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On his first stop today in Tokyo, Mr. Snow took veiled aim at both the weak yen and the weak yuan.
The E.U. had pushed China to rethink its currency position at the summit meeting, saying the weak yuan, combined with the weak dollar, was hurting European exports.
Some manufacturers from Asia benefit from a weak yuan because China is the final assembler of high value-added products made elsewhere and ultimately destined for the West.
LONDON — Emerging economies, smarting under rampant currency appreciation that is hindering their efforts to export their way to economic recovery, are finally daring to join a chorus of protests against China's weak yuan.
"There is a competitive disadvantage in having a strong euro versus a relatively weak yen, a deliberately weak yuan and a low dollar," she says ahead of a G-7 meeting tomorrow.
The Russian finance minister, Aleksei L. Kudrin, stopped short of criticizing China at the G-20, but, in a swipe at the weak yuan, he said it was wrong to "create hothouse conditions for some companies by artificially controlling the exchange rate".
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A weaker yuan cheapens Chinese exports, shoring up its manufacturing sector.
The weaker yuan also impacted sales of its luxury Lincoln brand.
A somewhat weaker yuan would pose few dangers and bring a number of benefits.
A weaker yuan would reduce the price of Chinese goods, pushing down already-low US inflation of 1.3%.
One possibility is that a weaker yuan is, paradoxically, part of the Chinese government's strategy for encouraging its wider international use.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com