Reuters first with news of G20’s failure to resolve economic imbalances row

G20 negotiators haggled into the night at the G20 summit in Seoul as time ran out to agree how to measure economic imbalances. Reuters obtained a final draft of the wording on this crucial issue early in the morning on Nov. 12 and ran an alert to explain that proposals for “measurable” and “quantitative and qualitative” indicators had been dropped, leaving just the lowest common denominator formulation of “indicative guidelines”. This reflected the failure of the advanced and emerging economies, in particular the United States and China, to narrow differences between them on economic policy, setting the scene for further tension around currencies and global trade.