In the meeting of world's 20 largest countries Finance ministers, Currency issue was main.
There were two types of thoughts, we had seen in this meeting. One side was of China and Japan and other side of USA.
China and its currency yuan and Dollar of the U.S. are on target. USA wants that countries should devalue their currencies to gain a competitive advantage in a world economy . One the other side, With non-consistent Currency policy of China, its adverse affect on U.S. Manufacturing Sector and jobs together. China export-led growth speed is quite fast because not any flexibility in China's currency. China's exports relatively cheap in this world is falling. With India - with Russia and Brazil also like that would not go back to global system in which rich nations led by the U.S. to try to fix their domestic fiscal policies used. but I think developing countries are divided on the issue.
What is the issue U.S. Responsible for the letter to Finance Minister Tim Gaethanar
* The trade deficit and surplus were asked to keep a certain limit.
Pranab in this issue is trying to avoid controversy.
China, Japan And Germany expressed over negative feedback.
Italy Not fully agree with the proposal of the U.S.
Only Canada told the motion correctly, the French also favor