China, Japan and South Korea are discussing a trilateral currency swap
On October 22, the Hong Kong South China Morning Post cited an informed source, saying that China is negotiating with Japan and South Korea on the possibility of establishing a trilateral currency swap mechanism to strengthen the regional financial safety net, and to deepen economic cooperation against the backdrop of the trade war initiated by US President Trump. The report emphasized that Japan and South Korea are both US ally countries.
The source said that Governor of the People's Bank of China, Pan Gongsheng, discussed this issue with Governor of the Bank of Japan, Haruhiko Kuroda, and Governor of the Bank of Korea, Lee Ju-yeol, during the International Monetary Fund and World Bank Autumn Meetings in Washington, US last week.
"They have been pushing for trilateral cooperation, and the negotiations have been ongoing for some time," said the anonymous source. The South China Morning Post reported that the People's Bank of China has not responded to the request for comment yet.
According to the website of the People's Bank of China, the 14th Meeting of the Governors of the Central Banks of China, Japan and South Korea was held in Washington on October 15. The meeting was chaired by Governor of the Bank of Japan, Haruhiko Kuroda, and attended by Governor of the People's Bank of China, Pan Gongsheng, and Governor of the Bank of Korea, Lee Ju-yeol. At the meeting, they exchanged opinions on recent economic and financial situations and other topics. The 15th Meeting of the Governors of the Central Banks of China, Japan and South Korea will be hosted by the Bank of Korea in 2026.
Original: www.toutiao.com/article/1846642018592843/
Statement: This article represents the views of the author himself.