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Japan and China to trade yen-yuan directly

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http://www.euronews.com/ Asia's two biggest economies, Japan and China, are to start trading their currencies directly from the start of June. Previously they have set exchange rates through relative dollar values. The direct yen-yuan trade in the Tokyo and Shanghai markets is to smooth and cut the cost of trade and financial transactions between them. It is also a small step towards boosting the yuan's role as an international currency. The move was announced by Japanese Finance Minister Jun Azumi. "By conducting transactions without using the third country's currency, it will bring merits of reducing transaction costs and lowering risks involved in settlements at financial institutions," Azumi told reporters after a cabinet meeting. "That will contribute to improve convenience of the both countries' currencies and reinvigorate the Tokyo market," he said. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
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Text Comments (8)
Sultan (6 years ago)
USA is a Poor country and should pay US debt to china,Japan;Saudi arabia and stop printing dollar plz just like germany in WWII.
Webmaster B (6 years ago)
You will get what you deserve commie lover!
Webmaster B (6 years ago)
When the communists are invading your country and taking over your economy, remember your treachery! Call on your Kamikaze wind gods, maybe they help you! Remember Pearl Harbor!
mebeanonymousonytube (6 years ago)
what... hostility's... My My, The USA has been a good neighbor... We rebuilt Japan after the war, we got lots of recycled beer cans back in Import duty free cars ,tools and toys. Hey look at the trade imbalance between us and China (Import duty's???) I think our politicians aught to give Pakistan some more free money (over $22 bill now). FIRE your politician, let's get this stuff straightened out and let the American economy work. Buy American, support it, manage it and be kinder gentler...OK
mayrabel1 (6 years ago)
well it's time to have aother power to regularize the balance, were a sick of usa rule, they are not going to change their currency .
Cicero (6 years ago)
Down goes the Dollar... Sad but true =(
udical (6 years ago)
Wonderful, same like before Pearl Harbor... Seems Japan needs to have it s own memory refreshed...
壹貳 (6 years ago)
less hate in the world is always good.

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