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Thursday, November 11, 2010

G20 eve Zoellick defended the policy of Sino-US economic

Upcoming G20 summit held in Seoul, South Korea, many people worry that the summit will focus on the outbreak of a currency argument.

U.S. leaders are expected to become the focus of the summit, the two countries are facing many economic and monetary policy criticism.

But World Bank President Robert Zoellick and U.S. economic policy was also defended.

Zoellick acknowledged there are some around these problems do tension because people want to see the resulting trade protectionism.

Zoellick said that because of this, he thought the United States plans to consider limiting the current account imbalances is a good idea, at least in the current account balance, set up a guide.

He also praised China's second five-year plan that includes reform of the monetary system and to expand domestic demand. He said this will change not only in the form of China's economic growth, and service industries in developed countries provide opportunities for competition.

Value of the renminbi has not been away from controversial issues in recent years, the center of the international community intends to suppress criticism of Beijing for the Chinese currency exports an unfair advantage.

The United States has recently taken by the 600 billion U.S. dollars incurred by the quantitative easing policy in China, Germany, Japan and other countries of the criticism that the move will not help the economic recovery in the United States, other countries will be to create inflationary pressures.

Although Zoellick was speaking Chinese and U.S. economic policy a lot of good things, but the quarrel is estimated that around these issues will continue to lead the 20-nation summit.

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