Anonymous, on July 9, 2020 commented:
Noting the growing US-China confrontation and as a pathway for Japan, Yukimitsu
Sanada (Professor, Department of Business, Aichi Shukutoku University) [1]
proposed greater trade and investment co-operation between Japan and Australia.
The world economy, including trade supply chains, has been
damaged by the Coronavirus spread. Australia has a huge amount of resources in its
vast land area. Japan should invest in Australia and to increase Australian economic productivityry.
Anonymous thinks it is an interesting idea.
[1] Prime News 08/07/2020 (Fuji TV, Japan) (Professor Yukimitsu Sanada is an expert on East Asian regional economy and international
finance, at Aichi Shukutoku University). Takabumi Suzuooki (or Suzuki?) and Yukimitsu Sanada made an excellent presentation/analysis on the politics of South Korea and international finance in
Japan.
PETE COMMENT
Three useful sources on Japan-Australia trade promotion are:
1. the Australia Japan Business Co-operation Committee (AJBCC) "about" which has a large number of Australian academic, corporate and government members and
its Counterpart Organisation is the "Japan Australia Business Co-operation Committee (JABCC) based in Tokyo. "The list of JABCC member companies is available here.
its Counterpart Organisation is the "Japan Australia Business Co-operation Committee (JABCC) based in Tokyo. "The list of JABCC member companies is available here.
Overview of the JABCC and its activities. " [which takes the reader to the Australia-Japan Economic Commission (website in Japanese BUT right-click mouse to translate into English)]
So the AJBCC and JABCC may now have been effectively renamed the:
2. the Australia-Japan Economic Commission (website in Japanese BUT right-click mouse to translate into English, as Pete did). Its Chairman is Akio Mimura, President of Tosho Nikko.
The 57th Japan-Australia Economic Joint Committee Meeting was held in
Osaka Prefecture from October 7 to 9, 2019:
"In the opening remark, Chairman Mimura addressed the common
theme of the plenary session as "a new partnership for the future"
and new themes such as "Resources and Energy and SDGs". , I want to
create an opportunity to think about the future of Japan and Australia."
"The two-day plenary session will actively exchange views
on the issues and roles that the two countries should tackle under the five
themes such as "infrastructure investment, urban development, urban
concentration," "sessions by next-generation leaders," and
"innovation startups." The we. At each session, the possibility of
new business opportunities was discussed, and it was introduced that concrete
cooperation and partnerships are progressing across industries, regions, and
generations."
The two chairs summarized the conference, "In
addition to the long-standing traditional relationship between Australia and
Japan, we need to strengthen our two countries by building new relationships
for the future."
The next meeting is scheduled for October 18-20, 2020, in
Adelaide, Australia.
and
and
3. the Australian Department of Foreign Affairs and Trade (DFAT) Factsheet on the "Australia-Japan bilateral relationship" including "Strategic partnership" and "Economic engagement"
Anonymous and Pete
3 comments:
Hi Pete
Summary of interesting discussion [1,2] on Hongkong matters is introduced.
Part I
< Hongkong>
(Presenter) Economic prosperity of Hongkong is based on three factors: i) free trade port (=zero tariff on all goods), ii) low corporate tax rate and iii) reliable Hong Kong Dollar (HKD is 100% endorsed by USD and 1USD is fixed to 7.75-7.85HSD). Does it change?
(Suzuoki) No tariff and low corporate tax rate policy will be maintained, but problem is HKD. USA might sell HKD.
(Sanada) As currency is sovereignty of nation, existence of HKD itself is unpleasant for China. China is going to change one country two system, and HKD becomes unreliable in the international society. This definitely results in exchange rate depreciation of HKD. China accepts unreliability of HKD and changes rather intentionally present status of HKD, because China’s base currency is CNY and it is going establish CNY economy against USD. Experts of international finance may say it will take time to establish CNY economy, but, if combination of AIIB (Asian Infrastructure Investment Bank) and (the Belt and Road Initiative) successfully spreads under situation of coronavirus disaster, it might not take time.
(Presenter) Under CNY economy, what should we do?
(Sanada) We have to adopt to ambiguous situation.
(Suzuoki) CNY economy sounds strange, but, there were Ruble and USD blocks in the Cold War. China intends this situation.
(Presenter) There is rumor that leaders of CCP accumulate wealth such as money laundering and profit return through Hongkong as loophole. Is this rumor true? Does this money accumulation change?
(Suzuoki) I do not know whether the rumor is true or not, but, USA believes it is true and tries to bully China. Leaders of CCP insist officially CNT economy, but they think it is difficult. USA does not admit rule violation, which USA have overlooked, any more by China through Hongkong,
(Sanada) USA aims to stop flow of technologies, products and capital to China through Hongkong, but, this is within expectations of China. China can obtain them through Europe, especially Germany.
Part 2
(Presenter) Dispute over semiconductor between USA and China is escalating. USA invited plant of TSMC. Though South Korea is an alliance of USA, it has a strong trade connection with China.
(Suzuoki) USA directly threated Samsung not to sell semiconductor to Huawei [2]. Japan and USA manufacture raw materials such as fluorinated polyimide, photoresist and hydrogen fluoride for 5G semiconductor of Samsung, and photoresist is a key material. Dutch semiconductor company (ASML) stops to supply its product to Huawei by threat of USA. Japan and USA can jointly prohibit to export raw materials to South Korea.
(Sanada) Semiconductor related market share of Huawei is 35% and is surprisingly a bit increasing under current severe sanction. The total share of Huawei and Samsung is nearly 50% and integration of Huawei and Samsung is a serious matter for USA. To prevent this, USA made Taiwan to its side. However, it is not enough because the share of Taiwan is small. Japanese government starts, receiving the intension of USA, to give a subsidy (10 trillion JPN = 9 billion USD) to Fujitsu, Rakuten Mobile and NEC for development of 5G semiconductor. South Korea may be going to China side.
(Presentor) Does Samsung put a distance from Moon Jae-inn administration?
(Sanada) It wants to put a distance, but, cannot. South Korea government might arrest Lee Jae-yong, head of Samsung.
(Suzuoki) Samsung is multinational corporation, but, its HQ is in Seoul and owner family is Korean to whom South Korean law is applied.
(Presentor) Is it a threat by using law?
(Suzuoki) That’s right. Successive South Korean governments have controlled chaebols in this manner. As South Korean government has enormous power, it can do anything. Samsung can not go to USA because owner family and executives are Korean.
(Presenter) How does market think the presidential election?
(Sanada) In common sense, Biden wins because he is 10% advantageous to Trump at this time. In the last election, Hillary Clinton was overwhelmingly advantageous to Trump, but lost. Therefore, market doubts a result public opinion poll. Trump is appreciated in the economy. Market doubts to what extent Biden secures national interests of USA. Trump will criticize a pro-China orientation of Biden, and will point out issues of WHO and Hongkong, and this tactics is effective on the public.
[1] Hongkong strategy by Xi Jinping and future of free trade: thorough analysis by Sanada* and Suzuoki**, PRIME news*** Part 1 https://www.fnn.jp/articles/-/61029
[2]ibid Part 2 https://www.fnn.jp/articles/-/61028)
* Yukimitsu Sanada, Professor of Aichi Shukutoku University, expert of east Asian regional economy and international finance
** Takabumi Suzuoki, Journalist and ex-editor of Nikkei Inc., expert of politics of South Korea.
*** BS Fuji PRIME news, past performers (status at the time): Y. Nakasone (ex-PM), Shinzo Abe (PM), S. Shii (Chairman of Japan Communist Party), Y. Koike (Governor of Tokyo), Y. Yoshihide (Chief Cabinet Secretary), etc.
[3] https://www.donga.com/en/Search/article/all/20200615/2091800/1/U-S-promises-to-protect-S-Korea-against-any-Chinese-retaliatory-action
In resent exclusive interview of the Under Secretary of State by “The Dong-a Ilbo”, he requested South Korea to join EPN (Economic Prosperity Network = anti-China network), and suddenly said “Samsung is a good company.” This was a direct threat to Samsung if you sell semiconductor to Huawei, USA will crush you”( this part was omitted in this article).
Regards
Hi Anonymous
Thanks for your Parts 1 and 2 comments above, of July 16, 2020.
I have published them as an "Anonymous" article of July 17, 2020 at https://gentleseas.blogspot.com/2020/07/hong-kong-china-us-currency.html
Regards
Pete
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