"In emerging economies with large and growing current account surpluses, especially China, it is desirable that their effectiveexchangerates move so that necessary adjustments can occur, " the finance chiefs said.
Thus the price of a Big Mac, a good that is (somewhat) identical across countries, would be an effective barometer of what exchangerates between countries should look like.
The tax cuts he wants in exchange hinge on a sharp reduction in the effective tax rates paid by Japanese corporations, along with cuts in the inheritance, gift and property taxes that combine to distort the property market.