Europe and Japan expected to press US at G7 meeting

[dArKeR]

The US will be pressured by the Europeans and Japanese at the upcoming G7 meeting to get its "twin deficits" under control as part of an effort to stabilize the flagging dollar, analysts say.

The two-day G7 finance ministers meeting opening tomorrow in Boca Raton, Florida, will give leaders a chance to take stock of the global economic situation.

Economists say the Europeans, and to a lesser degree the Japanese, are concerned that their strengthening currencies will dent exports and cut into their fragile economic recoveries, and want a G7 statement to help reverse the dollar's slide.

"Clearly, the dollar is the hot-button issue. Both the Europeans and the Japanese have expressed concerns about the dollar depreciating too rapidly," said Sung Won Sohn, chief economist Wells Fargo Bank.

http://www.taipeitimes.com/News/worldbiz/archives/2004/02/05/2003097572

Or just dump Junior and everything will fix itself.