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How China and Japan’s brotherhood of steel, forged by Deng Xiaoping, ultimately corroded
- A decades-long joint venture between Japanese and Chinese steelmakers has ended, symbolising how much the two countries’ roles have changed
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Why Deng Xiaoping is one of China’s most consequential leaders
Why Deng Xiaoping is one of China’s most consequential leaders
Luna Sunin Beijing
Even to the casual observer, the streets of China look very different compared to a few short years ago.
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A passing glance would be enough for most to notice the changes – sleek electric vehicles (EVs) with the marques of Chinese brands dominate the roads where gas-powered and foreign models once reigned supreme.
This is perhaps nowhere more evident than in the status of Japanese models; though they commanded a third of the market at their peak, they now account for fewer than two of every 10 vehicles currently in use.
Symbolic of this seismic shift, the Japanese metals giant Nippon Steel – citing those dwindling sales figures – has announced the end of its 20-year joint venture with Baosteel, the Shanghai-based state steelmaker.
The formal termination of this venture marks the end of a relationship that can be traced back nearly 50 years. It is a parting that reflects China’s quantum leap in manufacturing in the time since their collaboration began, but also the end of a golden era in Sino-Japanese economic ties that began during the tenure of Deng Xiaoping – the architect of China’s economic reforms.
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