CLEAN: China-US spat hobbles G20 push on world economy

The video discusses the US's commitment to reducing its deficit by 2013 and the need for countries with large surpluses to boost domestic demand. It highlights the importance of exchange rates reflecting economic realities and the necessity for emerging economies to allow market-driven currencies. New banking standards are agreed upon to prevent future crises, focusing on development as a key driver of economic growth. The undervaluation of the RMB is addressed as a concern for global trade, with expectations for gradual progress. The video concludes with closing remarks.

What is the United States' target year for cutting its deficit in half?

• 2013

• 2015

• 2018

• 2020

What is a key focus of the agreements made in Seoul regarding banks?

• Increasing bank profits

• Ensuring banks have enough capital to withstand shocks

• Encouraging banks to take more risks

• Reducing bank taxes

What is considered the most effective means of lifting people out of poverty according to the new development policy?

• Creating sustainable economic growth

• Increasing exports

• Increasing foreign aid

• Reducing taxes

Why is the RMB considered an irritant in global trade?

• It is overvalued

• It is undervalued

• It is not widely used

• It fluctuates too much

What is the expectation regarding the RMB issue?

• It will become more undervalued

• Progress will continue to be made

• No progress is expected

• It will be solved overnight