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Yen-renminbi currency pact needs extra thrust – opinion
June 04, 2012
The initial scale of renminbi trade in Tokyo will be limited in the near-term unless China rids the restrictions on its capital and financial markets as soon as possible.
While Japan and China have taken a symbolic step towards the internationalisation of the renminbi by announcing the direct trading of their two currencies, the concrete benefits of the deal will be minimal, at least in the short term.
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