European and American dissatisfaction with the Japanese currency intervention cited the outbreak of the global terror war currency.

<P> 15 days, six and a half for the first time the Japanese intervention in the foreign exchange market, a ripple, causing resentment in Europe and the United States. .15 to 16, the U.S. House of Representatives held a hearing on the RMB exchange rate, Geithner said the appreciation of the Chinese yuan is too slow, lawmakers have called for China to take action. .In addition, many Asian countries to ensure export competitiveness, but also to intervene in the foreign exchange market to prevent appreciation of their currencies against the U.S. dollar rate is too large. .Analysts are concerned, many countries involved in money-market currencies could trigger the war, in November's G20 meeting in Seoul, Korea summit likely to be among the major economies of the "exchange rate battlefield." .</ P> <P> against the Japanese currency intervention triggered </ P> <P> 15, the Japanese government to ease the sharp appreciation of the phenomenon involved in the yen foreign exchange market, selling about 2 trillion yen buying dollars, Japanese Finance Minister Ye Tian Jiayan .17, reiterated that there will be concerns about the long-term strength of the yen, if necessary, will take decisive action to suppress the strong yen. .Strong involvement of the Japanese government initiatives in foreign exchange markets, the United States and the European Union in protest. .In 2008 after the outbreak of the global financial crisis, major countries have pledged not to expand their exports and deliberately devalue its currency. .But Japan can not stand the yen appreciates sharply, breaking the "promise", giving rise to friction. .</ P> <P> this, the Euro group president, Luxembourg Juncker warned following the 15 "Japanese government intervention in ill conceived", the 16th and said: "not too high against the euro, the yen." United States Congress .The reaction is more intense, the U.S. House Ways and Means Committee Chairman Xisangdelai article said that the U.S. unilateral intervention in currency markets of Japan is deeply troubled, if the U.S. turned a blind eye to Japan's practice, then the pressure on China to revalue its currency .will lose convincing. .</ P> <P> China and the United States to form the United Front </ P> <P> 16 in United States Treasury Secretary Timothy Geithner attended the congressional hearing on the RMB exchange rate RMB appreciation will slow when the blunt and said that in the 11 .month's G20 summit on the exchange rate raised the hope that cooperation among countries to pressure China. ."The New York Times" 17 follow this train of thought on the RMB exchange rate issue editorial, criticized China for manipulating its currency to continue to make their exports competitive. .The editorial said that the strength of a country the United States alone can not succeed encourage China to revalue its currency and the U.S. should not be a way to pass legislation to force China to appreciate, because the legislation will result in a trade war, the whole world to be losers. .To this end, the editorial Weapon for the U.S. government, said the only effective approach is to the U.S. and other major economies like Europe, Japan, India, Brazil and some developing countries formed a united front together to put pressure on China, so China .you want to block immune, after all, China can not become enemies with the world. .</ P> <P> more States to intervene in foreign exchange market intervention </ P> <P> Japan can not tolerate the continued strength of the yen, a core reason is that Japan's economy is heavily dependent on exports, a stronger yen hurt Japan's export competitiveness. .The current weakness in the Japanese economy, if the export again under attack, is undoubtedly worse. .Naoto Kan, Japanese Prime Minister and the Prime Minister after the election on behalf of the Democratic Party to revitalize the economy is the core task of the new government. .So the Japanese government intervention in the foreign exchange market is exactly the time the node re-election in his day after 14. .At the same time, due to the huge foreign exchange reserves in China to promote the diversification in recent months has continued to purchase Japanese government bonds, the Japanese side that this is one of the reasons to promote appreciation of the yen, Japan has pledged to consult with China on this. .However, the conspiracy theorists in Japan that China is in fact this use of the exchange rate of weapons on Japan to promote appreciation of the yen reduces the competitiveness of Japanese products, and damage prospects for economic recovery in Japan. .</ P> <P> not only Japan that, according to the U.S. "The Wall Street Journal" reported that other Asian countries have also intervene in the market recently, but not the Japanese government so obvious. .South Korea, Thailand and Singapore and other countries dependent on exports as great, these countries export to the U.S. and Europe's main competitors are China, the yuan pegged to the dollar, since the announced exchange rate reform in China since June, South Korea, Thailand and Singapore currency .RMB exchange rate against both rose about 3%, adding to their concerns about the competitiveness of their exports. .Asian countries outside China and the region has 2.9 trillion foreign exchange reserves, in order to avoid damage export competitiveness, these countries are also involved in market intervention. .</ P> <P> worried about the outbreak of war in global currency </ P> <P> analysts believe that a country's exchange rate policy for the country's economic development and competitiveness have a great impact, but also about the exchange rate policy in virtually .the transfer of wealth between countries. .Many Asian countries over the past few decades is through a low exchange rate policy to promote exports in order to achieve economic modernization and accumulated wealth. .But if we are to intervene unilaterally intervene in the market, the result may be the expense of others, no one will be the winner. .The thirties of last century during the Great Depression, countries compete to devalue their currencies to promote exports, the final damage to the global economic recovery. .Some people worry, when the currency of war probably will be repeated today, although the scale of the year, would not fall so much, but in fact intervene in the market with the countries, the exchange rate market, a war of no smoke has begun, and the G20 summit in November .will be put on the table. .</ P> <P> In addition, many analysts also believe that the phenomenon of sharp appreciation of the yen from Japan's economic structural problems, is difficult to easily resolve. .This is because the bankruptcy of Lehman Brothers in 2008 triggered the phenomenon of sharp appreciation of the yen because the Japanese economy is not strong, but because of economic weakness in the U.S. and Europe. .Only the U.S. economy improves, a stronger dollar, the yen rise phenomenon will end. .And taking into account the yen market, daily volume of up to 568 billion U.S. dollars, is the world's largest foreign exchange turnover, one of Japan's unilateral intervention in currency markets would be difficult to succeed. .Therefore, the foreign exchange market requires parties to cooperate in taking action. .(Reporter Wang Xingdong Source: Evening Post) </ P>.