China and Germany belittle U.S. actions before G20

Countries need to work together if currency devaluation to work as a solution for excessive debt burdens. Targeting trade imbalances through policy and descriptive exchanges such as “clueless” do not support cooperation. It suggests that policies are heading in the opposite direction.

China rebuffed on Friday a U.S. plan to set target limits for trade imbalances and Germany dubbed the Fed's money-printing policy "clueless," setting the stage for what could be a fractious G20 summit next week.

Washington believes an undervalued yuan is a major cause of economic imbalances and has pressed Beijing, largely in vain, to let the currency rise more swiftly to reflect the strength of what is now the world's second-largest economy.

Source: finance.yahoo.com