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Why did China renounce right to war reparations from Japan?

beijingwalker

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Why did China renounce right to war reparations from Japan in a 1972 treaty?

China waived its demand for war indemnities from Japan. (This demand was first made in the mid-1950s; the war reparations claims totaled as much as the equivalent of US$50 billion.) Diplomatic relations were to be established as of September 29, 1972. Japan and China also agreed to hold negotiations aimed at the conclusion not only of a treaty of peace and friendship but also at agreements on trade, shipping, air transportation, and fisheries. Sino-Japanese trade grew rapidly after 1972. In January 1974, a three-year trade agreement--the first of several working agreements covering civil air transportation, shipping, fisheries, and trademarks--was signed. Arrangements for technical cooperation, cultural exchange, and consular matters were also undertaken.
 

beijingwalker

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According to the Foreign Ministry of Japan, Japan held overseas assets of 238 billion yen in Manchukuo, China in Aug 6 1945 (still WW2 was going on). Manchukuo was a territory of Japan at that time.
Fixing exchange rate was very difficult at this era. However, after Japan surrendered, the exchange rate between US$ of GHQ and Japanese JP¥ were US$1=JP¥15. If we used this rate, 238 billion yen would be about US$ 16 billion.

In 1972, Japanese prime minister Kakuei Tanaka visited China and met Mao.
After the "Joint Communique between Japan and China" on Sep 29 1972, Japan started to pay lots of money to China as the form of ODA (Official development assistance). The amount paid to China reached over US$30 billion until present day, and 20 billion of them became pure donation (China don't need to pay back the 20 bil).

Japan paird for Burma, Indonesia, the Philippines, and Vietnam. Cos Japan didn't develope and leave important assets in these countries.
Japan paid US$200 million for Burma (former nation of Myanmar) with the treaty on November 5 1951.
To Phillipines, Japan paid US$550 million along with the compensation agreement of May 9 1956.
To Indonesia, Japan paid US$223 million along with the compensation agreement of January 20 1958.
To Vietnam, Japan paid US$3.9 million along with the compensation agreement of May 13 1959.).
 

beijingwalker

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China is too nice to the defeated but also suffering Japanese people,we were not like other countries just kicking them when they were down and grabbing their money.China suffered most in the war but waived Japan's astronomical indemnity to China.till now,they still at least owe China US$30 billion.we hope the government do something to redress this issue.you just can not be too nice.
 

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