UPDATE 1-US says won’t solve China currency at Korea G20

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WASHINGTON, Nov 1 (BestGrowthStock) – The United States does not
anticipate quick moves from China on its currency, but will
push the Group of 20 summit in South Korea for more progress on
tackling global economic imbalances, U.S. officials said on
Monday.

“We do not expect the China currency issue or the imbalance
issue to be solved once and for all in Seoul. This is part of
an ongoing effort,” Michael Froman, White House deputy national
security adviser, told reporters.

President Barack Obama’s will attend the G20 in South Korea
between Nov. 10-12 during a 10-day tour of Asia, when he will
also visit India, Indonesia and Japan.

U.S. officials said that getting the G20 to endorse a
framework to ease excessive economic imbalances was a top U.S.
priority, because the United States was no longer prepared to
fuel world growth through heavy U.S. borrowing, imports and
consumer spending.

(Reporting by Matt Spetalnick; Editing by Will Dunham)

UPDATE 1-US says won’t solve China currency at Korea G20