Japan, India come together
Japan's Prime Minister Shinzo Abe is visiting India with 200 Japanese executives in tow. The motivation behind the high-profile visit: Both countries are looking for economic allies as they warily eye China's rise. Steve Henn explains.
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Doug Krizner: Japan's Prime Minister is leading a delegation of 200 Japanese executives this morning. They're in Indian and their goal is to jump start economic relations between two of Asia's largest economies. Steve Henn reports.
Steve Henn: India's economic relationship with Japan is oddly tepid. Trade between the two countries totaled less than $7 billion last year.
Japan's direct foreign investment in India is miniscule and actually fell from 1997 through 2004. But a China's growth is pushing both countries to rethink their economic relationship.
Richard Samuels: It is the 850-pound gorilla.
Richard Samuels political science professor at MIT and author of a new book called "Securing Japan." He says both India and Japan are interested in creating an economic and political counterweight to China.
Samuels: There are great opportunities the two economies are complementary.
India offers low cost manufacturing, access to new markets and a relatively cheap, highly-educated workforce.
Japan has energy efficient technologies India needs and, most importantly, money to invest.
In Washington, I'm Steve Henn for Marketplace.
