Asia's economy at risk from dispute
By Wang Yanlin |
October 23, 2012, Tuesday
|
Print Edition
Print Edition
JAPAN'S exports to China in September tumbled 14.1 percent amid the dispute over the Diaoyu Islands as economists warned about the impact the row would have on Asia's economic health.
Shipments to China from Japan fell 14.1 percent from a year earlier to 953.8 billion yen (US$11.9 billion) last month, the weakest since January and the fourth consecutive month for exports to fall, data from the Japanese Finance Ministry showed yesterday.
In particular, shipments of heavy machinery plunged 48.7 percent year on year last month, autos fell 44.5 percent and car parts shed 17.5 percent.
Economists warned the diplomatic row between China and Japan - the world's second-largest and third-largest economies - may put Asia's growth at risk.
According to China's General Administration of Customs, bilateral trade shrank 1.8 percent in the first three quarters.
More than 30 percent of Chinese companies which have business with Japan projected the row will negatively impact their annual sales by 10 percent this year, according to an online survey by Global Sources.
Shipments to China from Japan fell 14.1 percent from a year earlier to 953.8 billion yen (US$11.9 billion) last month, the weakest since January and the fourth consecutive month for exports to fall, data from the Japanese Finance Ministry showed yesterday.
In particular, shipments of heavy machinery plunged 48.7 percent year on year last month, autos fell 44.5 percent and car parts shed 17.5 percent.
Economists warned the diplomatic row between China and Japan - the world's second-largest and third-largest economies - may put Asia's growth at risk.
According to China's General Administration of Customs, bilateral trade shrank 1.8 percent in the first three quarters.
More than 30 percent of Chinese companies which have business with Japan projected the row will negatively impact their annual sales by 10 percent this year, according to an online survey by Global Sources.
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