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Finance & Economy

China to send lower ranking officials to IMF Tokyo meet; snub to Japan


China‘s delegation to the annual meetings of the IMF and the World Bank in Tokyo will not be led by its most senior finance officials, a report from state news agency Xinhua said on Tuesday, in what looked like a deliberate snub of Japan.

According to Chinese protocol, only the most senior officials usually lead such trips, but the report said China’s deputy central bank governor and vice finance minister would be leading the central bank’s delegation later this week instead.

That would imply that the governor of the People’s Bank of China, Zhou Xiaochuan, and Finance Minister Xie Xuren, will not attend. China’s central bank and finance ministry declined to comment when asked earlier by Reuters to confirm whether Zhou and Xie were headed to Tokyo.

If they did stay away, it would be the latest sign that a territorial dispute between Tokyo and Beijing is straining ties between Asia’s two biggest economies.

Sino-Japanese relations deteriorated sharply in September after Japan bought the East China Sea islets that both Tokyo and Beijing claim, sparking anti-Japanese protests across China.

The disputed group of islands, called Senkaku in Japan and Diaoyu in China, are located near rich fishing grounds and potentially huge oil and gas reserves. Taiwan also asserts its sovereignty over the islets.

Japan is scheduled to host the International Monetary Fund and World Bank annual meetings for the first time in nearly half a century. About 20,000 people are expected to attend the event, making it one of the world’s largest international conferences.

The brief Xinhua report said Yi Gang, vice head of the People’s Bank of China, and Vice Finance Minister Zhu Guangyao, will “lead a delegation to the meeting”.

The report did not mention the more senior Zhou and Xie and did not make it clear whether both officials will still be attending the meetings. Zhou is scheduled to speak at the IMF meeting and at a meeting on the sidelines later this week.

A receptionist at the hotel in Tokyo, where Zhou is scheduled to stay, told Reuters earlier today that Zhou has a reservation.

The Xinhua report comes a day after the agency said that China’s state-owned banks will not attend the meetings in Tokyo.

China has sent its patrol ships into what Japan considers its territorial waters near the disputed islands in recent weeks, prompting Japan to lodge protests against China.

Reuters
 
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About chankaiyee2

Author of the book "Tiananmen's Tremendous Achievements" about how with the help of Tiananmen Protests, talented scholars with moral integrity seized power in the Party and state and brought prosperity to China. The second edition of the book will be published within a few days to mark the 25th anniversary of Tiananmen Protests All the parts in the first edition remain in the second edition with a few changes due to information available later and better understanding. There are also some changes for improvements of style. The new parts are Chapters 12-19 on events in China after the first edition was published: The fierce power struggle for succession between reformists and conservatives; Xi Jinping winning all elders’ support during his mysterious disappearance for 2 weeks in early September, 2012; and Xi Jinping Cyclone. Chan Kai Yee's new book: SPACE ERA STRATEGY: The Way China Beats The US An eye-opening book that tells the truth how the US is losing to China. The US is losing as it adopts the outdated strategy of Air-Sea Battle while China adopts the space era strategy to pursue integrated space and air capabilities: It is losing due to its diplomacy that has given rise to Russian-Chinese alliance. US outdated strategy has enabled China to catch up and surpass the US in key weapons: Hypersonic weapons (HGV) that Pentagon regards as the weapon that will dominate the world in the future. Aerospaceplane in China’s development of space-air bomber that can engage enemy anywhere in the world within an hour and destroy an entire aircraft carrier battle group within minutes. Anti-satellite (ASAT) weapons, anti-ASAT weapons, stealth aircrafts, drones, AEW&C, etc. The book gives detailed descriptions of China’s weapon development based on information mainly from Chinese sources that the author monitors closely. U.S. Must Not Be Beaten by China! China is not a democracy. Its political system cannot prevent the emergence of a despotic leader or stop such a leader when he begins to bring disasters to people. A few decades ago, Mao Zedong, the worst tyrant in world history did emerge and bring disasters to Chinese people. He wanted to fight a nuclear war to replace capitalism with communism but could not bring nuclear holocaust to world people as China was too weak and poor at that time. If a despot like Mao Zedong emerges when China has surpassed the US in military strength, world people will suffer the misery experienced by Chinese people in Mao era. China surpassing the US in GDP is not something to worry about as China has the heavy burden to satisfy its huge population, but China surpassing the US in military strength will be world people’s greatest concern if China remains an autocracy. US people are of much better quality than Chinese people. What they lack is a wise leader to adopt the correct strategy and diplomacy and the creative ways to use its resources in developing its military capabilities. I hope that with the emergence of a great leader, the US can put an end to its decline and remain number one in the world. China, US, space era strategy, air-sea battle, space-air bomber, arms race, weapon development, chan kai yee

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  1. Pingback: China IMF boycott ‘a sign of things to come’ « China Daily Mail - October 14, 2012

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