BBC听力材料文本总结-G20.doc

The Group of 20 nations have a consensus on which way they need to go in terms of currencies. That is the word from Canadas finance minister, Jim Flaherty. He spoke Friday just before the G20 finance ministers and central bank governors- began their meeting. Where were trying to get to is an action plan that will avoid the temptation by some countries to protect their currencies in different ways, Flaherty said. None of the G20 members, he explained, wants to be confrontational or leave here without an agreement-. Officials from host South Korea predict some progress will be made onresolving- the currency issue.There are growing concerns that many nations may competitively depreciate their currencies to protect exports-. Many economists, however, -caution- not to expect any sort of grand bargain similar to the 1985 Plaza Accord“广场协议” 后的美元爆跌, which addressed the value of the U.S. dollar.Ahead of the G20 session, ministers of the G7 economies huddled. Canadas Flaherty, who chaired- those talks, said there was a frank exchange of views at the informal meeting China, as the number two economy, faces pressure to stop controlling its currency, which the United States, European Union and Japan say is undervalued. The weakened U.S. dollar has prompted more money to pour into Asian currencies where there is a better return on investment. But there are concerns that this flow of money could destabilize economies.But research fellow Jeong Young-Sik at the Samsung Economic Research Institute in Seoul does not envision a unified Asian stance - at this G20 meeting. Jeong expects that Japan, as a highly developed country, will take a stance closer to that of the United States. South Korea and China, he explains, will be more sensitive to the appreciation- of their own currencies. Japans finance minister, Yoshihiko Noda, earlier this month said South Koreas role as the summer- chair would be called into question if it repeatedly intervened to weaken its currency, the won. But Noda, on Friday, also rebuffed a U.S. proposal that all G20 nations agree on a target for current account balances往来帐余额；经常帐户收支 to ease currency tensions. He called numerical targets unrealistic.U.S. Treasury Secretary Timothy Geithner in a letter to G20 members, urges countries running big trade surpluses/deficit - notably China - to change policies to boost - domestic sources of growth and support global demand. At the same time, he says countries that have trade and budget deficits, such as the U.S., should focus on sustai