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.
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

China Investigates Former Powerful Security Chief

Former security chief and member of Politburo Standing Committee, Zhou Yongkang, under investigation for suspected 'serious disciplinary violation' More

India, US Look to Reset Ties During Kerry Visit

This week's talks will be first high level interaction between two countries since Prime Minister Narendra Modi took charge More

Video Young African Leadership Program Renamed to Honor Mandela

YALI program, launched by President Obama in 2010, aims to build skills in business, entrepreneurship, public management and civic leadership 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.
Vietnamese Staging Chinese Product Boycott After Oil Rig Spati
X
Reasey Poch
July 28, 2014 7:18 PM
China recently pulled an oil rig from an area of the disputed South China Sea that Vietnam also claims. Despite the action, the incident has had a lingering effect on consumers in Vietnam. VOA's Reasey Poch reports from Hanoi on an effort to boycott Chinese products.
Video

Video Vietnamese Staging Chinese Product Boycott After Oil Rig Spat

China recently pulled an oil rig from an area of the disputed South China Sea that Vietnam also claims. Despite the action, the incident has had a lingering effect on consumers in Vietnam. VOA's Reasey Poch reports from Hanoi on an effort to boycott Chinese products.
Video

Video ESA Spacecraft to Land on a Comet

After a long flight through deep space, a European Space Agency probe is finally approaching its target -- a comet millions of kilometers away from earth. Scientists say the mission may lead to some startling discoveries about the origins of the water on earth. VOA’s George Putic has more.
Video

Video Young Africans Arrive in US for Leadership Program

President Barack Obama's Young African Leadership Initiative has brought hundreds of young Africans to the United States for a six-week program aimed at building their knowledge and skills in fields such as public administration and business. Out of the 50,000 young Africans who applied for the program, just one percent was accepted. VOA's Laurel Bowman caught up with some of those who made the cut and has this report.
Video

Video In Honduras, Amnesty Rumors Fuel US Migration Surges

False rumors in Central America are fueling the current surge of undocumented young people being apprehended at the U.S. border. The inaccurate claims suggest the U.S. will give amnesty to young migrants from the region. As VOA's Brian Padden reports from Honduras, these rumors trace back to President Obama's 2012 executive order to halt deportations for some young undocumented immigrants already living in the United States.
Video

Video Students in Business for Themselves

They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Astronauts Train in Underwater Lab

In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.

AppleAndroid