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Zuma cautions against trade protectionism, currency devaluation

Boao, China – President Jacob Zuma has called on developing and developed countries not to move towards trade protectionism or to significantly devalue their currencies.

“If these occur, it would merely result in a race to the bottom and undermine all G20 efforts to achieve strong, sustainable and balanced growth,” said Zuma, while addressing the opening ceremony of the Boao Forum for Asia Annual Forum Conference 2011 hosted in Boao on Hainan Island. [Read more…]