The new Japanese ambassador to China owns a restaurant.

 

    Dan Yu's business mindset and approach, which many diplomats and politicians do not possess, may give new impetus to future Sino-Japanese interactions

Reporter Guo Yina

　existsinoMany people are familiar with a restaurant chain called "Yoshinoya", which after July 2010, will be merged with "Yoshinoya".Sino-Japanese relationslinked in some way because its one-time boss, Uichiro Niwa, an advisor to ITOCHU Corporation, will be Japan's next ambassador to China.

　ITOCHU Corporation's investments in China include textiles, electronics, food, logistics and other fields, Yoshinoya, Hwatang and so on are its subsidiaries.On June 15, the Japanese government announced that 71-year-old Tanba Yuichiro will be appointed as the new ambassador to China. Tanba will go to China in July at the earliest, he also became the normalization of diplomatic relations between China and Japan, the first civil person to serve as ambassador to China.

    In a previous interview with Japan's Sankei Shimbun, Tambu said, "Japan can't go on without good relations with China. I hope to do my best to conclude a China-Japan free trade agreement."

 

 

Okada wants to stimulate the diplomatic community

    At a press conference on the 15th, Foreign Minister Okada explained the rationale for choosing Tambu. "I have been thinking about stepping outside the narrow confines of diplomats and choosing the right candidate in a broader space. This will bring excitement to the diplomatic community and help enliven the overall atmosphere. Tambu has left behind a lot of convincing achievements as an operator. And with a good understanding of China, I think he is up to the task."
    A Japanese counterpart familiar with the inside story of the selection told reporters that the appointment was mainly decided by Okada. Since the ruling party in September last year, the DPJ has pushed for political reform, that is, from "bureaucratic dominance" to "political dominance". As a part of the reform of the Ministry of Foreign Affairs, ambassadors abroad 20% or more candidates will be used in the private sector.
    Okada took office as Foreign Minister just as the term of the current Ambassador to China, Yuji Miyamoto, was coming to an end. Okada then came up with the idea of hiring a private citizen as ambassador to China. According to informed sources, at that time, in addition to Tambu, Japanese economic powerhouses such as Fujio Mitarai, chairman of Canon, and Yotaro Kobayashi, a senior advisor at Fuji Xerox, were among the favorites to be recruited.
    Tambu's personal ideology is closer to that of the DPJ. As a student, he was a member of the Student Movement Against the Japan-U.S. Security Treaty, which is similar to the experience of many current DPJ executives. Moreover, Tambu has also advocated against bureaucratic politics, and he once said, "Today's Japanese administration has not really understood what reform is. Those politicians and bureaucrats also do not have a clear blueprint for the country's future development."
    The Itochu Corporation, for which Tambu works, is not part of the Zaibatsu family, but is a purely private company, which is in line with the DPJ's shift in thinking from the "government" to the "people". "Compared to those trading companies that are conglomerates, ITOCHU is like a private samurai group." Tambu once said.
    "One of the major shareholders of Foreign Minister Katsuya Okada's family business, Aeon, is Mitsubishi, and in order to avoid suspicion, a big zaibatsu company like Mitsubishi was not chosen." Okamoto, who is familiar with Japan's economic sector, told reporters.

 

 

There is a lot of opposition in Japan

    "It's the special of specials! I was a little surprised. Being an ambassador of a country comes with all sorts of powers. I hope he can fulfill the principle of neutrality and impartiality." Hiroshi Yonekura, chairman of the Keidanren, Japan's largest economic organization, told the media on the 7th.
    The Keidanren has always had a close relationship with the LDP. When the DPJ came to power, it intended to have a good relationship with the Keidanren. However, it is very wary of the DPJ's policies on environmental protection and the total ban on corporate political contributions. The fact that Tambu, who was appointed as the ambassador this time, is not from the top of the Keidanren is also a source of dissatisfaction for the Keidanren.
    "Considering that Dan Yu is from Itochu, in the future, big Japanese companies in China such as Mitsui and Mitsubishi will no longer proactively provide information to the embassy, right? Because although Dan Yu is nominally detached from Itochu, people don't believe that he can completely tear off his ties with Itochu." A head of the Japan-China Association analyzed.
    Not only the economic community is skeptical, but diplomats are also hesitant about the appointment. The ambassadorship has long been the "preserve" of professional diplomats with a degree in Japanese diplomacy. "Why do we have to use a private citizen as our ambassador to China? I still have this question. Is it possible for an ambassador to the U.S. to be a civilian? Tambu may be quite good personally, but I am worried about whether he can correctly judge and appropriately deal with the more sensitive issues of China, Japan and the U.S., such as the Taiwan issue." Kifumi Asai, former head of the China Division of Japan's Foreign Ministry, told.
    "China-Japan relations are more than simply economic and trade cooperation. China and Japan have yet to launch a comprehensive strategic dialog in the military, diplomatic and political fields. This is where China-Japan relations lose out to China-US relations. It is still unknown whether Ambassador Dan Yu can engage in a comprehensive dialog with China that includes the diplomatic, military and political fields, and have a positive dialogue with China on the Korean Peninsula issue, the territorial issue, and the East Asian Community issue." A number of Japanese diplomatic experts have expressed the same doubts to reporters.
    The appointment of a private citizen is a big blow in terms of morale for many diplomats in the Ministry of Foreign Affairs who have been aiming for ambassadorships for years. "If the Tambu model is successful, it will serve as an example, and in the future the DPJ regime may be bolder in appointing private citizens as ambassadors to important countries. But this is surely something vested interests in the Foreign Ministry do not want to see." An expert from Nippon Television's political department told.
    But this time around, the Foreign Ministry doesn't have the backbone to defy Okada's opinion head-on, either. "On the one hand, the Foreign Ministry's China Section has been involved in frequent scandals over diplomatic incidents in recent years, calling into question the competence of career diplomats. On the other hand, senior officials such as the director of the Foreign Ministry's Asia-Pacific Bureau have been held by the 'American gang', and there is little room for promotion in the China pass." A Japanese journalist said.

 

 

The new ambassador has a samurai spirit.

Despite the many difficulties and questions he faces, the battle-hardened Tambu looks confident. "Japan's bureaucrats are top-notch, and fully utilizing their talents is what politicians and ambassadors need to use their brains for." Tambu once responded to outside concerns in this way.
    As can be seen from the resume of Dan Yu provided to the reporter by ITOCHU, Dan Yu's experience is quite rich. After joining the company, he was first sent to the fields to conduct crop research, and then served as the head of the Oils and Fats Department, the Feed Department and the Grain Department.
    Tambu was decisive and bold in character and attached great importance to the spirit of Bushido. When he became president, the company was burdened with a loss of more than 300 billion yen. Risking the possibility of the company's collapse, he took a bold step to clean up the non-performing assets and told the company's situation without any concealment, which resulted in ITOCHU's credibility being restored and turning the company into a profitable one.
    When he became president, he made a rule for himself that he would only work for a maximum of six years. In order to prevent himself from being detached from the masses, he insisted on taking public transportation to and from work. "If you come to work comfortably every day, you can't understand the feelings of the employees who come to work with an upset stomach. In the long run, people become more and more arrogant and lack common sense, and no one will point it out to you." Dan Yu said.
    From 1968 to 1977, he went to the U.S. branch for nine years and was quite familiar with the U.S. situation. Dan Yu has also visited China many times, assumed the position of advisor to the Beijing Mayor's International Entrepreneurship Advisory Conference, and has had dealings with many Chinese executives. His experience in China and the U.S. has helped him to handle the trilateral relationship between China, Japan and the U.S.. In a conversation with Canon Chairman Mikado, he said, "In the trend of globalization, we can't be content to hide under the U.S. umbrella; times have changed, and it's no longer the case that everything is OK just because we have a good relationship with the U.S."
    In addition to his own work, Mr. Tamba has also served as a financial advisor to the government. Under the Abe and Fukuda cabinets, he served as a private member of the government's Economic and Financial Advisory Council, and for many years he was the chairman of the Committee for the Promotion of Decentralization Reform. It can be said that he has accumulated a certain amount of experience and connections in the political world.
   

 

Public opinion expects new ambassadors to bring new winds    

    The Japanese newspaper Chunichi Shimbun devoted an editorial on June 10 to the appointment of the Chinese ambassador. In the editorial, it was said, "Some people worry that the appointment of a person from the financial sector, who is responsible for pursuing corporate interests, as the ambassador will weaken the bargaining power of Japanese diplomacy. However, if Tambu can apply his experience in managing a company to diplomacy, we don't think it will jeopardize national interests. Future Sino-Japanese relations will require a kind of wisdom that avoids conflicts between national interests, such as the issue of oil and gas field development in the East China Sea, while continuously expanding mutual economic interests. Mutual benefits in the economic sphere can help ease political confrontation. In this sense, can't an ambassador who understands economics play a big role?"
    I still have great expectations for the candidate," Miwa Shimizu, an editorial board member of the Chugoku Shimbun who wrote the editorial, told reporters. China is Japan's largest trading partner. For Japan, China's presence has surpassed that of the U.S. Since 2007, Japan's yen loans to China have come to an end, and the two countries have so far had no new framework for cooperation in the economic field. And China and Japan are quite rich in private funds. As a business leader, Dan Yu's strong point is that he is familiar with how to raise and utilize private funds. And these business ideas and maneuvers are not available to many diplomats and politicians."
    Of course, ambassadors can't play their role to the fullest without the support of their aides. "For this appointment, it is not only important to look at the face of the ambassador, but also pay attention to the other people accompanying the ambassador to China for his appointment." A diplomat reminded reporters. Dan Yu is not proficient in Chinese, so this time it is likely to send Chinese fluent Foreign Ministry China Division Chief aided by Katsu Okada as Dan Yu's accompanying interpreter. In addition, the choice of the chief minister will also be quite careful. "The chief must be able to make up for Tambu's weakness of inexperience in politics, military and diplomacy. In the event of a dispute between China and Japan, the minister must be able to immediately advise the ambassador." Sources close to the matter revealed.
   

 

 

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China Becomes Japan's Second Largest Debtor Country Diversifies Foreign Exchange Reserves

 

Reporter Wang Jinyu Yang Zheng Lin Chenyin

 

     After becoming the largest debtor to the U.S., China also became the second largest debtor to Japan.

　　Japan's Ministry of Finance data showed on July 6, China's net purchase of 541 billion yen ($6.2 billion) of Japanese government bonds in the first four months of this year, twice as much as in 2005, becoming the second largest overseas investment in Japanese government bonds after the United Kingdom. Foreign media reports said that this is China's move to increase the diversification of foreign exchange reserves.

　　The Wall Street Journal reported on July 7 that China, the largest debtor to the United States, has recently been increasing its purchases of Japanese government bonds in an effort to diversify its foreign exchange reserves.

　　The report said that as of the end of March, China's foreign exchange reserves reached 2.45 trillion U.S. dollars, and this shows that in recent years, China has increased its holdings of the euro in the hands. And when the euro fell nearly 8% against the dollar during the period, China followed up gradually began to increase holdings of Japanese government bonds.

　　The report pointed out that as the financial crisis hit Europe in the past few months, the euro has become a hot potato, with a certain degree of risk. And since then, the yen into the investment "safe haven", investors have turned to the yen, and a push up the yen.

　　A Japanese government official said, "We don't know why China has significantly increased its holdings of Japanese government bonds, and we're not sure if China will continue to buy them." And he noted that China is still mainly buying short-coupon Japanese government bonds, of which 96% are all under one-year maturity.

　　And the report quoted China's foreign exchange administration as saying that China, as a responsible investor, has always pursued a diversified strategy for foreign exchange investment.

　　And the Financial Times says China's buying of Japanese bonds highlights the possibility that China could eventually help the Japanese government bond market have a more diverse investor base.

　　And UBS economist Woodridge said China's strategy of holding large quantities of U.S. Treasuries is unlikely to see major changes.

Japan Network

 

 

　　Beginning to advocate vigilantism

　　The Nihon Keizai Shimbun, the largest newspaper in the Japanese economic sector, reported on the front page of yesterday's front page the news of China's substantial increase in its purchase of Japanese government bonds this year. The report said that China's increased investment in Japanese government bonds, which are poorly held by foreigners, has the effect of curbing rising interest rates in the financial market and expanding fiscal insecurity.

　　The news of China's substantial increase in its purchase of Japanese government bonds has been greeted with alarmism by many Japanese netizens on the Internet since July 6. The netizens believe that China already holds a huge amount of U.S. government bonds, and now it is purchasing a large amount of Japanese government bonds, which is a sign of malice.

　　A netizen published an article entitled "Is Japan also going to be played by China's hot money?", saying that when Japan's domestic digestion of treasury bonds showed a yellow signal, the one who appeared on the scene was the "savior" that Japan didn't want to look forward to.

　　Eiso Kumano, a researcher and chairman of the Dai-ichi Life Research Institute of Economics, also said it would be dangerous for the Japanese economy if foreign countries were to sell Japanese government bonds for some reason.

The Times is more optimistic, reporting on July 6 that China's increase in its holdings of Japanese government bonds shows that it is more optimistic about Japan's future economic trends.

 

 

　　Expert Opinion

　　Diversity means more initiative

　　Feng Pengcheng, director of the International Investment Research Office of the University of International Business and Economics, told reporters that Japan's treasury bonds, perhaps from the financial returns than the U.S. dollar assets, but as China's realization of the diversification of foreign reserves as an important means of holding a certain amount of Japanese yen assets is still beneficial. Borrowing too much money from a single country is not a good thing, and diversification means increased initiative in dealing with related issues.

　　Feng Pengcheng said, for example, this is like a person to make friends, more friends, their own initiative more. Japanese public opinion's "vigilance theory" is unfounded.