Published: Sat, October 27, 2018
Finance | By Cynthia Curry

China and Japan forge historic pact on denuclearisation in Korean Peninsula

China and Japan forge historic pact on denuclearisation in Korean Peninsula

Japanese Prime Minister Shinzo Abe, left, speaks next to Chinese Premier Li Keqiang during a joint press conference at the Great Hall of the People in Beijing, on October 26, 2018.

The visit, the first by a Japanese prime minister in seven years, is expected to enhance ties with China and open up new scope for cooperation, according to experts here.

"Under the new situation, our interdependence with each other has deepened".

"The Chinese Communist Party always has this history card against Japan in their pocket", Takahara said.

The relationship has rapidly warmed after US President Donald Trump imposed massive tariffs on China while also targeting Japanese exports in an effort to cut US trade deficits. Beijing has responded with tariffs of its own on US goods such as soybeans, and no swift resolution to the standoff appears likely.

Abe is also reported to have proposed the establishment of a "development cooperation dialogue" to oversee joint infrastructure projects in other countries.

Japan and China, in building a strategic and mutually beneficial relationship, have the responsibility to properly deal with those issues and steadily develop their friendly and cooperative ties from the big picture, he noted.

"Relations between our two countries will be put back on the right track".

He expressed his hope of facilitating people-to-people exchanges between China and Japan, boosting mutual understanding, and encouraging the young to strive for friendship between both countries.

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Abe will hold talks with Chinese leaders Xi Jinping and Li Keqiang during his three-day visit.

"The two sides are expected to build a new win-win cooperation mode including third-country market cooperation and open up new cooperation scope such as in new economies and innovation sectors", he said. Osuga said he could not confirm that figure, saying they were purely commercial arrangements reached by the companies involved.

During his evening meeting with Xi at the Diaoyutai State Guesthouse in Beijing, the Japanese prime minister said, "We (Japan) would like to join hands with China in contributing to peace and stability in the world". Tourism, trade and investment dropped off and Japanese-brand vehicles and other products were vandalized or destroyed. Ties have also been dogged by enduring Chinese resentment over Japan's invasion and occupation during World War II and a political, military and economic rivalry for influence in Asia and beyond.

"Both countries would like to move their relationship back to focusing on economics and trade and to push aside some of the hard political issues that [represent] a division between the states", Stephen Nagy, from the Tokyo Christian University, said. "Seeing how China has developed is a source of pride for Japan as well". There were no immediate agreements on how to handle the territorial dispute, or the issue of gas resources around the disputed sea border between their exclusive economic zones.

He said discussions will also take place on Delhi's mass rapid transit system, some hydro electric and road projects and how Japan can help in improving infrastructure in the Northeastern states.

For Japan politics and security expert Brad Glosserman, however, Abe is faced with a tough balancing act with the world's two largest economies.

Prime Minister Li endorsed how ties between the two countries had pivoted from full-blown rivalry to growing partnership, especially over the last two years.

Abe's visit to China is hoped to pave the way for a reciprocal visit by Xi to Japan in the near future.

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