Japan has called on South Korea and China to “act responsibly” on exchange rates in an unusually strong statement ahead of the G20 summit of leading nations in Seoul, expected to be overshadowed by rising tensions over currencies.
The statement by Naoto Kan, Japan’s prime minister, adds to pressure on Seoul as the host of the meeting in November to broker a discussion on currencies despite some countries, including China, pushing to keep the issue low on the agenda.
Mr Kan said efforts by individual nations to depress their currencies had no place in G20 co-operation. “We’d like South Korea and China to act responsibly within common rules,” he said.
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