European Central Bank’s President Lagarde urges talks on yuan undervaluation

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European Central Bank President Christine Lagarde urged G7 leaders to address the undervaluation of the Chinese yuan, which is perceived as contributing to global economic imbalances alongside US deficits and European trade issues.

European Central ⁠Bank President Christine Lagarde ⁠on Monday urged global leaders to discuss undervaluation of the Chinese currency as a facet of the imbalances endangering the global economy. China has ‌consistently denied that it manipulates its currency for trade advantage but its surging trade surpluses are one of several macroeconomic mismatches worrying leaders of the Group of Seven (G7) nations who met last week in ⁠France, along with chronic US deficits and Europe’s...