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China, not U.S., now Japan's largest trading partner

China, not U.S., now Japan's largest trading partner
By WORLD PEACE HERALD
Published April 21, 2005

WASHINGTON -- China has replaced the United States as Japan's largest trading partner, according to an official Japanese government report published Thursday.

Two way trade between the two Asian giants during the Japanese government's fiscal year ending March 31 was more than 22.7 trillion yen ($212.5 billion), according to the government's statistics quoted in an article published in the online edition of Asahi Shimbun. The figures included Japanese trade with Hong Kong, the report said.

Japanese exports to China grew 16.1 percent during the year, and consisted mainly of steel and raw materials for the manufacture of plastics. Japan's imports from China grew by 17.9 percent over the previous year.

China is the world's third largest trading country, according to the World Trade Organization.


LINK: http://www.wpherald.com/Business/storyview.php?StoryID=20050421-041825-9528r