FX fundamental analysis
Tensions started to surface in the mid 1990’s when Chinese activists made attempts to land on the island. Tese moves were swiſtly met by Japanese authorities, who arrested and then evicted them. Te conflict took a new turn in the early nineties when the Chinese Government is reported to have concluded exploration agreements with leading oil development companies for the exploration and production of gas projects in the East China Sea in 2003. Te Japanese Government is said to have expressed concern that the areas in question overlapped with Japan’s exclusive economic zone. Requests for
Japan’s argument is
information from Beijing were rejected and in 2004, the Japanese government confirmed that China had started drilling just 4km from Japanese waters.
Aſter a period of relative calm, the issue flared up again in 2010 when a Chinese fishing boat was caught in Japanese waters and violently resisted arrest from the Japanese coastal patrol. Eventually the Chinese captain was taken into custody, stirring up the diplomatic issue once again and leading to a tit-for-tat diplomatic response by the Chinese. Te Japanese eventually released
the Chinese fisherman following the reported arrest of four that China had no
objections to the Treaty of San Francisco, but only took interest in the islands when the prospect of oil reserves was revealed
Japanese men who had been working on a Government funded project in China on contentious charges. Since then, tensions calmed until mid 2012 when the Japanese Government officially purchased three of the islands from their private Japanese owners. However, the end of 2012 saw both the Japanese General Election and the transition of power in the Chinese Communist Party. As both dates drew closer, tensions soared to
unprecedented levels. Further,
both nations have been experiencing times of economic uncertainty, albeit with differing levels of severity and instability.
逆側はその逆側を持ってい
Te reverse side also has a reverse side Japanese Proverb
JAPAN – TEACHING AN OLD DOG NEW TRICKS
In Japan, the recent election of the LDP and its coalition partners ended the DPJ administration, which held the distinction of being the first non-LPD government since 1955. Te election marks Prime Minister Shinzo Abe’s second term in office, with his first being between 2006- 07. Interestingly his first term was characterized by a concerted and public effort to improve relations with China. However, his return has been defined by a three-pronged plan of action, namely pitting fiscal and monetary reform alongside an aggressive foreign policy.
14 FX TRADER MAGAZINE April - June 2013
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