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Wednesday, September 19, 2012

War of words escalates between rivals as China threatens to cripple Japanese Economy with Economic sanctions


China may introduce economic measures to cripple Japan in order to gain the upper hand in a territorial row. Following violent anti-Japanese protests and increasingly bellicose rhetoric, Beijing could employ sanctions to subdue its neighbor.
State newspaper China Daily wrote that China should take “strong countermeasures” in light of the “ridiculous” Japanese nationalization of the isles, called the Diaoyu by the Chinese.
The paper suggests that while open war should a last resort the country should be pursuing sanctions to respond to what it sees as Japanese “provocation.”
Citing the freeze on banana imports when the Philippines contested the Huangyan Islands in April, the publication said “it is important for China to devise a sanction plan against Japan that would cause minimum loss to Chinese enterprises.”
“Japanese companies earn huge profits from their exports to China. That means China is in a lot better position to afford a loss in exports,” wrote Jin Baisong from the Chinese Academy of International Trade. In this way he stipulated that China could deal a heavy blow to the Japanese economy without doing significant damage to its own.

“Japan should reconsider its financial health. In other words, with Japan's national debt at stake… And China can use it to find ways to impose sanctions on Japan in the most effective manner,”
 said the article.
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