Economic

China tees up G20 showdown with US

“China has curtly dismissed a US proposal to address global economic imbalances, setting the stage for a potential showdown at next week’s G20 meeting in Seoul.

Cui Tiankai, a deputy foreign minister and one of China’s lead negotiators at the G20, said on Friday that the US plan for limiting current account surpluses and deficits to 4 per cent of gross domestic product harked back ‘to the days of planned economies’.”

(Source: FT.com / China – China tees up G20 showdown with US.)

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