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G20 ducks the troubled reminders of 2008 | Advantage 'zyaada'

A bank employee holds RMB100 bank notes (USD15) in Beijing on June 23, 2010. China has come under increasing international pressure to change its currency policy. The U.S. has complained that China is artificially keeping the value of the yuan low to help its exporters at the expense of foreign competitors.   UPI/Stephen Shaver Photo via Newscom

In the morning of course, there was clarity that there would be no mandating of bank tax and it was made an optional item, Germany and England ( not the football) game for the new tax..Then Lulla was stuck at home when flooding was reported in Brazil and the BRIC gang never got together for a separate meet, and now there is unanimity that Yuan is not on the agenda of this international forum in deference to China’s wishes and no mention would be made of it in the closing statement.

United States President Barack Obama and first lady Michelle Obama arrive at the G20 Summit in Toronto, June 26, 2010.   REUTERS/Jim Young  (CANADA - Tags: POLITICS)

As I was tweeting yesterday, it seems more topical to catch the NBA Draft on television than Toronto’s political shennanigans even with Obama and Montek Singh Ahluwalia in attendance. The crisis was too much of an interesting time together, now boring days are unnecessarily distracting. Like confucius wshed on his enemies: May you live in interesting times! Of course, the crisis will continue another year and a half at the very least, a spread on Greek and German bunds notwithstanding, Britain and France would not be bankrupt come 2012 and US, real estate and Dollar would remain the most important global assets.

Obama met indonesian premier at breakfast meeting and has bilateral discussions with Sardarji’s team later tonight.

India's Prime Minister Manmohan Singh (L) is greeted by Canada's Prime Minister Stephen Harper as he arrives at the G20 Summit in Toronto, June 26, 2010. REUTERS/Jim Young (CANADA - Tags: POLITICS)

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This entry was posted on June 27, 2010 by in Amitonomics, Banking, Emerging Markets, Financial Markets, Global, O'nomics and tagged , .

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