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© Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Nissan's quarterly profit dives 35% on China sales slump
By YURI KAGEYAMA TOKYO©2024 GPlusMedia Inc.
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Kabukilover
Just last night the pro-LDP NHK gave a report that gushed at how well the Japanese economy is doing. Well, it looks like it is doing as well as when the DPJ was in power, namely ups and downs. This is a remarkable down, and it has to do with politics rather than economics--or you might say it has to do with political economy, if that expression has any meaning these days. This is a boycott of things Japanese by the Chinese and its is significant primarily because there are so many Chinese.
The problem blew up when the Noda government nationalized the Senkaku Islands. It did so, I believe, to preempt Ishihara, who was pushing for Tokyo to buy the islands and make them the prefecture's most distant ward. The situation appears serious enough for the BBC to ask if armed conflict over those miserable goat-populated rocks is possible. I believe that this business has to blow over in some way because in the end trade between Japan and China is more important than whatever riches those rocks are key to, including the goats.
Meanwhile, expect the boycott to continue. The root of this mess is Noda taking Ishihara serious and buying those islands from their lucky private owners. Unfortunately, ultranationalist Abe is exactly the wrong person to fix this mess.
avigator
Wait until after July to see if things change for the better or for the worst.
BurakuminDes
It wouldn't surprise me if Abe now lodges another official protest with the Chinese for not buying enough Nissans. How dare they!
I truly feel for the carmakers of Japan - they produce world-class cars - but are hamstrung by third-world style government, both LDP and DPJ.
humanrights
World class Cars?? What? wouldnt ride one if free. Fighting your economic neighbors is 'Expensive'. Its called 'Consequences'
mrkobayashi
You mean you wouldn't ride one even if you could afford it.
nath
Do the Chinese even make a car? They will just buy Hyundai and Kia anyway.. maybe Nissan should sell the electric cars in Japan.. and cab drivers dont waste gas sleeping with the cabs parking on sidestreets.