45 Years of Oil Beneath China-Japan Dispute Islands

China and Japan sat down for talks and agreed to jointly develop a natural gas field under the East China Sea, defusing a dispute between Asia’s biggest economies over who owns the reserves. That was in 2008. The accord, hailed as a model for cooperation at the time, has yet to be carried out and the countries now face a new territorial dispute, also in the East China Sea. The quarrel over who owns the uninhabited islands called Diaoyu by China and Senkaku by Japan is again linked to a prize beneath the ocean that may hold enough oil to keep China running for 45 years.
Why the U.S. Dollar Bull Market Isn't Over Yet
15:00 - Morgan Stanley Head of Global FX Strategy Hans Redeker discusses the U.S. dollar rally and why he says it will continue. He speaks to Bloomberg's Guy Johnson and Anna Edwards on "Countdown." (Source: Bloomberg)
  • Google Gives Logo a Huge Overhaul
  • What You Need to Know: China, Australia GDP, Oil
  • Iran Committed to Boosting Oil Supply