November 11th, 2010
04:50 PM ET

Currency manipulation tops G-20 agenda

President Obama shakes hands with South Korean President Lee Myung-bak Thursday at the G-20 summit.

A fierce debate over currency manipulation may be unfolding behind closed doors at the G-20 Summit in South Korea. Leaders from the nations with the 20 largest economies around the world are meeting in Seoul to discuss how to stabilize and grow the world's economy.

The United States is pressuring China to revalue the yuan at a higher rate relative to the US dollar. The U.S. believes China takes steps to set the value of the yuan artificially low, giving Chinese exports a competitive advantage.

CNN's Steve Kastenbaum takes a look at how currency manipulation affects the U.S. economy and how a change in the yuan's value could help and hurt Americans.

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Filed under: Economy • G-20 Summit • South Korea
soundoff (32 Responses)
  1. an american women

    I'm sorry I said anything I was missinformed my apologize CNN please delete my comments PLEASE

    November 12, 2010 at 10:25 am | Report abuse |
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