In a rare display of unity, China and Japan have expressed conditional support for an expansion of the International Monetary Fund’s resources to help address Europe’s sovereign debt crisis.
In a meeting in Beijing on Sunday, Wang Qishan, Chinese vice-premier, and Jun Azumi, Japanese finance minister, said they were prepared to support the IMF’s “important role” in combating turmoil in the eurozone.
However, they warned that the eurozone would need to lift the €500bn cap for its bail-out funds if it hoped to persuade non-European Group of 20 nations to increase their funding of the IMF.
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