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Yuan Move by China Leaves U.S. Spenders, German Savers Tilting World GDP

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"China’s biggest shift in currency policy in almost two years is just one step on the path toward recalibrating the forces needed to drive the world economy into a sustainable expansion," according to Bloomberg. "With so-called rebalancing on the agenda for this week’s Group of 20 summit in Toronto, China’s June 19 signal that it will allow a more flexible yuan still leaves it and Germany under international pressure to spur domestic demand and on the U.S. to become thriftier. Failure to force change in the behavior of consumers and companies risks leaving the global economy reliant on spending by Americans and savings elsewhere, a mix blamed for triggering the global recession."
SOURCE:   Bloomberg