Peter Alford: Japan depends on China

From the Herald Sun: " The Japanese economy's acute reliance on booming China for forward momentum has been highlighted by China elbowing aside the US to become 's biggest merchandise trading partner for the first time.

Chinese iron ore statistics, released following Beijing's revelation of sizzling December quarter gross domestic product growth of 9.5 per cent, show another facet of the fast-changing balance between Asia's two most important economies."

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