Geithner wants G-20 to come up with sustainable trade surpluses and deficits and then set exchange rates to maintain them. Cart before horse, again. Socialist thinking. If a country's cost structure, it's price structure, has been distorted by misplaced government actions then that country should pay the price in trade.
German Economy Minister Rainer Bruederle said he was opposed to numerical goals.
“Macroeconomic fine-tuning and quantitative targets are not the right approach in our view,” Bruederle said.
There you have the great divide. Wacky ideas from U.S. and head-shaking from people grounded in reality.
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