Japan, China to hold finance talks amid concerns on protectionism, NKorea

Japan and China will hold their first bilateral financial dialogue in two years on Saturday to discuss the risks to Asia's economic outlook, such as the protectionist policies advocated by US President Donald Trump and tensions On North Korea, officials said.

Chinese Finance Minister Xiao Jie, who missed a trilateral rally with his Japanese and South Korean counterparts on Friday for a national emergency meeting, participated in the bilateral dialogue, seeking to dispel speculation. His absence had diplomatic implications.

Xiao and Japanese Finance Minister Taro Aso will discuss issues ranging from North Korea's nuclear program and missiles to the economic prospects and financial cooperation of the two countries during the dialogue, which will be held on the sidelines of The annual meeting of the Asian Development Bank in Yokohama, East Japan.

The finance officials of the two countries will also hold a series of separate talks, say officials of the Japanese Ministry of Finance.

Relations between Japan and China have been strained on the territorial ranks and occupation by Japan of parts of China in the Second World War, although the leaders have recently sought to repair the ties Through dialogue.

Yet China 's growing presence in infrastructure financing has alarmed some Japanese decision makers, who fear that the new development bank of Beijing, the Asian Investment Bank in China, Infrastructure (AIIB), may obscure the ADB backed by Japan.

Japan and China agree on the need to respect free trade, which is crucial for economies dependent on Asia's trade.

Financial officials from Japan, China and South Korea agreed to resist all forms of protectionism on Friday Trilateral, taking a stronger stance than the G20's major economies against the protectionist policies advocated By Trump.

China has positioned itself as a proponent of free trade in the wake of Trump's appeals to put America's interests first and withdraw from multilateral trade agreements.

Japan has adopted a more accommodating attitude towards Washington's argument that trade should not be free but fair.

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