t r u t h o u t | G-20 Doesn't Offer Much Reform

For example, in 1985 five of the G-7 countries (the U.S., France, U.K., Germany, and Japan) agreed on the Plaza Accord to bring down the value of the dollar. This was accomplished through coordinated intervention by central banks. ... Treasury Secretary Tim Geithner says we want a "strong dollar." At the same time, our government complains that China is keeping its currency undervalued. These two statements are logically contradictory, since an undervalued Chinese ...