Would Nanjing's G20 Embarrass Beijing?
Follow us on TWITTER: / cnforbiddennews Like us on FACEBOOK: / chinaforbiddennews G20's "International Monetary Reform Conference" in Nanjing aims to draw plans for reforms in the international monetary system. However the Chinese communist regime refuses to discuss the RMB issue. The meeting time is limited to one day only. What outcomes could Nanjing's G20 achieve? French President and finance ministers of Germany, U.S., UK and other major countries will attend on March 31 the G20 Summit in Nanjing, "International Monetary Reform Conference". France proposed to discuss foreign exchange policy issues. French President Sarkozy hopes that China will accept to talk about its sensitive RMB issue. Le Figaro's article from March 29 points out however, that Sarkozy has pointed out that the currency issue at the G20 conference could be embarrassing for Beijing. A G20 source said that the Chinese regime does not want foreign exchange policy to be given importance at the seminar in Nanjing, worrying of an excessive attention on the RMB issue. The communist regime sent a clear message before the meeting that participants should discuss the currency issue, but the topic should not deal with specific issues within the current affairs. The WSJ said the regime dwarfs every effort, as to minimize the importance of the Nanjing meeting. Foreign Ministry spokeswoman Jiang Yu said at a news conference that the nature of this meeting is "informal and academic." The WSJ also said that the meeting speakers include academic commentators, G20's ministers and central banks governors. Meeting schedule is so tight, each speaker has only a few minutes to air their views of future international monetary system. The depth of the discussion seems doomed too. However, just before the G20 Nanjing conference, China set off the largest wave of price increases on daily essentials. In major cities such as Shanghai, daily essentials run low. Suppliers raise prices, and psychological fear of raised prices deepens again. According to New Century magazine, Wang Changyong, Deputy Director of the Department of Macro Analysis, says that prices of all goods are going up, which is a sign of overall inflation, not structural. Europe and the rest of world are closely watching this meeting, chaired by the French President. BBC had earlier reported that French officials said they will send their Finance Minister and central bank governor to participate in this one-day conference. Presiding G20, France hopes to find a solution to future price volatility and global economic imbalances. In February at the G20 summit in Paris, the communist regime refused changes of rates and monetary indexes as measures of imbalance. What outcomes would this summit achieve? Can the French presidency make a difference? The world will have to wait and see. NTD reporters Tang Rui and Zhu Di 《神韵》2011世界巡演新亮点 http://www.ShenYunPerformingArts.org/
