February 18, 2011 / 10:25 PM / 9 years ago

China blocking G20 agreement on indicators -source

PARIS, Feb 18 (Reuters) - China is the only country blocking an agreement on a set of indicators to measure global imbalances, leaving deputies with a limited number of options to present to ministers on Saturday, a G20 official said.

The official said G20 deputies had drafted a list of two sets of internal indicators — public debt and deficits and private savings — and two sets of external ones — the current account or trade account as well as reserve levels combined with real exchange rates.

“China is reticent, generally speaking,” he said, noting Beijing preferred to include the trade balance rather than the current account. “And its position on reserves and the exchange rate is well known,” the official said.

China’s opposition had left G20 deputies with limited options to suggest on Saturday: either accept the four indicators or reject them; introduce a hierarchy where some indicators count more than others or use a time delay for their gradual introduction, the official said.

“I cannot tell you what will happen tomorrow. Nobody knows,” he said. “No-one is trying to push China into a corner.” (Reporting by Daniel Flynn and Jean-Baptiste Vey)

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