Asia Bizz: G20 Meeting May Resolve US-China Currency Issues
The ongoing G20 meeting in Seoul has shown that the US-China currency issues may be resolved very soon, and as a matter of fact, the major economies have thoroughly agreed that they will avoid currency devaluation to stabilize their economy. Leaders have finally agreed to tackle out the problem of trade imbalances that has been sprawling throughout many countries.
The situation was quite intense, especially between leaders of some top economies, who were trying to discuss ways to resolve the trade imbalances issue. But as everything was looking quite positive during the session, but US was not convinced on the fact. It now looks that the tensions between US and China will be halting global growth on a wide scale.
According to a statement made by President Barack Obama, he has said that there should be no controversies in regards of fixing trade imbalances. He added “Exchange rates must reflect economic realities”. It is very clear here that US and China will be playing the final role to get the economy in the correct position, and as of now we have to see the final conclusion at the end of the summit.