about the currency abroad

[southernfinery]

GYEONGJU, South Korea (AP) - The world's leading advanced and emerging countries vowed Saturday to avoid potentially debilitating currency devaluations, aiming to quell trade tensions that could threaten the global economy. I put this here so you could decide for yourselves about the rate of our currency abroad as I had stated in another forum post under politics about how our currency was losing value steadfastly since the new administration and I believe I can give you some feedback on that.I will put a quote in from the ap(associated press) but you can google it ok.The grouping, which accounts for about 85 percent of the global economy, said in a statement that it will "move towards more market determined exchange rate systems" and "refrain from competitive devaluation of currencies."this grouping is 20.The agreement comes amid fears that nations were on the verge of a "currency war" in which they would devalue currencies to gain an export advantage over competitors - causing a rise in protectionism and damaging the global economy.The agreement, which includes no specific numerical commitments, appeared to be a step forward from a similar meeting two weeks ago in Washington when finance officials failed to resolve differences.Nations in Asia and other regions have been trying to limit the strength of their currencies amid a sustained weakness of the U.S. dollar out of fear their exports will become less competitive in world markets. At the same time, China's currency has been effectively pegged to the dollar, provoking an outcry that it is being kept artificially low and giving China's exporters an unfair advantage.The G-20, which has been around since 1999 and includes both rich and emerging countries, assumed the role of global economic leader following the financial crisis. The Group of Seven advanced nations faced criticism that it was too narrow a forum and failed to represent the voices of China and other fast-growing countries such as India.The meetings come ahead of a G-20 summit in Seoul set for Nov. 11-12 when leaders will consider the agreements reached by the finance officials as well as other proposals for strengthening the global economy.If this doesn't imply a one world government then I don't know what will.It also indicates a move toward a one world currency and this is why our president was in secret meetings with china.imo