The G20 Summit will discuss WTO reform

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      A senior official from Japan's Ministry of Finance said Wednesday that substantive discussions on trade issues, including reform of the World Trade Organization (WTO), may take place at next week's G20 summit in Osaka.
Earlier this month, G20 financial and economic leaders warned in their communiquy that trade and geopolitical tensions had "intensified" and that they were ready to take further action to address such risks.
Yashi Asakawa, finance officer for international affairs of Japan's Ministry of Finance, said that G20 finance ministers and central bank presidents had discussed the possible impact of trade tensions on the global economy and that more substantive discussions on trade policy would be held at the Leaders'summit in Osaka.
Yashi Asakawa, who is responsible for holding the G20 meeting of financial and economic leaders, also said that the G20 has a consensus that member countries can accept any exchange rate changes caused by ultra-loose monetary policy as long as policy measures are not directed at manipulating exchange rates.
"The Bank of Japan's ultra-loose policy is aimed at fighting deflation, not manipulating the exchange rate. This is widely understood in the G20, "Yashi Asakawa said at a news conference.


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