G20 Finance Ministers and Central Bank Governors Meeting held to stop this war will become the common currency.

<P> As early November the Group of Twenty (G20) global financial summit last warm-up, G20 finance ministers and central bank governors from 22 local time, opening Gyeongju in South Korea from the U.S., Europe, Japan and China and other major .economies, fiscal and monetary policy chiefs are expected to attend. .21 held in the first deputy-level meeting, national Choi Jin Gaoguan unanimously for the "currency war" held intense discussions. .</ P> <P> According to overseas media, the country is expected to promise a meeting this weekend to avoid competitive devaluation of the currency so as to prevent a repeat of the last century 30's "and the neighbors sink" the tragedy. .Many experts and government officials are introduced to the United States made the endless criticism of the quantitative easing policy, which brought to the majority of hot money into emerging markets and market fluctuations, is still in a difficult world economic recovery, laying new .risk. .</ P> <P> States will undertake to avoid competitive devaluations </ P> <P> According to the agenda, this meeting of G20 officials will begin 21 to 23 over. .The first day will be the national deputy finance ministers and central bank vice governor of the meeting, after two days of G20 finance ministers and central bankers will focus on appearance. .</ P> <P> The high-profile three-day meeting of finance in mid-G20 is designed to Seoul next month to do final preparations for the summit, therefore, the subject of much attention. .In addition to members of the G20 finance ministers and central bank governors, the International Monetary Fund (IMF), President Kahn, World Bank President Robert Zoellick, EU Economic and Monetary Affairs Committee member Ryan and General of the Organization for Economic Cooperation and Development in the ancient .person in charge of Asia and other international organizations will attend this week's meeting. .</ P> <P> competing in the recent multi-country intervention in currency markets, "currency war" in the context of global smoke from the major economies of the senior officials will invariably focus on the exchange rate issue. .</ P> <P> 21, local media reported that the day of the deputy-level meetings, senior officials to exchange rate countries engaged in a fierce debate. .The report quoted a senior government official as saying that the exchange rate issue has recently become the main topic of G20, but the attitude of the major countries has eased at the meeting, the parties on the currency issue is expected to narrow differences of opinion and reach consensus, and the results included in the Joint Declaration. .</ P> <P> According to a draft communique obtained by foreign news agencies, G20 Choi Jin Gaoguan at the end of the meeting on Saturday promised to "avoid competitive devaluations", G20 will focus on the exchange rate more market-oriented health system, and .At the same time, countries will work together to make "excessive exchange rate volatility and the negative impact of disorder" is minimized. .</ P> <P> However, since the relevant debate has just begun, the final joint communique or statement of the content may also change. .Some U.S. officials are not optimistic about this week's meeting of G20 officials will put any major joint statement, said that this is mainly because the next G20 summit hosts South Korea want to leave any major statement to the November meeting of the summit. .</ P> <P> recently in Japan, Korea, Thailand, Brazil and other countries have taken measures to intervene in currency markets in different forms, some people even exclaimed, "currency war" era has arrived. .In this regard, many experts have warned. .</ P> <P> Nobel Laureate Stiglitz stressed once again this week, the currency war is not real winners. .He pointed out that the bad times when the economic situation, some countries often only from their own interests, but the present, the pace of global coordination to jointly formulated by the recovery strategy is particularly critical. .</ P> <P> Geithner promote "exchange rate policy specification" </ P> <P> non-executive chairman of Morgan Stanley Asia, Stephen Roach, Yale University professor told a recent interview with Shanghai Securities News pointed out that despite the current .On the Money "war" seems a bit exaggerated, but it does reflect the current tough global economic environment, who do not want their currencies, thereby inhibiting the export, which means that the future may arise between countries more trade friction. .</ P> <P> from a historical perspective, the country narrowly protect their own industries and the adoption of the practice of currency devaluation to promote exports, will only bring "more lose" situation, as the 30s of last century "and the neighbors as sink ."tragedy, and ultimately lead to the Great Depression. .In this regard, G20 meetings this week to participate in the number of countries have also been awareness of senior officials. .</ P> <P> Recently, G20's many senior officials are on the current situation a warning. .Brazilian Finance Minister first proposed the "currency war" dangerous, Indian Prime Minister is "concerned about the global situation," the Bank of England governor also possible wave of protectionism warned, urging nations to act for the collective interest .. .</ P> <P> the exchange rate for the current predicament, the U.S. Treasury Secretary Timothy Geithner 21 proposed a new proposal, that the level of G20 exchange rate policies to create a set of "norms." .Similar proposals by other G20 countries not immediately get a response, but may be discussed during the meeting as one of the elements. .</ P> <P> In an interview with The Wall Street Journal interview, Geithner said the world urgently needed in the exchange rate policy to reach agreement on the guiding principles. .Although he admits that what is fair for the exchange rate policy, there is no a consensus. .</ P> <P> Geithner also said the United States is urging all members of G20, whether industrialized or developing countries, hopes that all countries adopt "quantitative indicators" to determine whether the country's trade surplus or deficit in the "sustainable" .in order to measure the advance a more balanced global growth efforts made much progress. .</ P> <P> the U.S. blindly, "pouring money" provoked controversy </ P> <P> addition to the exchange rate, this will be the G20 meeting of senior officials to discuss other issues of common concern, such as the IMF quota reform. .Local media said the G20 meeting of Gyeongju is divided into five chapters: In the first chapter, the finance ministers will discuss the world economic situation and prospects of the second branch will be "strong, sustainable and balanced growth framework" .The third chapter focuses on IMF reform and building a global network of financial security issues, were fourth and fifth chapters focus on financial regulatory reform and energy issues to discuss. .</ P> <P> is worth mentioning that, despite the United States has been China's RMB exchange rate "to heart," but the United States itself was defective in the recent monetary policy has been widely criticized by developing countries, which .The G20 has become a major focus of the meeting. .</ P> <P> example, in the first for the "World Economic Situation and Prospects" of the branch, countries will be present in the current world economy, discuss the main risk factors, including the new influx of international capital .the hidden economy of risk, which is considered to be the United States just extremely accommodative policy consequences. .</ P> <P> 21 arrived in South Korea's central bank governor of Turkey, says Thomas Doyle, the developed countries to stimulate their economies and create too much liquidity, which has brought liquidity to the global consequences of flooding, causing .emerging market asset prices rose. .In this regard, developed countries have the responsibility and obligation to take appropriate action. .Brazilian President Lula pointed out that most of the dollar is the root of the problem facing the country, the United States must find a solution. .Stiglitz is publicly criticizing the Fed might take a new round of quantitative easing monetary policy stance. .</ P>.