Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Earth Science News .




POLITICAL ECONOMY
China banks sit out Tokyo IMF-linked events: report
by Staff Writers
Tokyo (AFP) Oct 3, 2012


Chinese banks have pulled out of events linked to annual meetings of the International Monetary Fund and World Bank in Japan next week, a report said, as Tokyo and Beijing remain locked in a diplomatic row.

Although many of those apparently planning no-shows gave no specific reason, Dow Jones Newswires said Tuesday, it is the latest sign that a festering spat over islands in the East China Sea is having a wider impact on bilateral, and now multi-lateral ties.

"Quite frankly, it's Japan-China relations," Dow Jones Newswires quoted an official at the Tokyo branch of the Agricultural Bank of China as saying to explain why the bank was pulling out of IMF-related events.

The bank is still sponsoring and participating in a meeting of the Institute of International Finance -- a global association of financial institutions -- that takes place in Tokyo on the sidelines of the IMF meeting, the report said, citing another anonymous official.

A bank official contacted by AFP declined to comment on the report, saying the Tokyo branch was not authorised to speak on the issue.

The Bank of Communications has also pulled out of IMF-related events, Dow Jones reported, adding that China Construction Bank said its China-based officials had scheduling problems that were preventing them from attending.

The Bank of China had not decided if representatives would attend the IMF meetings, it said.

Officials from the banks were not immediately available for comment when contacted by AFP.

Japan's vice finance minister Takehiko Nakao said Tokyo had not been officially informed of the boycott, but was aware of the reports.

"It's very disappointing," he said, adding the economic relationship between the two countries was very important.

"Political difficulties shouldn't prevent this kind of exchange between Japan and China taking place," he said.

Tensions between Beijing and Tokyo remained high this week, with Chinese government ships returning to waters off the Japanese-controlled islands Tuesday and again on Wednesday.

Last week Japanese and Chinese diplomats clashed at the United Nations in New York over the ownership of the islands known as the Senkakus in Japan and the Diaoyus in China.

China is seeking a bigger say in world affairs, commensurate with its growing financial clout, but commentators say actions such as the withdrawal of its banks from the IMF-linked events undermine that ambition.

"China may rightly demand a seat at the head table, but what signal does it send when they go off in a huff over these types of issues?" said Fraser Howie, who has written on China's financial system.

"Such boycotts are pointless. They only harm China and make China out to be an unstable and unreliable partner."

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





POLITICAL ECONOMY
Walker's World: Can the euro make it?
Washington (UPI) Oct 1, 2012
Can the euro succeed and the stricken countries of Greece, Portugal, Ireland and Spain haul themselves back to prosperity? Some very smart people in Europe believe that the bitter medicine of austerity not only can work but that it is working. At a very high-level banking conference in Paris last week, conducted behind closed doors so no names can be cited, this columnist heard the most ... read more


POLITICAL ECONOMY
Hong Kong seeks answers after deadly ferry crash

18 school children buried in China landslide

World facing unprecedented refugee crisis: UNHCR

Twenty-five killed in Hong Kong ferry collision: official

POLITICAL ECONOMY
HP stock sinks with slow turnaround

Malaysia hearing on Australia rare earths plant postponed

Ancient stinging nettles reveal Bronze Age trade connections

Probing the mysteries of cracks and stresses

POLITICAL ECONOMY
Now in Science: It's not too late for troubled fisheries

White shark diets vary with age and among individuals

Australia admits neglect of Great Barrier Reef

New clues about ancient water cycles shed light on US deserts

POLITICAL ECONOMY
Australian tycoon fined for Arctic party cruise

Study: Arctic warming faster than before

Rudolph unfed loathes rain, dear

Melting Arctic ice cap at record low

POLITICAL ECONOMY
Mother of cultivated rice came from China's Pearl River

Sandia probability maps help sniff out food contamination

An Old Pest Reemerges in Organic Orchards

Bhutan aims to be first 100% organic nation

POLITICAL ECONOMY
Typhoon Maliksi nearing Japan's northeast

Nigeria seasonal floods kill 148: Red Cross

Powerful typhoon hits Japan mainland

Typhoon Jelawat on course to hit mainland Japan

POLITICAL ECONOMY
Nigeria seeks to end the curse of unfinished projects

Ivory Coast opens first major trial of soldiers in political crisis

France to facilitate Mali anti-rebel force

One-third of Lesotho faces food crisis: UN food agency

POLITICAL ECONOMY
Compelling evidence that brain parts evolve independently

Anti-aging pill being developed

Human Brains Develop Wiring Slowly, Differing from Chimpanzees

Breaking up harder to do on Facebook




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement