As G20 Summit Nears, China Is Unlikely to Budge on Currency

The idea of "rebalancing" the world economy is simple. Before the financial crisis, some advanced countries (led by the United States) were overspending, and some poorer countries (led by China) were oversaving. The two offset each other. The big spenders ran large trade deficits, and the big savers ran large trade surpluses. Now the financial crisis has dampened the overspending. If the big savers don't increase their spending, the world economy faces prolonged slow growth....
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