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Japan, China, S. Korea finance leaders warn of rising trade protectionism

  (Reuters)
Manila
Fri, May 4, 2018

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Japan, China, S. Korea finance leaders warn of rising trade protectionism Ministers and governors gesture after the 15th ASEAN plus 3 Finance Ministers and Central Bank Governors' meeting in Manila May 3, 2012. China, Japan and South Korea agreed on Thursday to boost cross-investment in government bond markets, worth nearly a combined $15 trillion, in a move that will better prepare the countries to protect their financial markets from external shocks. In photo starting at second row from L-R, Malaysia's Central Bank governor Zeti Akhtar, Myanmar's Finance Minister Hla Tun, South Korea's Finance Minister Jaewan Bahk, South Korea's Central Bank Governor Choong Soo Kim and China's Vice Minister of Finance Li Yong. (Reuters/Romeo Ranoco)

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inance leaders of Japan, China and South Korea on Friday warned of the risks of protectionism and agreed to ensure open and rule-based multilateral trade.

The three countries said geopolitical uncertainty is a source of risk to the global economy, according to a statement issued after their meeting.

The three countries welcomed a declaration between the leaders of North Korea and South Korea to denuclearise the Korean peninsula in a statement after their meeting.

The trilateral meeting was held on the sidelines of the Asian Development Bank's annual meeting in Manila.

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