Japan’s finance minister warns China on yuan depreciation

Japanese Finance Minister Taro Aso on Friday lashed out at China by saying that if the recent yuan devaluation is the beginning of frequent currency manipulation then Tokyo is going to have to take action.

If this move was an effort by Beijing to make its currency system a market-based one, then Japan welcomed the change, Aso said. However, he warned China that Japan would be watching closely to make sure this move wasn’t just a way to give its exports a competitive advantage. Continue reading