Nukaga’s comments, the most direct by any Japanese official so far, reflect similar pressure from all G7 leading industrialised nations on China’s currency policy, the newspaper said. Previously the Japanese finance chief had kept largely quiet on the currency issue, even after the G7 as a group demanded faster yuan appreciation at its October gathering. At last week’s EU-China summit in the Chinese capital, Europe also took a much tougher tack, demanding faster appreciation and citing an unacceptable increase in the trade gap. During the Sino-Japanese economic talks the Chinese side said they would work to increase the currency’s “flexibility,” according to Nukaga. However, as Japan’s largest trade partner, its request for yuan gains may have more to do with concerns over China’s unbalanced economic boom. Global ad spending to grow 6. read more
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