The Asian Development Bank (ADB) President Takehiko Nakao speaks during the opening press conference of an ADB annual meeting in Yokohama, near Tokyo, Thursday, May 4, 2017. (AP Photo/Shizuo Kambayashi)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Finance leaders of Japan, China and South Korea agreed to resist all forms of protectionism in a trilateral meeting Friday, taking a stronger stand than G20 major economies against the protectionist policies advocated by U.S. President Donald Trump.In an attempt to reduce the region's vulnerability to dollar swings, Japan also proposed forming bilateral swap arrangements with Southeast Asian nations that would allow it to provide yen funds in times of financial stress.The trilateral meeting was held on the sidelines of the Asian Development Bank's annual gathering in Yokohama, eastern Japan, where China's increasing presence in infrastructure finance threatens to overshadow Japan's economic influence in the area.In a separate meeting, Japan proposed launching bilateral currency swap arrangements of up to 40 billion dollars to Southeast Asian nations that enable Tokyo to provide yen funds to these countries.
FOLLOW THIS ARTICLE