Finance ministers from the G20 nations ended two days of meetings in South Korea with a pledge to ease trade tensions that threaten global recovery. Though short on details, the informal agreement on exchange rates is seen as a step forward in defusing tensions that could lead to protectionism and possible trade wars. But without a viable enforcement mechanism, according to noted American economist Joseph Stiglitz, the pledges are nothing more than symbolic.
Under pressure to show leadership and boost cooperation on rebalancing the world economy, finance leaders meeting in South Korea vowed not to use their currencies as economic weapons to boost exports.
But without agreement on how to measure progress, South Korea'
