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China, Japan, and the United States: Political economy issues

Together, China, Japan and the United States constitute about 40% of global output. As the Chinese economy continues to experience growth in the transition toward marketization, assuredly, it will assume an even higher profile in the global economy. Relations among the three economies have, historically, been fraught with tension, being colored by cold war tensions, uneasiness with China's growing economic power, competition for political and economic dominance over the rest of Asia, human rights issues, and unresolved hostility resulting from the Sino-Japanese War. Since September 11th, however , the relations among the U.S., Japan and China have been improving. China was quick to support the U.S. following the attack (with some reservations), as was Japan. China also accepted the apology made by Japanese Prime Minister Koizumi for his country's aggression during World War II upon the latter's visit to Beijing in October 2001. There appears to be a unique opportunity to forge a new level of cooperation among the three economies, both economically and politically, despite fundamental differences among their economies and political philosophies. On 12 December 2002, the APEC Study Center and the Center on Japanese Economy and Business of Columbia University sponsored a symposium exploring new developments in the political and economic relations of China, Japan and the United States. Joining Columbia University Faculty were Professors Ross Garnaut and Takatoshi Ito, both possessing extraordinary insight and expertise in Asia-Pacific relations. An excerpt of the symposium is presented below, accompanied by highlights of exchanges with the audience.

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Academic Units
Center on Japanese Economy and Business
Publisher
Center on Japanese Economy and Business, Columbia Business School
Published Here
April 28, 2011
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