WASHINGTON, (Reuters) – Global finance chiefs sought yesterday to prevent rising tensions over currency valuations from derailing a fragile economic recovery, as policy makers stressed they must work together to find ways to rebalance global growth.
Ministers from the Group of 20 nations repeated a call for export powerhouses, such as China, to spend more at home so indebted countries, like the United States, can rebuild their finances without risking a still-fragile global recovery.
Officials are worried a weak U.S. dollar and relatively strong currencies elsewhere could push nations into a round of currency depreciations to help their exports.
