y see speculators crowding a market by banning short selling, for example.
But experts predict the laws will fall flat if new European watchdogs do not get sufficient powers to police them. Proving and defining speculation is also difficult.
Britain has insisted on watering down the new watchdogs' influence, fearing they will gain too much say over London's financial center.
European parliamentarians want to give them more clout but, in the face of British opposition, many fear the new policing authorities will be reduced to mere talking shops.
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Negotiators have yet to complete the communique that G20 leaders will endorse on Friday, but on the key issue of global imbalances the language is likely to echo a statement issued by the group's finance ministers on October 23.
Washington has given up, for now, getting others to agree to numerical targets for current account deficits and surpluses.
Instead
Cheap NBA Jerseys , G20 leaders will agree to ask their finance ministers to draw up "indicative guidelines" to reduce excessive imbalances, according to a draft communique.
"You can say in terms of the language it is the lowest common denominator
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Here are the answers to some questions such an outcome would raise:
WHO WOULD WIN AND WHO WOULD LOSE?
Germany and China, the two major surplus countries, would feel vindicated. They have resolutely opposed the U.S. gambit.
"Fixing limits for current account surpluses or deficits is neither economically justified nor politically appropriate. This would also be in contrast to the principles of free trade in the world," German Chancellor Angela Merkel said on Thursday.
But Washington could point to progress on three levels.
First, Treasury Secretary Timothy Geithner will feel that the G20, by signing up for guidelines, has endorsed the principle that trade imbalances should be capped even if numerical targets are a step too far for the group -- for now at least.
Second, by getting the G20 to take up currencies and economic fundamentals, Washington now has a multilateral forum through which it can round up allies to exert peer pressure on China.
Third
Cheap NBA Jerseys , by focusing on sustainable current account levels
christian louboutin barbie shoes In April, Geithner keeps up the pressure for adjustment while avoiding some of the rancor generated whenever outsiders zero in on the need for a stronger yuan, a neuralgic issue for Beijing.
"It is my expectation that the communique will begin to put in place mechanisms that help us track and encourage ... balanced and sustainable growth
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WHA