G20 Summit in South Korea Split Over Geithner's Trade Plan

Photo: U.S. Secretary of the Treasury Timothy Geithner

The Group of 20 (G20), an international group of 20 national finance chiefs, are planning to meet in Gyeongju, South Korea. Bloomberg reports that the G20 are split over U.S. Treasury Secretary Timothy F. Geithner's proposed trade plan that calls for G20 members to encourage national policies that "reduce trade surpluses and deficits 'below a specified share' of their economies." Yoshihiko Noda, Japan's Financial Minister, and Rainer Bruederle, German's Economy Minister, were among the national finance ministers who reject this type of "command economy" approach, reports Bloomberg.

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