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Significance
Competition between Japanese and Chinese companies in the global market is increasing, but their bilateral trade reveals that the division of labour and economic interdependence between the two countries is deepening. Tokyo and Beijing have also become the two largest economies speaking out for global free trade -- albeit on their own terms -- amid Washington's turn to protectionism under President Donald Trump.
Impacts
Intra-industry trade will deepen.
The share of high value-added items in trade in both directions will increase.
Quality and product differentiation will become more important to exporters’ competitiveness on both sides.
Keywords:
China,
Japan,
AP,
United States,
CHINA/JAPAN,
economy,
international relations,
foreign policy,
foreign trade,
summit,
technology,
industry,
foreign investment,
policy,
automobile,
consumer,
electronics,
food
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2018
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