China calls on Japan, US, EU to avoid devaluation

China’s commerce minister appealed on Friday to other major governments to avoid suppressing the value of their currencies to boost exports, warning that could hurt global growth.

Chen Deming was responding to a question at a news conference about the Japanese yen’s weakness but said his appeal also was directed at the United States and Europe.

The yen has fallen by about 20 per cent against the dollar since the middle of last year, prompting concern other governments might respond by driving down their currencies to keep exports competitive.

via Business feed http://www.scmp.com/business/economy/article/1186355/china-calls-japan-us-eu-avoid-devaluation