loosecannon
Senior Member
- May 7, 2007
- 4,888
- 269
- 48
>meaningful, substantive?
>one with teeth?
>a poseurs compromise/save face/MAS gimmick?
>gonna solve the debasement wars, rare earth sanctions, tariff wars that have been beginning to brew?
>is it a sell out by any particular party?
I have no idea, I read earlier it got watered down, then it was suddenly agreed upon. Will it work? Or will China keep the peg anyway?
G-20 powers agree to Geithner currency and trade plan
washingtonpost.com
Anybody getting a Copenhagen Summit head rush?
>one with teeth?
>a poseurs compromise/save face/MAS gimmick?
>gonna solve the debasement wars, rare earth sanctions, tariff wars that have been beginning to brew?
>is it a sell out by any particular party?
I have no idea, I read earlier it got watered down, then it was suddenly agreed upon. Will it work? Or will China keep the peg anyway?
G-20 powers agree to Geithner currency and trade plan
Finance ministers from the world's major nations agreed to a U.S.-brokered plan for easing tensions over exchange rates and world trade patterns, saying that a "fragile and uneven" economic recovery was at risk if top powers pursued conflicting policies or used the value of their currencies to gain an edge for their exports.
Aiming to head off what some have dubbed a developing "currency war," the statement from the finance leaders of the Group of 20 nations was a carefully worded bargain across a range of issues. It put China on the record as seeking to bring down its massive trade surplus and let its exchange rate fluctuate more. It also hinted that any move by the U.S. Federal Reserve to further ease monetary policy would be measured so as not to disrupt currency values or capital flows in emerging market nations.
Although the core ideas are not new ones for the G-20 - previous statements from the group have promised similar commitments to flexible exchange rates, for example - the accord crafted over two days of talks in South Korea represents a tangible step. The group agreed as it has before that "excessive imbalances" in trade and other relationships should even out over time - requiring countries such as China and Germany to rely less on exports for their economic growth - and the members pledged for the first time to submit to an agreed-upon procedure for measuring progress.
The methods of measurement are still to be developed, but the language marks a potential turning point as the G-20 struggles to ensure its agreement over broad principles translates into action. U.S. officials say they intend to push for more detail, including possible timeframes and numerical targets, as the work of the finance leaders is submitted for approval by the G-20 heads of state who gather in South Korea next month.
The plan envisions
washingtonpost.com
Anybody getting a Copenhagen Summit head rush?
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