Monday, February 09, 2004

China boom supports Japanese economy

Japan's economy keeps on recovering despite the decline of business with the US, because China has replaced the US as the most important buyer of Chinese goods, AP reports.
Steel is the main example in this article, but other goods also food to satisfy Chinese demand. China takes up 12 percent of Japan's export, double the rate of 2000. While Japanese firms hope the upsurge will last at least until the Olympic Games in Beijing in 2008 and the Worldexpo in Shanghai in 2010, not everybody is confident China's boom will be a sustainable force.

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