German urges resolution on trade imbalance issue
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German Chancellor Angela Merkel said Thursday that the ongoing debate over trade imbalance will be importantly handled at the G20 Summit, with the participant leaders seeking to resolve it through concerted efforts.
"We must be able to see a breakthrough with respect to the current account imbalance issue," said the head of Germany, taking part in the G20 Seoul Business Summit to give a luncheon speech.
Merkel, though stressing cooperation as proper means, stood dubious over whether the issue can be addressed through one single guideline.
"We should check whether there are other factors that are relevant to the issue," said Merkel.
It is not necessary to set a goal in terms of current account, Merkel said, adding it is also inappropriate in terms of financial and fiscal nature.
As current account is not something governments could have an influence over, public authorities should refrain from stepping in, according to the chancellor.
The G20 Seoul Business Summit is being held ahead of the kick- off of the G20 Seoul Summit.
