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Diplomatic issues, i.e. the textbook discussion, the Yasukuni debate, and the Senkaku/Diaoyu Islands dispute cause political shocks to Japan-China relations, but economic exchange is maintained. Franziska Schultz discusses political shocks within bilateral relations, analyzing shocks in 2005, 2010 and 2012 causing economic spillovers, such as boycotts, property damage and decreasing numbers of Chinese tourists to Japan. The correlation of monthly trade data with political conflict values (2005-2014) created by the author is analyzed with a vector autoregression (VAR) model. A qualitative content analysis of reports by the Japan-China Economic Association (1981-2015) according to Früh (2011) evaluates whether spillovers play a role for Japanese economic actors involved in China business.
We study the impact of nationalism and interstate frictions on international economic relations by analyzing market reaction to adverse shocks to Sino-Japanese relations in 2005 and 2010. Japanese companies with high China exposure suffer relative declines during each event window; a symmetric effect is observed for Chinese companies with high Japanese exposure. The effect on Japanese companies is more pronounced for those operating in industries dominated by Chinese state-owned enterprises, while firms with high Chinese employment experience lower declines. These results emphasize the role of countries' economic and political institutions in mediating the impact of interstate frictions on firm-level outcomes.
We study the impact of cultural aversion on international economic relations by analyzing market reaction to two major adverse shocks to Sino-Japanese relations in 2005 and 2010. Japanese companies with high China exposure decline disproportionately during each event window; Chinese companies with high Japanese exports similarly suffer relative declines. The effect on Japanese companies is concentrated in industries dominated by Chinese state-owned enterprises, where there is greater incentive and ability to intervene, while the negative impact on Chinese firms is primarily for consumer-focused companies. Our results suggest an important impact of cultural frictions on economic relations, and highlight that institutional context is important for understanding the mechanisms underlying this effect.
The first book-length study to examine the re-writing of school textbooks by the Japanese Education Ministry in an attempt to play down atrocities in China during World War II. The famous textbook crisis in 1982 was at the centre of a diplomatic storm extending through the 1980s as Sino-Japanese relations were beset by a series of political controversies. This fascinating account of the period reveals that Chinese and Japanese policy-makers were more concerned with changes taking place in international and domestic politics than with adopting a correct view of history.
Sino-Japanese relations are crucial for the entire East Asian region and beyond. With both countries among the five biggest economies in the world, and being highly interdependent, the bilateral relationship is of key importance not only for economic cooperation and prosperity in the region but in a larger global perspective. Moreover, Sino-Japanese political and military relations are central to the regional security of Northeast Asia. Any deterioration in relations has the potential to generate conflicts with far-reaching consequences. Accordingly, conflict prevention and conflict management in Sino-Japanese relations are of vital concern to the international community. In the past decade, however, the Sino-Japanese relationship has been increasingly marked by political strife and tension. While this has not escalated into military conflict and in spite of changes with the emergence of a new leader, Yasuo Fukuda, in Japan and a political reshuffle at the 17th Party Congress of the Chinese Communist Party in 2007, future developments are difficult to predict. Historical grievances and differing interpretations thereof play a large role in sustaining political tensions, which are reinforced by mutually negative perceptions at a grassroots level and a noticeable lack of trust. Japan’s occupation of parts of China in the first half of the 20th century and according to Chinese a failure by Japan to issue an apology remain a key obstacle to any improvement in relations. Tensions over contemporary issues have strong historical linkages and it is clear that problematic political relations have sub-optimized the economic potential between the two countries as well as heightened suspicions of each other’s military ambitions. More positively, business communities in both China and Japan have been pro-active in advocating improved cooperation and also a large majority of the ruling elite are eager to improve relations. Given the complex history and current power relations between the two countries, cultivating such will by no means be an easy task. Nevertheless, the authors hope that this book will help further understanding of Sino-Japanese relations and so contribute towards the development of mutually advantageous relations – a necessity in today’s world order.