Posted on 10/26/2010 7:49:24 AM PDT by TigerLikesRooster
Japan, India agree on tighter ties amid China risk
TOKYO, Oct 25 – Japan and India pledged closer strategic ties between Asia’s second and third biggest economies in talks today, as Tokyo struggles to offset the risk of its growing dependence on giant rival China.
Trade and investment flows with India have been unspectacular as Japanese firms focus on business with China and Southeast Asia, but recent Sino-Japanese tensions have underscored the risk of over-reliance on China’s dynamism to help Japan’s stalled economy.
Indian Prime Minister Manmohan Singh and Japanese Prime Minister Naoto Kan endorsed a bilateral economic partnership deal and urged speedy agreement on a civil nuclear pact that would give Japanese firms access to India's fast-growing market.
They also decided to seek cooperation in developing, recycling and finding substitutes for rare earth minerals and rare metals, used in goods such as electronics and auto parts. Japan's government has expressed concern that China is holding back shipments of rare earth after a recent territorial row.
“India is the world’s biggest democracy and it currently has the world’s second biggest population. Its growth potential matches that of China,” Kan told reporters after meeting Singh. “Japan-India ties have great possibilities.”
(Excerpt) Read more at themalaysianinsider.com ...
P!
China can’t be happy about this but I am! Let’s put China back in its box!
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