British media: Sino-Japanese engage in economic warfare will surely lose-lose

From the economic field, as the world's second and third largest economies, China and Japan, the economic and trade more frequently, high dependence of the economy. Friendly cooperation, mutual benefit and common prosperity brought the two governments and even their enterprise-win situation, but once economic and trade confrontation occurs for some reason, mutual play the economic card, Leaving aside who wins, is the so-called "enemy 1000 injury from the loss of 800 to the end of this "battle" will not be the real winner.

 

On September 11, the Japanese government announced the "purchase" the Diaoyu Islands, the implementation of the so-called "nationalization". China immediately responded, announced the baselines of the territorial sea of ​​the Diaoyu Islands, and sent ocean surveillance ship arrived in the Diaoyu Islands peripherals waters carry activism oath sovereignty. In the context of the situation escalating Diaoyu Islands territorial sovereignty dispute, the Sino-Japanese contest inevitably spread to the economic field, will subsequently expand Sino-Japanese economic confrontation.

 

As early as in 2010, the Japanese coastguard hit Chinese fishing boats seized near the Diaoyu Islands, China announced a freeze on exports to Japan of rare earth two months, which caused a huge shock to the Japanese manufacturing. And in recent days, the boycott of Japanese goods in China wave of surging sales of Japanese goods and services in the Chinese market have hit. The CCTV survey said 9% of users no longer buy Japanese products. The data show that the Japanese brand cars, color TV and other Japanese brand market share in China have recently dropped. Suspend business for many Japanese-owned supermarket in Beijing and other places, at the same time a lot of domestic travel agencies have suspended the tourism business in Japan.

 

Diaoyu Islands dispute what the impact of the Economy, Trade and Industry of China and Japan? I believe that economic sanctions are a double-edged sword, while sanctions against Japan, will also affect the development of the Chinese economy. If I have a winner, looks like the Japanese economy has been hit harder, but also more susceptible to "harm".

 

First, Japan is still in deflation, the Japanese debt is extremely unstable state, economy and society there will be a huge shock, as long as interest rates rise slightly. Secondly, as a typical export-oriented economy, China is precisely Japan's largest exporter. Finally, most of the Japanese corporate profits derived from the Chinese market, mainly against the Chinese earnings in addition to the above-mentioned automotive, appliance and other manufacturing industries, Japan's service industry is dominated by tourism has also been a significant impact.

 

Many Japanese economic circles experts recently issued a series of views that Japanese consumers should be allowed to recognize the importance of the Chinese market for the Japanese economy, if China is to spend the economic card to beat Japan, Japanese companies will suffer serious losses.

 

In general, if the Diaoyu Islands dispute further escalation of the Sino-Japanese economic field contest is imperative, whatever the outcome, the economic development of the two countries are more or less will be affected to some degree, from the outset doomed This is a winner of the contest.