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China finance talks target energy prices
(AP)
Updated: 2005-10-16 10:29 The threat from high oil prices and lagging growth
in poorer nations topped discussions at talks outside Beijing due to wrap up
Sunday with a statement by top financial officials of the world's leading
economies.
The annual summit of the Group of 20 major industrial nations was to be
immediately followed by China-U.S. economic talks that were expected to yield
more pressure on Beijing to loosen controls on its currency, the yuan.
U.S. Treasury Secretary John Snow and Federal Reserve Chairman Alan Greenspan
were leading the delegation of top economic experts from the administration of
President George W. Bush.
Treasury officials said in Xianghe, a heavily guarded fortress-style resort
an hour's drive outside Beijing, that they intended to intensify and broaden the
debate over China's economic reforms, urging China to further develop domestic
demand and financial services -- as well as allowing greater flexibility for the
yuan.
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