G-20 Leaders Near Financial Deal

G-20 leaders in South Korea came close to an agreement for currency and trade policies on Wednesday, after disagreements led to volatile international markets for the past few days. Yet many still say the deal won’t ease the tension between countries. In the deal, nations would increasingly let markets determine currency rates, but there was no consensus on how to deal with currency interventions. The agreement doesn’t yield new commitments from China to let its currency rise—one of the chief disagreements among the G-20 countries. Despite warnings against protectionism from President Obama prior to Thursday's summit, some nations, including Taiwan, South Africa, and China, already imposed regulations against foreign competition.