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China to Commit on Currency Flexibility, Brainard Says

China will make commitments on currency flexibility as part of a Group of 20 action plan that will call upon export-oriented economies to boost domestic consumption, said Lael Brainard, U.S. Treasury undersecretary for international affairs.

Brainard said China is “playing a quite constructive role” in conversations that will commit trade “surplus countries” to stepping up domestic consumption. Currency flexibility “will be part of the action plan” announced at the end of the summit, Brainard said at a briefing in Cannes, France.