News / Asia

China's Central Banker Pulls Out of IMF Meeting

Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting in Tokyo, October 10, 2012.Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting in Tokyo, October 10, 2012.
x
Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting in Tokyo, October 10, 2012.
Visitors are silhouetted against the logo of the International Monetary Fund at the main venue for the IMF and World Bank annual meeting in Tokyo, October 10, 2012.
TEXT SIZE - +
VOA News
China has decided not to send its most senior finance officials to this week's meeting of the International Monetary Fund in Tokyo, as a territorial dispute continues to strain diplomatic relations between the two Asian powers.

The IMF said Wednesday that People's Bank of China Governor Zhou Xiaochuan is canceling his appearance due to what Beijing called a scheduling conflict. Zhou was to deliver a key lecture at the conference, but will now send his deputy instead.

China's state media say the Chinese delegation will be led by Yi Gang, vice governor of the People's Bank of China, and Zhu Guangyao, vice minister of finance. It also says four major Chinese banks have pulled out of the annual IMF-World Bank meetings.

Japan's Chief Cabinet Secretary, Osamu Fujimura, expressed disappointment with the pullouts.

"If the financial representatives were to decide not to attend the important meeting to be held in Tokyo, I find it regrettable," he said. "However, the bilateral economic relationship is valuable so it is Japan's intention to communicate effectively with China."

The cancellations come amid a worsening feud over an uninhabited archipelago in the East China Sea, which has already threatened important trade ties between Asia's two largest economies.

Japan's largest automakers, including Toyota, Honda, and Nissan, said Tuesday that sales of new cars in China plummeted in September after violent anti-Japan protests broke out across the country. The protests followed Japan's decision to purchase some of the disputed islands from their Japanese landowner.

IMF Chief Christine Lagarde last week urged both sides to quickly resolve the dispute, saying the struggling global economy needs both economic powers to be "fully engaged."

China, which has the world's second largest economy, has threatened to impose economic sanctions on Japan over the dispute. Tensions have also been high at sea, with China regularly sending patrol ships near the Japan-controlled islets.

The islands, known as Senkaku in Japan and Diaoyu in China, are surrounded by rich fishing grounds and potential energy deposits.

Japan says its decision to purchase some of the disputed islands was made in order to preserve stability, as Tokyo's nationalist governor had threatened to purchase the islands and build developments on them.

But the move enraged China, which says the islands are an essential part of Chinese territory that was "stolen" by Japan at the end of the 19th century following the China-Japan war.

You May Like

Analysts Warn of Regional Proxy Conflict in Afghanistan

Analysts warn if Kabul’s neighbors do not start to cooperate, competing desires for influence could deteriorate into a bloody proxy war in the country More

Saudi Intelligence Chief Replaced

Bandar bin Sultan came under criticism for supporting al Qaida, prompting King Abdallah to wrest Syria operations away from him in February, handing them to Interior Minister Prince Mohammed bin Nayef More

Poetry Magazine editor Don Share talks what makes a good poem with VOA's David Byrd

What makes a good poem? And is poetry as viable an art form as it once was? To find out, VOA's David Byrd spoke to Don Share, the editor of Poetry Magazine. More

This forum has been closed.
Comment Sorting
Comments
     
by: remie from: canada
October 10, 2012 5:51 PM
Who cares there loss,anyways China manipulate the numbers for there own benefits. China does worst to neighbouring country, they're the biggest "knock off " country and has most spies around the world. Also sneaky,etc.......

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Google Buys Drone Companyi
|| 0:00:00
...
 
🔇
X
George Putic
April 15, 2014
In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
Video

Video Google Buys Drone Company

In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
Video

Video Ray Bonneville Sings the Blues and More on New CD

Singer/songwriter Ray Bonneville has released a new CD called “Easy Gone” with music that reflects his musical and personal journey from French-speaking Canada to his current home in Austin,Texas. The eclectic artist’s fan base extends from Texas to various parts of North America and Europe. VOA’s Greg Flakus reports from Austin.
Video

Video Millions Labor in Pakistan's Informal Economy

The World Bank says that in Pakistan, roughly 70 percent work in the so-called informal sector, a part of the economy that is unregulated and untaxed. VOA's Sharon Behn reports from Islamabad on how the informal sector impact's the Pakistani economy.
Video

Video Passover Celebrates Liberation from Bondage

Jewish people around the world are celebrating Passover, a commemoration of their liberation from slavery in Egypt more than 3,300 years ago. According to scripture, God helped the Jews, led by Moses, escape bondage in Egypt and cross the Red Sea into the desert. Zlatica Hoke reports that the story of the Jewish Exodus resonates with other people trying to escape slave-like conditions.
Video

Video Police Pursue Hate Crime Charges Against Kansas Shooting Suspect

Prosecutors are sifting through the evidence in the wake of Sunday’s shootings in a suburb of Kansas City, Missouri that left three people dead. A suspect in the shootings taken into custody is a white supremacist. As VOA’s Kane Farabaugh reports, he was well-known to law enforcement agencies and human rights groups alike.
Video

Video In Eastern Ukraine, Pro-unity Activists Emerge from Shadows

Amid the pro-Russian uprisings in eastern Ukraine, there is a large body of activists who support Ukrainian unity and reject Russian intervention. Their activities have remained largely underground, but they are preparing to take on their pro-Moscow opponents, as Henry Ridgwell reports from the eastern city of Donetsk.
Video

Video Basket Maker’s Skills Have World Reach

A prestigious craft show in the U.S. capital offers one-of-a-kind creations by more than 120 artists working in a variety of media. As VOA’s Julie Taboh reports from Washington, one artist lucky enough to be selected says sharing her skills with women overseas is just as significant.
Video

Video UN Report Urges Speedier Action to Avoid Climate Disaster

A new United Nations report says the world must switch from fossil fuels to cleaner energy sources to control the effects of climate change. The Intergovernmental Panel on Climate Change released the report (Sunday) following a meeting of scientists and government representatives in Berlin. The comprehensive review follows two recent IPCC reports that detail the certainty of climate change, its impacts and in this most recent report what to do about it. VOA’s Rosanne Skirble has the details.
AppleAndroid