China, France Say They Should Avoid Confrontation on Currencies
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Chinese President Hu Jintao and French President Nicolas Sarkozy met in Nice today to discuss reforming the international monetary system, with a French official saying they agreed that Group of 20 nations should avoid “looking for guilty parties.”
France takes over the presidency of the G-20 later this month and has said one of its objectives is reforming international rules on currencies, which are still largely based on agreements and institutions created at the 1944 Bretton Woods conference.