Treasury Secretary Says G20 Agreed to Cooperate More on Exchange Rates, Etc.
U.S. Treasury Secretary Geithner stated at the conclusion of the October 23, 2010 G-20 meeting that the most important thing achieved was an agreement on a framework for curbing excess trade imbalances in the future. Recognizing that the challenge is…
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multilateral, surplus economies need to shift away from export dependence and a stronger policy of domestic demand, and certain other economies like the U.S. need to complete reforms to increase savings, investment, and exports. The countries also agreed to cooperate more closely on exchange rate policy.