BREAKING NEWS

US says G20 to focus on global demand, China forex

By REUTERS

JUNE 15, 2012 19:43

WASHINGTON - Group of 20 leaders at their meeting next week will focus on strengthening global growth and encouraging China and other emerging countries to bolster growth and support currency flexibility, a senior US Treasury Department official said on Friday.

"The G20 will look to maintain momentum on rebalancing demand, which is critical to stronger overall growth," Lael Brainard, Treasury's undersecretary for international affairs, told reporters ahead of the Monday-Tuesday summit in Mexico.

"Key of course to achieving this among other things is for China and other surplus emerging market economies to take fiscal and other measures to support domestic consumption as well as allowing exchange rates to reflect market forces," she said.

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