● “The Trans- Pacific Partenrship deal signed between 12 Pacific Rim nations in Alanta this week is a historic pact…Australian farmers will benefit from Japan’s agreement to cut tariffs on a wide range of agricultural products including wheat, pork, beef and chicken”
Source: Future is in our hands: historic pact will step up Australia’s trade links by Glenda Korporal, The Australian, Wednesday October 7th, 2015, page 29.
● “The Japanese car industry has hailed the (TPP) trade agreement which would phase out the 2.5 per cent US duty on imported cars over 25 years, benefitting companies such as Toyota and Subaru…Japanese carmakers have already shifted production (Vietnam) aggressively, seeking to avoid tariffs, protect themselves from currency fluctuations and shorten supply chains”
Source: Not all Asian firms win with deal, by Yoko Kubota and Eric Pfanner, The Wall Street Journal, The Australian, Thursday 5th October, 2015, page 25.
● “Trade Boost, Forecast increase in real income by 2025
Vietnam 10.25%
Malaysia 5.6%
Japan 2%
New Zealand 2%
Singapore 1.9%
Australia 0.5%
Source: Wall Street Journal”
Source: Pact lures firms to Asia TPP nations, by Jake Maxwell Watts, & Kathy Chu, The Wall Street Journal, The Australian, Friday 9th October, 2015, page 24.
● “(TPP) Japan budged little on rice…(but) agreed to create a new 6000 tonne quota for Australian rice and cut tariffs on a number of rice preparation products. This is significantly less than the 50,000 tonne quota for US rice exports to Japan…Japan is a particularly attractive export market for Australian rice farmers because mills buy premium varieties…”We have been banging on Japan’s door for 20 years (Ian Blight, Griffith rice farmer) each time we try and get in they put up quarantine rules and when we pass the tests they add in more tests”
Source: Rice farmers reckon trade proof will be in the pudding, by Jared Lynch and Julie-Anne Sprague, Australian Financial Review, Wednesday October 7th, 2015, page 1 and 9.
● “For example: Australian cheese is blended with local product when it is sent to Japan at a ratio of 2 - 1.That was expected to be increased to 3.5 - 1 and be tariff free within 11 years, but it will happen immediately once the TPP starts operating”
Source: Rice farmers reckon trade proof will be in the pudding, by Jared Lynch and Julie-Anne Sprague, Australian Financial Review, Wednesday October 7th, 2015, page 9.
● “Japan view of the TPP trade pact - Japanese car and auto=parts makers may be the biggest winners, as they get cheaper access to the US, the industry’s biggest export market. Japan was forced to reduce some of the protections granted to its rice farmers, creating a non-tariff import quota of 1 per cent of its total consumption. Livestock farmers may be harder hit as tariffs on beef will be cut to 9 per cent over 16 years from 38.5 per cent, while pork tariffs will also be slashed”
Source: Winners & Losers from TPP, Australian Financial Review, Bloomberg, Wednesday October 7th, 2015, page 44.
● “Japan is threatened with both labour shortages and an explosion in welfare costs as one of the worlds lowest birth rates and grayest populations is set to slash the workforce by almost half by 2060. Mr. Abe’s new plan seeks to prevent the 127 million population from sliding below 100 million, within half a century by encouraging people to have more children, and implementing measures to ease the burden on workers having to care for elderly relatives…policies to boost the birthrate and expand spending on elderly and child care”
Source: Abe targets Japan population slide, by Isabel Reynolds, Australian Financial Review, Thursday October 8th, 2015, page 18.
● “China’s renminbi has surpassed the Japanese yen to become the world’s fourth- most-used payments currency, despite an unexpected devaluation and concerns about slowing Chinese growth”
Source: Renminbi over takes yen for payments, trails big three, by Gabriel Wildow, Financial Times, Australian Financial review, Thursday October 8th, 2015, page 37.
● “Japanese Nobel Prize Winners 205
“Physics - Takaaki Kajita shared with Arthur McDonald for the discovery of neutrino oscillators, which shows that neutrinos have mass.
Medicine: Satoshi Omura shared with William Campbell and Tu Youyou for their discoveries concerning a novel therapy against infections caused by roundworm parasites”
Source: Wikipedia, accessed October 10th, 2015, www.wikipedia.com
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