BBC News is reporting on how the world's leading economies have begun a summit in South Korea, with currency policies set to dominate the agenda. The summit, commonly known as the G20, is composed of 19 world economies plus the European Union. It was formed in 1999 and has taken the lead in global economic forums since the financial crisis of 2008. However, at this years meeting there is fear that a disagreement will occur between the US and China over currency wars and trade imbalances. President Obama particularly wants to discuss how to balance a sustainable growth in economics internationally. According to reports, President Obama will also hold individual talks with his two biggest economic policy critics: Chinese President Hu Jintao and German Chancellor Angela Merkel. Also, Treasury Secretary Timothy Geithner says the United States will never manipulate the dollar to gain an advantage or grow the economy.
--Emily Goodfellow.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment