The question is why countries have no choice but to join a currency devaluation race -- each country’s economy is faltering and they want to boost their economy with exports.
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Vice Finance Minister Mitsuru Sakurai. Japan has said that it won’t weaken the yen to become more competitive with other countries in trade and any currency intervention would be aimed at restraining excessive moves. (Bloomberg)
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kyoken
Of which "countries" is Sakurai san talking beside China and the US?
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