Quote:
Originally Posted by Redrob
By Ambrose Evans-Pritchard
8:31PM BST 18 Sep 2012
A senior advisor to the Chinese government has called for an attack on the Japanese bond market to precipitate a funding crisis and bring the country to its knees, unless Tokyo reverses its decision to nationalise the disputed Senkaku/Diaoyu islands in the East China Sea.
Jin Baisong from the Chinese Academy of International Trade ? a branch of the commerce ministry ? said China should use its power as Japan?s biggest creditor with $230bn (£141bn) of bonds to ?impose sanctions on Japan in the most effective manner? and bring Tokyo?s festering fiscal crisis to a head.
Writing in the Communist Party newspaper China Daily, Mr Jin called on China to invoke the ?security exception? rule under the World Trade Organisation to punish Japan, rejecting arguments that a trade war between the two Pacific giants would be mutually destructive.
Separately, the Hong Kong Economic Journal reported that China is drawing up plans to cut off Japan?s supplies of rare earth metals needed for hi-tech industry.
Link to entire article. |
No one should be surprised. For many Chinese, Nanking might as well have been yesterday because the Japanese never properly made reparations or proper apologies or even really acknowledged what a horror show they put on there.