Why would the Group of Seven, particularly the United States, want China and Japan to let their currencies float? (Hint:You need not have read the article to figure this out. What did these countries, particularly the United States, have to gain if the yuan and the yen grew stronger?)

I Flexible Versus Fixed Exchange Rates In September 2003, the Wall Street Journal reported that the Group of Seven’s finance ministers and central bank governors released the following statement: “We emphasize that more flexibility in exchange rates is desirable for major countries or economic areas to promote smooth and widespread adjustments in the international financial system, based on market mechanisms.”
At the time, Japan and China were frequently intervening in the currency market to keep their currencies from gaining too much strength against the dollar. These Asian countries preferred to keep their currency weak to promote their export industries.