the first time since WWII, Japan''s biggest trade partner
is no longer the US.
the year ended on 31 March, 2007, China has overtaken
the US as Japan''s largest trading partner with tradeing
volumes reaching ¥25.43 trillion yen or $215 billion.
Japan''s trade with the US in the same period was ¥25.16
to the Japanese finance ministry, Japan, whose trade
surplus is now at a record high, widened to 74 per cent
from a year earlier at ¥1.633 trillion last month,
exceeding the expectations of ¥1.36 trillion.
Japanese finance ministry attributes the trade between
the two Asian giants to several Japanese firms shifting
their manufacturing work to China, which has lower labour
costs, and also offers them a fast-growing market.
weaker yen and exports to China have also boosted Japan''s