While a nuclear expert in China has said that Japan's nuclear crisis will have no impact on China, Morgan Stanley begs to differ. Here's what the global financial services firm had to say on some of the numbers on the connection between the Japanese and Chinese economies:
In terms of trade by destinations / origins: In 2010, Japan remained one of China's most important trade partners, accounting for about 8% of China's total exports, while China sourced 13% of its imports from Japan. Incrementally, however, Japan contributed only 1.9ppt to the 31.3% YoY growth in China's total exports, and 4.6ppt to the 38.9% YoY growth in total imports.
In terms of trade by products: In 2010, the majority of trade between China and Japan was in mineral, vegetable & animal products, machinery as well as base metals. China ran the biggest trade surplus with Japan in textiles, and the biggest trade deficit in machinery and electrical equipment. Trade in machinery and electrical equipment was the main driver of growth in both exports to and imports from Japan.
In terms of trade by major categories of commodities: In 2010, 36% of China's coal exports and 21% of crude petroleum oil exports went to Japan; 44% of China's steel product imports and 27% of aluminum product imports were from Japan.
Not everyone famous is dumb! Here are some 18 celebrities who so happen to have a very high IQ. The general average is between 90 and 109, but these celebrities, are not your average ordinary kind of celebrities. Check it out below: Read more
If you need any more proof that The Foo Fighters are the best rock band in the entire planet, then here's a video proving they actually are! Dave Grohl posted a video telling fans that he's seen the video, and they're coming. Read more
Are engagement videos all candid or have they been carefully edited to bring out the super romance element in it? Here's a hilarious short, imagining just what goes on to make one of those 'engagement videos' we've all seen before. Maybe, just maybe, there's some truth in this! Read more