waves through emerging markets just as the U.S. is preparing to raise interest rates. With the MSCI emerging market index down 18 percent so far this year, a draft communique prepared before the meeting cited “recent volatility in financial markets” and the need to monitor potential spillovers.

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Japan’s finance minister warns China on yuan depreciation

Japanese Finance Minister Taro Aso on Friday lashed out at China by saying that if the recent yuan devaluation is the beginning of frequent currency manipulation then Tokyo is going to have to take action.

If this move was an effort by Beijing to make its currency system a market-based one, then Japan welcomed the change, Aso said. However, he warned China that Japan would be watching closely to make sure this move wasn’t just a way to give its exports a competitive advantage. Continue reading

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