G7 MEETING Ministers to call for faster yuan appreciation - sources |
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Fri, 19 Oct 2007 22:34
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WASHINGTON (Thomson Financial) - G7 finance ministers and central bankers will call for China to accelerate the appreciation of the yuan at the end of their meeting here, sources said.But a draft of the communique to be issued at the end of the G7 meeting does not mention the weakness of the dollar and the euro's sharp rise against the US currency, the sources said.G7 ministers and central banks will call for more transparency from sovereign wealth funds from booming emerging economies and oil producing countries, they said.The G7 is expected to describe global growth as robust, but acknowledge that growth will be 'more moderate' as a result of the turbulence in financial markets, high oil prices and the weakness of the US housing market.steve.whitehouse@thomson.comsw/roCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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China central banker says EU pressure on yuan due to trade surplus 