Deutsche Welle: “Currency Clash – The G20 Under Pressure”
The global financial crisis has uncovered a need for greater financial market regulation, but it also revealed a growing currency question that has dominated the international financial agenda in recent weeks. The U.S. government has accused China of artificially suppressing its currency in order to boost its own export industry. Meanwhile, the Federal Reserve has purchased government bonds totaling more than $600 billion dollars in an effort to jumpstart the American economy. The U.S. trade deficit continues to balloon as China and Germany enjoy massive surpluses, and Washington has called on both countries to slow their booming export industries and spend more on imports.