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Daily Breeze
US: China must boost domestic demand
leaves Thursday for his first trip as president to Asia, was successful in getting the Group of 20 nations at a meeting in Pittsburgh in September to agree to pursue policies to deal with global imbalances. Full Article at Daily Breeze
Related Articles
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The 21-member Pacific Rim group includes China, which is under pressure, particularly from the United States, to allow its currency to rise, having effectively pegged it against the dollar since the middle of 2008 to help fend off the global downturn. " Full Article at International Business Times
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China must continue to work to boost domestic demand to avoid global imbalances in the flows of trade and investments between nations, a senior U.S. Treasury official said Tuesday. Full Article at ABC News
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Martin Feldstein joins those arguing that China must let the value of the renminbi rise: Although China has agreed to take steps to reduce global imbalances and its trade surplus, it is reluctant to let its currency rise. ... Full Article at Economist's View
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G20 officials to wrestle over economic imbalances By JANE WARDELL AP Business Writer More News Finance ministers from the world's leading rich and developing countries are gathering here Friday to begin the difficult negotiations over how to even out... Full Article at KansasCity.com
Related Quotes
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I believe deeply that it's very important to the United States, to the economic health of the United States, that we maintain a strong dollar
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We're very, very encouraged to see what's happening here in terms of a broad reform agenda ... to try to produce the economy more dependent on domestic sources of growth
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It is particularly important for us when it comes to Asia as a whole to recognize that in the absence of a more robust export strategy it is going to be hard for us to rebuild our manufacturing base and employment base in this country
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It cannot be acceptable that the benefits of success in this sector are reaped by the few but the costs of its failure are borne by all of us ... There must be a better economic and social contract between financial institutions and the public based on trust and a just distribution of risks and rewards.
