| India will raise the recent currency devaluations by the Chinese central bank and its ramifications to the global economy in the upcoming in G-20 meet in Turkey. "The recent devaluation of major currencies followed by currency depreciations in a large number of Asian emerging markets raise the risk of competitive devaluations. Competitive currency devaluations, at a time when global demand is sluggish, is a major threat to stability in the global economy," an official statement from the finance ministry said.
The statement comes on the eve of Finance Minister Arun Jaitley leaving for a two-day conference of G-20 finance ministers and central bank governors, who will take stock of the global economic situation and review the member nations' growth strategies...............................................Full Article: Source
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