China, Japan, South Korea Free Trade Talks Suspended

The maritime sovereignty dispute between China and Japan has derailed discussions about creating a free-trade zone involving the world’s second and third largest economies plus South Korea. Chen Yulu, a People’s Bank of China advisor, broke the news at a meeting of central bankers from the three countries. He said he hoped the suspension of the free trade discussions was temporary. “It will be a big loss for Asia if the process is terminated,” he told the Reuters news agency.  Leaders of the three countries have been discussing creating a free-trade zone for some years, certainly through several cycles of ebbing and flowing relations between Tokyo and Beijing. This Bystander expects the free trade talks to survive this latest nadir.

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