Toyota says China-Japan economic ties are still vital, despite territorial dispute

Article by Andrew Christian, on March 25, 2013

Fujio Cho, the outgoing chairman of Toyota Motor Corp, led a delegation that recently met with the new lineup of Chinese leaders. Cho was with a group of businessmen from the Japan-China Economic Association as they met with newly named Chinese Vice President Li Yuanchao to discuss the continued economic exchanges between the two countries even while a territorial dispute is ongoing.

There had been widespread protests over a conflict relating to several islets in the East China Sea that both countries are claiming. The rocky islets, which Japan refers to as Senkaku in Japan and which China has named Diaoyu, are located near rich fishing grounds and may possibly hold enormous oil and gas reserves.

Cho, who is set to leave his position as Toyota chairman this June, told reporters that economic exchanges should be maintained even as there are political problems. He added that he feels both sides are aware of this. Kenji Inaba, a director of the Japanese association, said that Li told the Japanese group that he aims to improve relations with Japan, and that this will serve the basic interest of both countries.

There remains an anti-Japanese sentiment and this affects vital trade and economic relations. The combined January-February sales of Toyota in China declined by 13% compared to the same period the previous year.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

You may also be interested

Iti mai recomandam

When the BMW 2002 Hommage Concept was first revealed to the public, not everyone was amused. It was designed to celebrate the 02 Series’ 50th anniversary yet people still needed...
by - August 26, 2016
Cadillac has this thing where they debut their concept cars at the Pebble Beach Concours d’Elegance. In 2011, the very impressive Ciel concept was unveiled at the said event and...
by - August 25, 2016
A year ago we were introduced to Mercedes-Benz’ F015 Luxury in Motion self-driving concept car. Although the German automaker is not on the forefront of the self-driving car revolution, it...
by - August 24, 2016
People in general have this certain fascination for all things “super”. Some of these have made it to headlines such as supermodels, action-packed movies featuring our favorite superheroes, and then...
by - August 23, 2016
For almost a century, Bentley has been one of the leading luxury motorcar manufacturers. It has always prided itself for producing hand-built luxury vehicles that have been given a lot...
by - August 16, 2016