Yellen Meets Japan, South Korea Counterparts in Bid to Boost Economic Ties

-- US Treasury Secretary Janet Yellen took note of worries between her Japanese and South Korean counterparts over sharp declines in their exchange rates , in a joint statement following a debut trilateral finance meeting.

Past agreements among members of the Group of 20 emerging and advanced economies emphasize the principle of allowing markets to determine exchange rates, while leaving the door open to action against excess market volatility. In addition, they reaffirmed the importance of Pacific Island countries, where the US and China have been competing to build influence since the Solomon Islands in 2022 signed a security accord with Beijing — a first for the region — raising concerns about a possible Chinese military base in the neighborhood.

Climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that's not warming, with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, a new study said.

Bloomberg Shunichi Suzuki Exchange Rates Republic Of Korea Foreign Exchange Market Korean Finance Minister Choi Japanese Yen Serious Concerns Statement

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