G-20 summit（峰会） fallout（附带结果）: Trade barriers （障碍）and tensions （紧张）could ri as more countries go it alone （单干）
初中英语作文写作技巧
G-20 leaders po for a group photo at the G-20 summit in Seoul, South Korea, Friday, Nov. 12, 2010. Top row, left to right: World Trade Organization chief Pascal Lamy; International Monetary Fund Managing Director Dominique Strauss-Kahn; ILO Director-General Juan Somavia; Saudi Arabia's Foreign Minister Prince Saud al-Faisal; Singapore's Prime Minister Lee Hsien Loong; Prime Minister Jo Luis Rodriquez Zapatero of Spain; Prime Minister Nguyen Tan Dung of Vietnam; Secretary-General of the United Nations Ban
Ki-moon; World Bank President Robert Zoellick; OECD Secretary-General Angel Gurria; Financial Stability Board (FSB) Chairman Mario Draghi. Second row, left to right: President Bingu wa Mutharika of Malawi; President of the European Council Herman Van Rompuy; Prime Minister Naoto Kan of Japan; Prime Minister Silvio Berlusconi of Italy; Chancellor Angela Merkel of Germany; Prime Minister Manmohan Singh of India; Prime Minister Stephen Harper of Canada; British Prime Minister David Cameron; Prime Minister Julia Gillard of Australia; Commission President Jo Manuel Barroso of the European Union; Prime Minister Meles Zenawi of Ethiopia. Bottom row, left to right: President Jacob Zuma of South Africa; President Dmitry Medvedev of Russia; President Nicolas Sarkozy of France; President Susilo Bambang Yudhoyono of Indonesia; President Luis Inacio Lula da Silva of Brazil; President Lee Myung-bak of South Korea; President Hu Jintao of China; President Felipe Calderon of Mexico; President Cristina Fernandez de Kirchner of Argentina; President Barack Obama of the United States; Prime Minister Recep Tayyip Erdogan of Turkey. (AP Photo/Charles Dharapak)
Paul Wiman, AP Economics Writer, On Friday November 12, 2010, 5:06 pm EST
WASHINGTON (AP) -- The world's most important economies are going home to look after themlves. They left their summit without any meaningful agreement, finding it ever harder to cooperate （合作） and more likely to erect （建立，竖立）trade barriers to protect their own interests.
The Group of 20 meeting of leading rich and developing nations ended Friday in South Korea with no solutions to longstanding （长期的） tensions over trade and currency（货币）, and with the cooperation of the 2008 financial crisis now a distant memory.
The U.S. couldn't persuade other countries to pressure China to stop manipulating（操纵） its currency or limit their own trade surplus铁杵磨针翻译（贸易顺差） and deficits （赤字）. The Americans faced charges （指控） of doing some currency manipulation of their own by pumping $600 billion into their economy.
The stalemate（僵局） in Seoul means that trade disputes could intensify（变激烈）, warns Eswar Prasad, professor of trade policy at Cornell University. He's worried that there "may be more open conflicts on currency matters. This has the potential to feed into 最新qq英文网名
more explicit （明确的，清楚地） forms of protectionism airliners（保护主义）cheek, which could t back （推迟） the global recovery."
The summit was a diplomatic tback （外交退步）for the United States.
China was suppod to be the villain（恶人） of the G-20 meeting. The U.S. and other countries have accud Beijing of keeping its currency, the yuan, artificially low to give its exporters an unfair advantage. The currency manipulation helps Chine exporters by making their goods less expensive around the world, leading to charges that cheap Chine products cost America jobs at a time when U.S. unemployment is stuck at 9.6 percent.
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The U.S. wanted to rally（团结，集合） other G-20 delegates to strong-arm（用暴力对付） China over the yuan. A stronger yuan would reduce the U.S. trade deficit（贸易逆差） with China, which is on track to match the 2008 record of $268 billion. But the U.S. argument was undercut （底切，削弱） by accusations（指责） that the Federal Rerve （美联储） was rigging （操纵，垄断）the currency market itlf.
Last week, the Fed said it would esntially print $600 billion to jolt （颠簸，震荡）the U.S. economy back to life. The Fed says its plan to buy zulTreasury bonds （国库债券） was designed to lower long-term interest rates（利率 ）, spur economic growth and create jobs. Since the Fed hinted at the policy in late August, the Dow Jones industrials（道琼斯工业指数） have rin 13 percent , and interest rates on 30-year fixed-rate mortgages （固定利率抵押贷款） have hit a record low of 4.17 percent.
But foreigners saw a more sinister（凶险的） intent（意图）: to flood world markets with dollars, driving down the value of the U.S. currency and giving U.S. exporters a price edge（优势）difficulty.
"Basically, what happened was a diplomatic coup（政变） for China," says William Cline, nior fellow （研究员）春节晚会主持词 with the Peterson Institute for International Economics. A few months ago, countries from Brazil to Germany were criticizing Chine trade policies. "Fast-forward, and now China and Germany and Brazil are blaming the United States for causing currency problems."
poolingEmerging economies （新兴经济） also complained that the Fed's bond （债券） purchas would push Treasury yields（收益） so low that investors eking higher returns （回报）will overwhelm（压垮，打击） their fragile （脆弱的） markets. The fear: Investors would sink money into emerging market asts（资产） -- currencies, stocks and other investments. That would push up their currencies, hurt their exporters, trigger（引发） inflation（通货膨胀）, create bubbles（泡沫） in stocks and other asts and leave them vulnerable to（易受攻击的） a crash when investors withdraw （撤退）their money.
