Finance Chiefs Warn Currency ‘War’ Is Risk to Growth

Global finance chiefs struggled to find a solution to differences over exchange rates as they warned a currency “war” could hobble the world economy.

As the International Monetary Fund’s annual meeting began in Washington, policy makers warned that efforts to boost exports by embracing weaker currencies threatened to provoke protectionism and trade imbalances at a time when economic growth is already slowing. China was again the target of criticism as foreign officials called the yuan undervalued and pushed for its appreciation to be accelerated.