Japan not ready to exit from stimulus

Japanese Finance Minister Naoto Kan said on Saturday he told China that Japan cannot yet embark on an exit strategy from stimulus measures adopted in the wake of the financial crisis.

Speaking at a news conference after financial dialogue talks in Beijing, Kan said the two sides agreed to work together to ensure recovery from the crisis.

The shared the view that while the global economy is on a firm recovery path uncertainty remains.

Kan added that they did not discuss China’s yuan currency during the financial dialogue.

Earlier, Kan told Chinese Premier Wen Jiabao he expects China to make a wise decision on the issue of the yuan amid international pressure for China to let its currency strengthen.

The regular bilateral talks, the third in a series, are aimed at deepening financial dialogue between Asia’s two economic giants.

Source: Reuters