Japan to rethink aid for booming China

Japan will review and possibly cut financial aid to China, in light of Beijing’s growing economic power, the nation’s foreign ministry said Friday.

"With China overtaking Japan in terms of gross domestic product, it is completely inconceivable for Japan, which has been outranked, to increase its ODA (official development assistance)," said Japan’s foreign minister, Seiji Maehara, on the floor of the parliament Friday.

Last year, China overtook Japan as the world’s second largest economy.

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