The Chinese won’t have to fight for their position at the G-20 summit this week in Seoul. This time, they have friends. The Germans. The Brazilians. The South Africans. Even the Indians. For the time being, at least.
This is very different to the G-20 meeting in June at Toronto. Then, China stood in the accused’s dock. US treasury secretary Timothy Geithner was calling for a “balanced” trade policy, and criticising the “manipulation” of the Chinese yuan. But he didn’t achieve much. For a long time, he has been trying to put China under pressure because it keeps its currency value low to export its products cheaper. He was not even sworn in and he had already zeroed on China.
Your Comments