World’s Central Bankers Convene in Shanghai

Central bank leaders from five continents are in Shanghai Monday to discuss ways to strengthen the global economic recovery.The conference is hosted by People’s Bank of China governor Zhou Xiaochuan and Dominique Strauss-Kahn, managing director of the International Monetary Fund. It includes senior bank officials from Asia, Africa, Europe, and North and South America.The conference follows on the annual meeting of the World Bank and IMF earlier this month in Washington, where finance ministers and central bankers were not able to agree on how to resolve currency disputes between major powers.The issue, which has several countries trying to lower the value of their currencies to gain a competitive advantage on trade, is expected to dominate a meeting of G20 finance ministers later this week in South Korea.The G20 consists of key industrialized and developing economies – Voanews