China just isn’t ‘playing ball’ with the rest of the G20 nations by rigging the value of the yuan rather than letting it ride the economic wave. Maybe Sam T. Dachshund needs to attend the 10/22 meeting, eh? — PID
(REUTERS) — /snip/ Robert Johnson, director of the Soros-funded Institute for New Economic Thinking, said G20 needs agreement on the size and pace of the currency shifts between three main groups — the United States and major consumers; the big exporters of China, Japan and Germany; and a grouping of emerging exporters.
“There is competitive devaluation going on,” said Johnson, a former director at billionaire George Soros’ fund management firm and former economist at the U.S. Senate Banking Committee.