G-20 faces urgent task of averting trade war
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Leaders of the world's 20 biggest economies scrambled to reach a last-minute compromise Friday to resolve a US-China currency dispute that has raised the specter of a global trade war.
A draft of the joint statement to be issued at the end of the Group of 20 summit - obtained by The Associated Press - indicated that huge differences remain. The main sticking point is how to deal with US accusations that China deliberately undervalues its currency to gain a trade advantage while similar charges are being leveled against Washington. (AP)
