By Zhao Wei, Sina English
Some foreign trade experts said during an interview with Japanese media that Japan’s economy relies much more on China’s economy than China relies on Japan.
China is the leading market for Japan’s manufacturing industry that supports the Japan’s economy, meanwhile, China is also an important import market for Japanese goods.
The profits of most of the Japanese companies come from the overseas market, in which the Chinese market is the main and regular source. Many industries in Japan, including electronic industry, machinery industry, automotive industry, appliance industry, and retail industry, make their profit margin mainly from China.
On the contrary, China’s main export market is not Japan, but the U.S., followed by the Europe. The proportion of the Japanese market has been declining in recent years.
The trade experts believe that if China reduce import quotas from Japan, it could expand the import from other countries, while if Japan reduce its export to China, it is hard to find another like market to fill in.
The experts suggested that Japan’s consumers should recognize the importance of the Chinese market, and the growth of Japan’s companies and its people’s need cannot be cut off from the Chinese market.
If China slaps economic sanctions upon Japan, Japan’s enterprises will suffer a great loss. For one thing, its unemployment rate will rise and the economy will possibly collapse, thus the ruling of Noda Yoshihiko and its Japanese Democratic Party could be toppled.