G20 summit to "exercise restraint and intervention in the foreign exchange market"

Group of Twenty (G20) summit in Seoul, the last day at 12:30 on the 12th Xu, Bloomberg reported, said: "German Chancellor Angela Merkel said on the current account guidelines (guideline) will be discussed in the next year." Guide to the U.S. current account is proposed, calling for "the current account surplus and deficit control the scale of the gross domestic product (GDP) ± 4% or less." If the guide is passed, the country's trade surplus will reduce exports, increase imports. Therefore, the trade powers - Germany strongly opposed the U.S. proposal, the program eventually died.

United States President Barack Obama's "statement", all mixed. First, the failure to make "the exporting countries such as China, Germany and the huge current account surpluses of less than 4% of control," the program was adopted. But the exchange rate re-affirmed the principle of partnership, successfully reached a major framework agreement. After the outbreak of the global financial crisis, the economic strength of the U.S. recession, but the core issues by the leading G20 summit, to a certain degree of success to maintain control of the world economy. China issued a joint declaration in the day to include "enhanced exchange rate flexibility, and promote a balanced current account," the content, it can be said is to accept the requirements of the U.S. appreciation of the renminbi.

But this is not that China at this meeting losers. Chinese President Hu Jintao as the International Monetary Fund (IMF) share of the biggest beneficiaries of the reform. The share of China in the IMF ranks rose from sixth to third place. China in the IMF's position within the last occupied in the global economy and the proportion of (the second or third) flat.

Next year's summit, French President Nicolas Sarkozy, President of the country is also a rewarding experience. Because the present national activities, Sarkozy arrived before 12 am in Seoul, it is not the day before to participate in the "exchange rate negotiations." G20 summit but failed to develop "guidelines current account" agreement, the decision of France in next year's G20 summit consultations, so next year's G20 summit, Sarkozy's presidency as head of the exchange rate mastered the core focus of the dominant right. Japan empty-handed. Naoto Kan, Japanese Prime Minister to issue the world's second largest economy sound. G20 summit to "exercise restraint and intervention in the foreign exchange market" to reach an agreement, so as to prevent the yen's appreciation and the recent intervention in the foreign exchange market in Japan lost face.

The summit served as President of South Korean President Lee Myung-bak though not on the current account guide to facilitate agreement, but still made great achievements. First, the exchange rate contributed to the great success of the framework agreement. In addition to building the global financial safety net to support the issues raised by developing countries such as South Korea, has successfully reached an agreement. In addition to countries such as Brazil's "emerging countries to rapidly access the control of speculative capital," also reached an agreement