G-20 reach compromise deal on imbalances

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G-20 reach compromise deal on imbalances

Post by Strawberry on Sun Feb 20, 2011 8:06 am

The world's dominant economies on Saturday took a small step toward smoothing out the global trade and currency imbalances at the root of the global financial crisis, overcoming Chinese objections and setting the stage for even tougher negotiations in the months ahead.

Finance ministers and central bankers from the United States, Britain, China and other large developed and developing economies struck a compromise deal after all-night talks on how such imbalances should be measured, marking a small victory for host nation France as it embarks on a year-long leadership of the Group of 20 rich and developing nations.


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