Skip to main content

Belt & Road Initiative offers great opportunities to Japan, say experts


TOKYO, May 5 (Xinhua) -- China's Belt and Road Initiative offers great opportunities for Japanese enterprises and will help the country restructure its economy, say experts.

Proposed by China in 2013, the B&R Initiative aims to build a trade and infrastructure network connecting Asia with Europe, Africa and beyond based on ancient land and maritime trade routes.

Jin Jianmin, a senior fellow at Fujitsu Research Institute in Tokyo, said that with population aging and low fertility, Japan is particularly dependent on global free trade for its economic development.

The infrastructure projects along the Belt and Road route will present great business opportunities for Japanese enterprises, especially with efficient access to rising Eurasian economies, he said.

"Japan has been trying to reach free trade agreements with Europe and countries in the Asia-Pacific region, but lacks efficient access to the Eurasian area which now enjoys relatively fast development," said Jin, adding that the initiative can provide Japan with a chance to share in Eurasian growth.

He said that Japanese companies could also benefit from the expertise of Chinese enterprises in exploring emerging markets through cooperation under the B&R framework.

Eiichi Shindo, emeritus professor at University of Tsukuba, said that with emerging economies gradually overtaking their developed counterparts, Japan should grasp opportunities in the B&R to help grow its economy.

"The B&R Initiative embodies the trend of structural change in the Asian economy, and in face of the new circumstances in Asia, we should ride the trend and achieve win-win cooperations between China, Japan and South Korea and then expand such cooperation to the whole Eurasian area," he said.

In the eyes of Kiyoyuki Seguchi, research director of the Canon Institute for Global Studies in Tokyo, effective B&R projects will contribute to the medium and long-term economic development of the region and thus benefit the Japan.

"If projects with good content are effectively implemented, they can be expected to promote the globalization of many Japanese companies whose response to globalization has been delayed," Seguchi said.

Analysts point out that the Japanese government is increasingly aware of the benefits of the B&R. Japanese Prime Minister Shinzo Abe said earlier this year that Japan would "properly respond" to individual projects related to the B&R.

Japanese media say that Tokyo plans to work with Beijing on the initiative by financially supporting private-sector partnerships. Cooperation will center on areas like the environment, industrial modernization and logistics.

Japan's new cooperative stance would also help improve bilateral ties with China, experts noted.

"With the government's attitude turning supportive, Japanese enterprises can start to find more direct ways of participation," said Jiang Yuechun, director of the Department for World Economy and Development Studies at China Institute of International Studies.

According to Seguchi, Japan has been suffering from economic stagnation since the 1990s. "If the Japanese economy could get out of this stagnation through cooperation with China and recover its vitality," Jiang said, "it would also make a greater contribution to the world economy

http://www.xinhuanet.com/english/2018-05/05/c_137158121.htm

Comments

Popular posts from this blog

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

China’s 'Digital Silk Road': Pitfalls Among High Hopes

https://thediplomat.com/2017/11/chinas-digital-silk-road-pitfalls-among-high-hopes/


Will information and communication technologies help China realize its Digital Silk Road?By Wenyuan WuNovember 03, 2017In his speech at the opening ceremony of China’s 19th Party Congress, President Xi Jinping depicted China as a model of scientific and harmonious development for developing nations. Xi’s China wants to engage the world through commerce but also through environmental protection and technological advancement. This includes Beijing’s efforts to fight climate change with information and communication technologies (ICTs) that it plans to export along its “One Belt One Road” initiative (OBOR). Xi may have ambitious plans, but could China be throwing up obstacles in its own way?In his speech, the Chinese president emphasized the need to modernize the country’s environmental protections. The Chinese state is taking an “ecological civilization” approach to development and diplomacy, with a natio…

Germany’s Siemens sets up Belt and Road office in Beijing

https://gbtimes.com/germanys-siemens-sets-up-belt-and-road-office-in-beijing
Germany’s Siemens sets up Belt and Road office in Beijingby Janne Suokas Mar 23, 2018 15:20 TRADEINVESTMENTBELT AND ROAD INITIATIVEGerman industrial and engineering group Siemens will set up a Belt and Road office in Beijing. surberFlickrCC BY 2.0
German industrial and engineering group Siemens will set up an office in Beijing to boost international cooperation under China’s Belt and Road initiative, the company said on Friday.The move will help strengthen Siemens’ cooperation with Chinese and international companies and expand business opportunities brought about by the Belt and Road initiative, according to the company’s statement.The Belt and Road initiative is China’s ambitious project to boost trade and infrastructure investment in more than 65 countries along the ancient Silk Road trade routes from Asia to Europe and Africa.Siemens said it had already partnered with hundreds of Chinese companies in overse…