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Could China wreck a possible G20 agreement?

As Gordon Brown fights to keep the G20 together and singing from the same hymn book it has been revealed that Chinese authorities may be looking to cause problems at the forthcoming London summit. It is well-known that EU and US governments have been in talks about a stricter and more widespread regulatory system that this would appear to be something the Chinese authorities are not in favour of. As China is one of the largest countries and largest economies in the world, an agreement at the G20 without Chinese representation would be fairly worthless.

While in public Gordon Brown is suggesting that the Chinese authorities have shown interest in a worldwide regulatory system, historically they have been against the implementation of worldwide regulations which reduce flexibility in domestic markets. The meeting has not even begun in earnest and already Gordon Brown is fighting to keep warring factions together amid rumours that behind the scenes deals may be offered to smooth the way.

Gordon Brown took a big risk over the last few weeks by trumpeting his role at the forthcoming G20 meeting in London and effectively staked his short-term future on the outcome. Initially the soundings had been good for an agreement between all parties but over the last few days weaknesses have risen to the surface.

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