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(Image from article: "G-20 refuses to back US push on China's currency")

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G-20 refuses to back US push on China's currency

Leaders of 20 major economies on Friday refused to back a U.S. push to make China boost its currency's value, keeping alive a dispute that raises fears of a global trade war amid criticism that cheap Chinese exports are costing American jobs.

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Fed's decision clouds G-20 debate

President Obama urged other world leaders Wednesday to reduce their reliance on exports to the United States to drive their economic growth, stressing a need to resolve global imbalances such as China's huge trade surplus.

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