PARIS (AP) — Germany’s finance minister says he believes the world’s dominant economies will reach a deal on how to track dangerous imbalances in the global economy, as the Group of 20 rich and developing nations’ work to prevent another financial crisis.
Wolfgang Schaeuble said Saturday that he thinks “we will today reach agreement on what indicators to use to measure imbalances, to manage undesirable trends in time.”
G-20 finance ministers and central bank governors meeting in Paris appear to be closing in on a list of five indicators, focusing on current accounts, real effective exchange rates and currency reserves, as well as public and private debt levels.
However, China, the world’s second biggest economy, has so far opposed targeting current account surpluses and exchange rates, as it has resisted letting its own currency, the yuan, appreciate more quickly against the dollar.
