China is in talks with Japan and South Korea – both US allies – about a possible trilateral currency swap to bolster the region’s financial safety net and deepen economic cooperation amid US President Donald Trump’s trade war, according to a source familiar with the issue.
Pan Gongsheng, governor of the People’s Bank of China (PBOC), touched on the issue with his South Korean and Japanese counterparts, Rhee Chang-yong and Kazuo Ueda, on the sidelines of the IMF-World Bank annual meetings in Washington last week, the source said.
