G-20 Seals Currency Peace Pact as China Sets Out Bubble Cleanup
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Global finance chiefs agreed to avoid getting drawn into currency battles after China set out plans to steer its economy onto a slower path of expansion.
Finance ministers and central bankers from the Group of 20 nations pledged Saturday to “refrain from competitive devaluations” after a two-day meeting in Ankara. That’s the first time the G-20 has used such language since 2013.