Fractious G20 set to confront trade imbalances
GYEONGJU, South Korea (AFP) – The United States looked set to win G20 backing Saturday to tackle groaning trade imbalances as the world's biggest industrial nations vowed to avoid tit-for-tat currency devaluations. But after all-night talks among senior officials in South Korea, amid fears of a global “currency war”, a draft G20 text reported by Dow Jones Newswires did not set specific targets on trade for the United States, China and others. In the draft statement, Group of 20 finance ministers would agree to refrain from “competitive” currency devaluations, and aim for “market-determined exchange rates”, an official told Dow Jones. The G20 would…
See the article here:
Fractious G20 set to confront trade imbalances
Posted by
on October 23, 2010. Filed under
News.
You can follow any responses to this entry through the
RSS 2.0.
You can leave a response or trackback to this entry