China, Japan should safeguard free trade, Premier Li urges
BEIJING: China and Japan should safeguard free trade and anchor global growth, Chinese Premier Li Keqiang said on Thursday, as Japan’s prime minister arrived in Beijing on a visit against a backdrop of trade friction with the United States.
Shinzo Abe’s three-day visit is expected to carve out new scope for cooperation between Asia’s two biggest economies. It is also expected to promote trust, which has been fragile at times since they restored diplomatic relations in 1972.
“We hope both sides would work hard to promote regional peace, safeguard multilateralism and free trade, and become the axis of stability, growth and momentum for not just Asia but the world,” Li said in a speech at Beijing’s Great Hall of the People.
Abe who arrived hours earlier on his first formal bilateral summit with Chinese leaders in seven years, said their two countries were playing “an indispensable role in the economic development of not just Asia but the world”.
In the past year, China has stepped up its outreach to Japan and others as it locked horns over trade with the United States.
Japan has trade problems of its own with the United States.
While worried about China’s growing naval power, Japan is also keen for closer economic ties with its biggest trading partner, but it must manage that rapprochement without upsetting its key security ally, the US.
Abe, who returned to power in 2012 when Sino-Japanese ties were in tatters due to a feud over East China Sea islands, has met Chinese President Xi Jinping many times since their first chilly conversation in 2014 on the sidelines of a regional summit in Beijing. But his meeting with Xi on Friday will be the first full-scale Sino-Japanese summit since 2011. Flags of both countries lined Changan Avenue, a thoroughfare that cuts through the heart of Beijing near Tiananmen Square.
The neighbours are due to sign about 50 project memorandums of understanding during Abe’s visit, according to a draft document seen by Reuters. Projects range from energy and healthcare to finance and automobiles.
“We would like to push ahead with cooperation in third countries as part of our Belt and Road initiative, and drive bilateral cooperation to the next higher stage,” Li said. But the Belt and Road project has come under fire for saddling poor nations with debt through big projects that are not economically viable. China rejects the criticism.
Japanese defence officials are wary of its military implications, and Tokyo is pushing its Free and Open Pacific Strategy to promote trade and infrastructure in Asia, Africa and the Middle East.