Economy, G20 Summit | featured news

President Obama and the G-20 could not agree on how to add resources to the International Monetary Fund so that it can help with the European debt crisis. G-20 members did say that the IMF should have more tools and money, but decisions on exactly how to do that were put off until next year.

The European Union will call on China this week to boost domestic demand and on the United States and Japan to tackle their public deficits as part of global efforts to rebalance growth, an EU document showed.

The world's major nations have put together a new monitoring process that they hope will halt the types of destabilizing economic imbalances that contributed to the worst global downturn since World War II....

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.

North Korea fired two rounds toward South Korea at their tense border Friday and South Korean troops immediately fired back, highlighting the security problems faced by Seoul as it prepares to host Barack Obama and other world leaders at the Group of 20 economic summit next month.