TORONTO In the days leading up to the meeting, Obama secured a that could benefit U.S exports, a European commitment to improve bank transparency rules and an that gives him leverage in encouraging others here to take similar steps.But as he meets with the Group of 8 in a rural resort town north of here, Obama is appealing to European leaders not to trim back public spending in the midst of a
China’s currency is considerably less undervalued against the US dollar than it was six months ago because of the cut in the Chinese current account surplus, according to research by two US-based academics.The level of the undervaluation of the renminbi against the dollar has fallen from 40 per cent at the end of last year to 24 per cent, say William Cline and John Williamson at the Peterson Inst