G20 latest meeting had some results, no more devaluation the currency, the Group of 20 nations agreed to refrain from devaluing their currencies to increase international market competitiveness. The accords seek to soothe global fears of race-to-the-bottom of currency depreciations. Can be transformed to currency wars, radical act is coming from China
G20 agreement is intended to stave off a round of snowballing devaluations that many worried would follow China's decision to let its currency depreciate in August. All members agreed to hold back
G20 latest statement said, "We will refrain from competitive devaluations, and resist all forms of protectionism," read a statement from the Group of 20 published by Bloomberg Saturday.
Currency devaluation is a bad things, Some suspected that Beijing's move was an effort to boost export demand as China's economy continued to falter, a strategy that risks spreading devaluation pressures to other countries and heightening global trade tensions. Some selfish act we think, But aside from a few minor currencies, like the Kazakhstani tenge and Vietnamese baht, no major central banks have followed suit with depreciation plans. Emerging forex markets down as China's yuan devaluation
G20 agreement, Still, some say there is room for concern. "There is a shared sense that the G20 needs to double down on its principle that competitive devaluation is a bad thing," a senior U.S. Treasury official told Reuters and other news outlets at the meeting. No need to follow
As reported by Bloomberg, The Group of 20 which includes the U.S., China, Russia and India, also agreed on a number of other macroeconomic measures meant to address disappointing economic news. "Global growth falls short of our expectations," the group's statement continued. G20 members said, "We have pledged to take decisive action to keep the economic recovery on track and we are confident the global economic recovery will gain speed." slowly but sure the global economic growing stronger than before
Meanwhile, The finance officials agreed that while monetary policy would remain a focus amid volatile markets and weakening growth, central banks could not improve the world's major economies on their own. "Monetary policy alone cannot lead to balanced growth," the statement said. Central bank should be wiser, economic growth is need more time reaching the stability
G20 agreement is intended to stave off a round of snowballing devaluations that many worried would follow China's decision to let its currency depreciate in August. All members agreed to hold back
G20 latest statement said, "We will refrain from competitive devaluations, and resist all forms of protectionism," read a statement from the Group of 20 published by Bloomberg Saturday.
Currency devaluation is a bad things, Some suspected that Beijing's move was an effort to boost export demand as China's economy continued to falter, a strategy that risks spreading devaluation pressures to other countries and heightening global trade tensions. Some selfish act we think, But aside from a few minor currencies, like the Kazakhstani tenge and Vietnamese baht, no major central banks have followed suit with depreciation plans. Emerging forex markets down as China's yuan devaluation
G20 agreement, Still, some say there is room for concern. "There is a shared sense that the G20 needs to double down on its principle that competitive devaluation is a bad thing," a senior U.S. Treasury official told Reuters and other news outlets at the meeting. No need to follow
As reported by Bloomberg, The Group of 20 which includes the U.S., China, Russia and India, also agreed on a number of other macroeconomic measures meant to address disappointing economic news. "Global growth falls short of our expectations," the group's statement continued. G20 members said, "We have pledged to take decisive action to keep the economic recovery on track and we are confident the global economic recovery will gain speed." slowly but sure the global economic growing stronger than before
Meanwhile, The finance officials agreed that while monetary policy would remain a focus amid volatile markets and weakening growth, central banks could not improve the world's major economies on their own. "Monetary policy alone cannot lead to balanced growth," the statement said. Central bank should be wiser, economic growth is need more time reaching the stability
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