In recent times, the Asian countries of China and Japan have been facing various issues, both political and otherwise. Under such circumstances, the private sector has played a key role in efforts to rebuild mutual trust between the two countries.
The efforts have been made due to the fact that the political disputes were affecting the economic relations between the two Asian powers. Last year, the diplomatic issue related to the Senkaku islands (which are claimed by both the countries) had created a massive anti-Japanese demonstrations in the Chinese cities. Moreover, in recent years the bilateral ties between the two countries have repeatedly been strained for many years.
However, last year a visible loss was seen due to the bad blood between these neighbors. This was partly due to the slow growth of the Chinese economy. On March 5, 2013, scholars at an event organized by the Japanese Business Federation – the China Japan Friendship Association and the Keizai Koho Centre, spoke about the importance of increased private sector exchanges.
The importance of the private sector has increased due to recent developments that point to a widening gap in the public sentiments between the two countries. Experts have also opined that much of the private sector exchanges with China have so far failed to reach out to the Chinese people at large.