S. Korea, China, Japan to hold 3-way free trade talks in December

[Aepsilons]

South Korea, China and Japan will hold a new round of talks in December aimed at forging a three-way free trade deal, China's commerce ministry has said, citing "some positive developments" in the previous round of negotiations.

Since launching the talks in late 2012, the three nations have made little headway toward a deal that, if successful, would create one of the world's biggest economic blocs with a combined gross domestic product of $15 trillion.

China's commerce ministry spokesman Shen Danyang told reporters on Thursday that the three nations reported "some positive development on some issues" during the previous round of talks, which was held in Beijing from Sept. 24-25.

South Korea, China and Japan agreed to forge a "high-standard FTA," Shen said, according to his remarks posted on the Chinese ministry's website on Friday.

Shen did not elaborate further and a ninth round of three-way free trade talks will be held in December in Japan.

The United States and 11 Pacific Rim nations, including Japan, reached the Trans-Pacific Partnership (TPP) earlier this month that covers about 40 percent of the global economy. South Korea has said it may eventually join the TPP.

Diplomatic tensions between China and Japan run deep because of competing claims over islands in the East China Sea. Relations between Seoul and Tokyo also remain frayed over Japan's unrepentant attitude over its wartime atrocities, including the sexual enslavement of women by the Japanese military during World War II. (Yonhap)

S. Korea, China, Japan to hold 3-way free trade talks in December

 

[Shotgunner51]

Korea, China, Japan to boost 3-way trade

Korea's Trade, Industry and Energy Minister Yoon Sang-jick, center, poses with Japanese Trade Minister Hayashi Motoo, left, and China International Trade Representative Zhong Shan during the 10th Trilateral Economic & Trade Ministers' Meeting at the Four Seasons Hotel in central Seoul, Friday.

Seoul, 30th October 2015


Other links: Japan, China, S Korea trade chiefs focus on 3-way, regional FTAs | TODAYonline

 

[Abacin]

Japan paid economic prices in TPP for the exchange of military freedom. Now they want to come to China to earn back the payment. Something is deeply wrong in Chinese foreign policy. We subsidize Taiwan Independence movement and subsidize Japanese military expansion for the sake of short term money at the future cost.

 

[Abacin]

Japan and China are on strategic conflicts not only geopolitically but also economically. Japan wants to ruin China as the world's manufacturing hub. It thinks that it can collaborate with ASEAN to undercut Chinese manufacturing power. Look at hostile bid competition with Japan happening everyday worldwide. It only wants resources and markets from China to scale down the cost. Instead of China-Korean-Japan economic Alliance, it wants Japan-ASEAN alliance since it can have leadership in this alliance. Do not let them use China to scale down the cost and improve the profit margin.

When US starts to raise interest rates, their low profit margin investments in ASEAN will repeat what happened in 1998 and burst right away. China should work together with United States to cut the fleeces, instead of saving them like in 1998. China should learn from United States to profit from others' trouble instead of helping them. There are someone you should help, but there are also someone you need to drop your rock on them.

 

[Abacin]

China treats the establishment of manufacturing power in ASEAN as the extension of Chinese manufacturing hub, or East Asia manufacturing hub. But Japan wants to establish a new manufacturing hub with the Japan-ASEAN alliance to challenge manufacturing power of China. Japan is making a huge bet on it. But Japan is doomed, just as happened in many business.
Japan doesn't have the ability to establish industrial standard, but Japan always overestimates itself. When Japanese standard is overturned, Japan is wiped out of that part of business, such as wireless equipment, networking equipment etc. Japan is competing with China on high speed railway standard. I bet Japan will lose again. All countries using Japanese HSR standard will suffer huge maintenance costs when this standard is throwing away.

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For high speed railway, United States clearly put China ahead of Japan. China, Europe and United States will isolate Japan on this, just as we have done the same thing on many areas such as internet, wireless etc. This is why Japan's industries fail one after another, wiped by the industrial alliance formed by China-Europe-United States.

Japan gains support from low level industrial powers such as Vietnam,Thailand and India on HSR. China is gaining support from standard setting industrial powers such as Europe and United States because we can do profit sharing while Japan doesn't know how to do it. Many US and Europe companies can also profit from Chinese HSR projects while Japan always favor domestic alliance due to extreme national pride.