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China Unveils Its Deliverables for G-20 -- And No Plaza Pact

  • Finance minister calls any Plaza-type agreement ‘just fantasy’
  • PBOC deputy says policy makers balancing reform and stability
Bloomberg business news

How will China Shape the G-20 Meetings?

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Bloomberg News
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China began signaling what its officials plan to present to counterparts at the two-day Group of 20 meeting in Shanghai, laying out a platform for more government spending and renewed pledges of currency stability.

Notably rejected in comments from Finance Minister Lou Jiwei published Thursday was a proposal that emanated from some private-sector analysts for a grand, 1985 Plaza Accord-style deal among G-20 members to guide exchange rates.