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G20 leaders risk the wrath of China

Over the last few weeks it has become evident that the Chinese economy will play a central role in the worldwide recovery. As a consequence, G20 members have today written to China with regards to what they see as "backsliding on economic agreements" of the past. The G20 letter was signed on behalf of Canada, South Korea, the US, the UK and France and is certain to cause anger within the Chinese government.

There would appear to be specific concern regarding the strength of the Chinese currency which many believe is hampering worldwide trade and allowing China to play a larger than expected role in the worldwide recovery. However, the truth is that the Chinese economy has been growing for some time and the power of the Far East and China in particular continues to expand. The US, China and Japan have been trading partners for some time now but whether the US authorities are concerned about the strength of the Chinese economy or indeed looking to shoehorn themselves in to play a greater role in the worldwide recovery remains to be seen.

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