G7 losing patience on China's exchange rate

The G7 retained the same official language following its meeting in Washington at the weekend, but the rich nations' frustration over China's fixed currency regime was evident in comments from various policymakers.

John Snow, US treasury secretary said following the meeting that China had had long enough to get its financial system ready, and over two years of dialogue with the US and the rest of the G7 on reforming its fixed exchange rate. "With this groundwork in place, China is ready now to

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