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UAE economy upbeat despite global crisis: Shaikh Mohammad

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Tokyo: The UAE economy has overcome the repercussions of the global financial crisis and achieved growth this year and in 2010, His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, told a Japanese news channel on Sunday. 

Shaikh Mohammad also met with Japanese officials and businessmen, and discussed with them the friendly bilateral relations between both countries and peoples. He discussed the distinguished and historic economic, trading and cultural relations shared between the UAE and Japan. 

Shaikh Mohammad was interviewed by Japanese TV channel 1, where he discussed various topics dealing with the local and global economy, and the historic relations between Japan and the UAE. 

In the interview, Shaikh Mohammad attributed the UAE's growth to the wise and careful policies adopted by the UAE in addressing the aftermath of the global financial crisis. 

He praised the Japanese economy and the steady growth and progress it has achieved in various sectors, especially in terms of advanced industrial boom, and financial and industrial investments that are used to raise the Japanese economy to the maximum levels of growth. 

He pointed out in this context the Japanese economy's capability to be global competitive, and said that because of the creativity and innovations of its people, Japan was able to prove its strength and presence in the global economy field.


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Talks on South China Sea's troubled waters

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The National Daniel Bardsley (Foreign Correspondent)

BEIJING // When the United States and China hold talks in Hawaii today over Asian Pacific security issues, the South China Sea is likely to be top of the agenda.

Recently China has seen its relations with both Vietnam and the Philippines suffer after disputes over sovereignty of a maritime area because of its importance as a shipping lane and potential oil and gas reserves.

Although China insists the South China Sea is its own, Taiwan, Malaysia and Brunei, as well as Vietnam and the Philippines, also have claims. As tensions have escalated, there have been anti-China street protests in Vietnam while the US has this week indicated its willingness to help the Philippines modernise its forces. The current flagship of the Philippine navy is a creaking former US frigate from the Second World War.

The US has also reaffirmed a "commitment to the defence of the Philippines", a reference to a mutual defence treaty the US secretary of state, Hillary Clinton, insisted Washington would honour.

The Philippine foreign secretary, Albert del Rosario, has said China was clearly becoming "more aggressive" in its actions in the disputed area.

China has been accused of placing markers in waters the Philippines claims, while in late May Chinese patrol boats allegedly cut cables belonging to a Vietnamese oil-exploration ship.

A further sign of China's apparent growing regional assertiveness was the row last year with Japan over the East China Sea after a Chinese fishing boat collided with two Japanese coastguard vessels near disputed islands. Beijing has also shown its anger at joint US-South Korean naval exercises.

Beijing has warned its South China Sea rivals they are "playing with fire" and has tried to warn off the US from intervening, although Washington has insisted it is in its strategic interests to maintain stability in the area.

Despite the recent sabre-rattling, which has included Philippine forces removing Chinese markers in disputed maritime areas, analysts say military conflict over the South China Sea remains extremely unlikely.

The issue has been "simmering along for a long time", said Joseph Cheng, a professor of political science at City University of Hong Kong, although China is now perceived as being increasingly bold.

"In recent months certainly there's been an escalation, but in the past year or so Asean (Association of Southeast Asian Nations) countries certainly see a more assertive China," he said.

He indicated however that blame for escalating tensions should be shared, saying leaders in Hanoi and Manila were keen to fan nationalist sentiment to divert attention from domestic problems.

While continued posturing is probable, there is only a low likelihood of such actions sparking a conflict, he added.

One way of resolving competing claims has been for a non-binding 2002 agreement between China and Asean countries to be upgraded and given legal status. However, there have been few meetings about the agreement in recent years and analysts have warned it risks becoming irrelevant.

dbardsley@thenational.ae

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China insists the South China Sea is its own, but Taiwan, Malaysia and Brunei, as well as Vietnam and the Philippines, also have claims.

Flood of refugees from water project


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HR assistant - Sharjah

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