Financial Times writes that when Donald Trump attacked China and Japan for currency manipulation, just ten days before this weekend's summit with prime minister Shinzo Abe, it prompted immediate, vehement and largely accurate denials by East Asia's economic giants...But Japan has not intervened since 2011 and China is currently more concerned with propping up its currency than weakening it for competitive advantage. Even more frustrating for Tokyo and Beijing is that some countries in Asia clearly do manage their currencies. They are not China and Japan. Rather, the obvious culprits are Korea, Taiwan and, in some respects, Singapore. Were the US president to go after Asia's smaller currency manipulators, it could have a drastic effect on regional and global trade, particularly in industries they dominate such as semiconductors and displays. "The only ones I know that have been constantly active in trying to keep their currencies from appreciating are Korea and Taiwan," said Brad Setser, senior fellow at the Council on Foreign Relations, and a Treasury economist during the Obama administration.