China key to Japan's recovery

Japanese Prime Minister Shinzo Abe's Yasukuni Shrine visit has dealt a blow to the recovering trade between the world's second and third largest economies. According to the Chinese Ministry of Commerce on Tuesday, China-Japan trade in 2013 reached $312.55 billion, a 5.1 percent year-on-year drop. While China's exports to Japan decreased by 0.9 percent to $150.28 billion, its imports from Japan were $162.28 billion, witnessing a drastic 8.7 percent decrease.

Besides other factors, Abe's hawkish policies have played a big role in the trade decline, which will eventually curb Abe's efforts to revive Japan's economy.

Abe has implemented a bold economic policy, known as "Abenomics", after he was sworn in as the prime minister for the second time in late 2012. Abenomics is believed to have helped the Japanese economy expand at a revised annual rate of 4.1 percent and 3.8 percent in the first and second quarters of 2013. But the growth in the third quarter dropped to a revised rate of 1.1 percent, down from the initial reading of 1.9 percent, creating worries over the effectiveness of Abenomics in sustaining Japan's growth momentum.