Barack Obama closes G20 with pop at China over trade

From the UK Telegraph:

The summit in South Korea ended as it had begun, dominated by the row over gaps and surpluses which sees China accused of keeping the yuan artificially low to boost its exports at the expense of US jobs.

"It (the yuan) is undervalued and China spends enormous amounts of money intervening in the market to keep it undervalued," Mr Obama said, adding that China must transition to a market-based system.

"No nation should assume that their path to prosperity is paved simply with exports to the US," he added.

However Beijing is, in turn, furious that the US recently decided to pump an extra $600bn (£370bn) into the US economy through quantitative easing, viewing it as a move to weaken the dollar. International support for Mr Obama's attempts to get tough on China was muted......read on