G7 ministers up pressure on China
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G7 leaders renew pressure on China to relax controls over its yuan currency, at the end of their meeting in Germany.
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The Group of Seven industrial nations called on oil-producing states to provide ``adequate supplies&#39;&#39; and Asian nations to loosen currency pegs to help sustain the strongest world expansion in three decades.
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Finance officials from the Group of Seven issued a fresh appeal to China to revalue its currency and said the United States and Europe had a shared duty to promote balanced global growth.
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China has no immediate plans to let the value of its currency rise, despite renewed pressure at a weekend meeting of Group of Seven finance officials, the government said Monday.
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Southeast Asian economic ministers meet this weekend with counterparts from regional powerhouses China, Japan and South Korea in an effort to liberalize trade and boost business.
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Ministers from the Group of Seven leading economies meet to discuss the fallout from the global credit crunch.
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The Group of Seven finance ministers and  central bank governors gathering in Tokyo on Saturday will  reaffirm their determination to ensure financial stability,  according to a draft G7 statement obtained by Reuters.
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Leaders of the G8 powers will call this week for greater vigilance on hedge funds in the hope that the industry will take it upon itself to prevent accidents like the collapse of LTCM in the late 1990s.
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China faced diplomatic pressure from   rich countries on Saturday to let its currency rise faster to   ease imbalances in trade and capital that pose one of the   biggest risks to the health of the global economy.
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French Economy Minister Christine Lagarde  said on Tuesday that G7 countries had asked China to accelerate  the appreciation of the yuan, and said markets were beginning  to hear the U.S. message on the strong dollar.
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WASHINGTON (CBS.MW) -- Finance ministers from the world&#39;s seven richest nations aren&#39;t likely to pressure China on foreign-exchange policy when they meet with Chinese finance officials for the first time as a group in Washington at the end of the week, a
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Group of Seven finance ministers and central bankers will be joined by representatives from China for the first time at the October 1 meeting of the G7 in Washington, a US official said.
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The increase fed speculation that China was yielding to international pressure and the state of its economy.
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A group of British politicians called Monday on China to use its role as host of the 2008 Olympic Games to put pressure on Sudan over the Darfur conflict and to stop selling weapons to its government.
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ESSEN, Germany  - The G7 industrial powers were set to repeat appeals for flexible exchange rates and warn again against currency volatility but stop short of singling out the sliding yen for overt criticism at a meeting on Saturday.
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A group of industry, farm and labor groups, seeking to put pressure on the Bush administration before the presidential election, petitioned the government on Thursday to file an unfair trade practices case against China.
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Finance ministers from the Group of Seven (G7) wealthy nations gather in London to discuss the global economy.