Japan has made appreciative statements of Europe’s efforts of resolving its three-year old debt crisis, adding a few conciliatory remarks towards China.
Takehiko Nakao, vice finance minister for international affairs and Japan’s top financial diplomat, said that the euro zone has made significant progress in battling the crisis and that Europe needs to keep up the momentum.
Nakao said the euro zone has made a real effort and a lot of progress regarding a stronger governance of the euro system and fiscal consolidation, while noting that “above all, Greece and Spain and other countries are making very serious efforts of reform and fiscal consolidation.”
Of China, Nakao said that he is optimistic despite the fact that the country is heading for the seventh consecutive quarter of slowing growth.
“In the medium-term, China is still a developing country and many people want more things like cars and TV sets so I think that China can achieve high growth more based on domestic demand instead of external demand.”
The Japanese diplomat hopes that the two top Asian economies would continue efforts of economic cooperation despite the recent tensions over a group of islands in the East China Sea.