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The discussion between the leaders in G20 cannot help convince the china’s leader to revalue the renminbi. Although the way that China makes undue gains by keeping the currency in a low value is blamed but the nation is also contributing to the world by supply cheap goods and credit. Besides, fears over employment, exporter’s lobbying and the desire to see “the stronger” China among populace are motivating its leaders to take the stern position. The latter prevents the China’s Leaders to revaluation is “yielding” to foreign pressure because fifty percent of China’s export is contributed by foreign-owned companies.
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Unformatted text preview: Definition of new words: Zero-sum : in economic theory, zero-sum describes a situation in which a participant's gain or loss is exactly balanced by the losses or gains of the other participant(s). If the total gains of the participants are added up, and the total losses are subtracted, they will sum to zero. Zero-sum can be thought of more generally as constant sum where the benefits and losses to all players sum to the same value of money (or utility ). Stern position : strict attitude. Blame : to find fault with somebody, to censure....
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