Economics
Plaza Accord II Faces High Hurdles to Turn Talk Into Action
- Strategists differ on whether pact should weaken or boost yuan
- `I'm not holding my breath,' ex-U.S. Treasury official says
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A modern-day Plaza Accord is much easier said than done.
Three decades since world economic leaders united at a New York hotel to weaken the dollar, analysts at Deutsche Bank AG and Bank of America Corp. are saying there may become a need for a new currency pact. The goal: calm financial markets and safeguard global growth as China’s yuan slides and the greenback surges.