China, G20 | featured news

The European Union will call on China this week to boost domestic demand and on the United States and Japan to tackle their public deficits as part of global efforts to rebalance growth, an EU document showed.

The finance ministers from the Group of 20 economic powers reached a compromise, after pressuring China, on how to track imbalances in the global economy.

Any accord is unlikely to require the most powerful surplus economies, China and Germany, to make substantial policy changes in the short term.

President Obama urged other world leaders Wednesday to reduce their reliance on exports to the United States to drive their economic growth, stressing a need to resolve global imbalances such as China's huge trade surplus.

China lashed out at Japan and the US for their stance on territorial disputes in waters off its coast as Asian leaders gathered in Hanoi, hindering talks on currency and trade policies before a Group of 20 ...

The Senate is unlikely to take up pending China currency legislation following a weekend promise by the Group of 20 economic powers to shun currency devaluations for trade advantage, analysts said on Sunday.