Japan, China to hold finance talks amid protectionism concernsMay 6, 2017 - 10:46 AMT PanARMENIAN.Net - Japan and China will hold their first bilateral financial dialogue in two years on Saturday, May 6 to discuss risks to Asia's economic outlook, such as the protectionist policies advocated by U.S. President Donald Trump and tension over North Korea, officials said, according to Reuters. Chinese Finance Minister Xiao Jie, who missed a trilateral meeting with his Japanese and South Korean counterparts on Friday for an emergency domestic meeting, has flown in for the bilateral dialogue, seeking to dispel speculation his absence had diplomatic implications. Xiao and Japanese Finance Minister Taro Aso will discuss issues ranging from North Korea's nuclear and missile program to the two countries' economic outlook and financial cooperation during the dialogue, to be held on the sidelines of the Asian Development Bank's annual meeting in Yokohama, eastern Japan. Senior finance officials from both countries will also hold a separate round of talks, Japanese Finance Ministry officials say. Relations between Japan and China have been strained over territorial rows and Japan's occupation of parts of China in World War Two, though leaders have recently sought to mend ties through dialogue. Still, China's increasing presence in infrastructure finance has alarmed some Japanese policymakers, who worry that Beijing's new development bank, the Asian Infrastructure Investment Bank (AIIB), may overshadow the Japan-backed ADB. Japan and China do agree on the need to respect free trade, which is crucial to Asia's trade-dependent economies. Finance officials from Japan, China and South Korea agreed to resist all forms of protectionism in Friday's trilateral meeting, taking a stronger stand than G20 major economies against the protectionist policies advocated by Trump. China has positioned itself as a supporter of free trade in the wake of Trump's calls to put America's interests first and pull out of multilateral trade agreements. Japan has taken a more accommodative stance toward Washington's argument that trade must not just be free but fair. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |