April 4, 2006
Written by C.N.
In a sign of the increasingly tense and even hostile relationship between the two Asian superpowers, Japan just announced that it will indefinitely cease providing loans to Japan:
Ties between Japan and China have deteriorated sharply in the past year. The two are feuding over maritime gas deposits, interpretations of World War II history and other issues. Japanese aid to China has also come under increasing domestic scrutiny the past few years as Beijing’s economy has boomed while Japan’s had wallowed in a decade-long slowdown. . . .
Much is at stake for both sides. Energy-hungry China wants to expand its own resource base, while trade with its fast-growing neighbor is a key factor in Japan’s own economic revival.
The turmoil continues. This seems to be related to Japan’s recent spate of actions that have antagonized its Asian neighbors and the international community. As such, it again highlights how Japan is apparently acting like a spoiled and overprivileged little brat — always used to getting its way, but once somebody begins to stand up to it, it throws a tantrum.
Memo to Japan: the world is becoming increasing interdependent. Globalization is real. If you don’t keep up with the times, you’re going to be left in the dust.
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Suggested reference: Le, C.N. . "Japan Suspends Loans to China" Asian-Nation: The Landscape of Asian America. <http://www.asian-nation.org/headlines/2006/04/japan-suspends-loans-to-china/> ().
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