TORONTO (Reuters) – World leaders moved away on Saturday from lockstep policy pledges to secure economic recovery, leaving countries leeway to chart their own courses in taming government debt and clamping down on banks to prevent another financial crisis.
The Group of 20 leaders of the world’s richest and emerging nations, holding a two-day summit in Toronto, neared agreement on broad principles to halve their budget deficits within three years and toughen bank capital requirements, according to a draft communique obtained by Reuters.
OTTAWA, June 24 (Reuters) – China, the world’s biggest
exporting nation, wants to double its trade with Canada to $60
billion by 2015, President Hu Jintao said on Thursday.
Hu made his remarks during a meeting with Canadian Prime
Minister Stephen Harper, whose Conservative government is
trying hard to boost ties with Beijing.
BEIJING/WASHINGTON, June 21 (Reuters) – Policymakers in the
world’s major economies will closely monitor the Chinese yuan
this week for signs it is actually moving after Beijing
announced it would make its exchange rate more flexible.
The Group of 20 nations will meet in Canada next weekend to
hash out a course for the future as the world gradually emerges
from the worst financial crisis since the 1930s.
BEIJING/WASHINGTON, June 20 (Reuters) – Policymakers in the
world’s key economies will closely monitor the Chinese yuan
this week for signs it is actually budging after the country
announced it would make its exchange rate regime more
The group of 20 nations is set to meet in Canada to hash
out a course for the future as the world gradually emerges from
the worst financial crisis since the Great Depression.
BEIJING (Reuters) – China’s announcement that it will resume currency reform made waves globally but caused barely a ripple in domestic media on Sunday, underscoring government sensitivity about a highly politicised economic issue.
Over the past few months, China and the United States have been engaged in a very public war of words about the value of the Chinese yuan, or renminbi, straining ties already burdened by spats over Tibet and U.S. arms sales to Taiwan.
BEIJING (Reuters) – China will keep the yuan’s exchange rate at a basically stable level, the central bank said on Sunday, suggesting that the country’s new currency regime will look a lot like the old one.
China announced on Saturday that it would resume making the yuan more flexible, signalling that it was ready to break a 23-month-old peg to the dollar that had come under intense international criticism.
BEIJING (Reuters) – China’s announcement that it will resume currency reform made waves globally but caused barely a ripple at home on Sunday, with major newspapers merely reprinting the central bank’s statement.
The People’s Daily, the main organ of the ruling Communist Party, put the news on its back page, while the banner headline on the website of the official Xinhua news agency was about torrential rain in southern China.
WASHINGTON/BEIJING (Reuters) – The United States pressed China on Friday to move toward a market-based exchange rate, but Beijing said not to meddle with its management of the yuan, setting the stage for a clash at next week’s G20 summit.
World leaders gathering in Toronto on June 26-27 are struggling to maintain the crisis-forged unity that has been credited with preventing another Great Depression.
BEIJING/WASHINGTON, June 18 (Reuters) – China told the rest
of the world on Friday not to meddle with the way it manages
the yuan, setting the stage for a clash with its biggest
trading partners at next week’s G20 summit.
U.S. President Barack Obama released a letter to his Group
of 20 colleagues that zeroed in on prickly policy differences
over China’s currency stance and debt-wary Europe’s rush to
rein in bulging budget deficits.
BEIJING (Reuters) – China told the rest of the world on Friday not to meddle with the way it manages the yuan, calling the exchange rate a sovereign matter for it alone to decide.
Beijing is under pressure from Washington in particular to let the yuan rise in value to help reduce the large U.S. trade deficit with China, and markets are expecting the issue to come up at next week’s Group of 20 summit in Canada.