A deal has now been struck which will allow China and Japan to do deals directly with one-anothers currencies.This means direct trade with the Renminbi and the Japanese yen will allow one-another to bypass using the US dollar as an intermediary.Direct trade in the two currencies is set to begin this coming month.The Peoples Bank of China says the move will help lower currency conversion costs and help promote bilateral trade and investment.For more on this we had a chance to speak with Liu Qian, Deputy Director, China Service with the Economist Intelligence Unit.
