2013: THE G20 Members are expected to make a commitment to avoid weakening of their currencies to gain a trade advantage. As per a Draft Statement prepared for the proposed meeting, the G20 members will withhold direct criticism of Japan’s efforts to rally its economy from 15 years of deflation even after the yen’s 19 percent slide against the dollar in the past six months.

G-20 officials were urged to maintain a pledge to refrain from influencing exchange rates at the expense of other countries, emphasizing Japan’s recent policies align with the pact saying that Japan’s measures are consistent with the G-20’s goals and are positive for Canada’s economy.China's exchange rate will be market oriented and in the near future they're going to increase the floating band even further.Such a move would be part of building the “infrastructure” for China's currency to eventually have a bigger global role

Fiscal drag, policy uncertainty, impaired credit intermediation, private deleveraging, and an incomplete rebalancing of global demand continue to weigh on global growth prospects,” the draft says. The U.S. and Japan will be asked to set out credible plans for medium-term fiscal consolidation, while acknowledging that scope exists in the U.S. to provide more support for economic recovery. Euro-area countries will be asked to move more quickly toward a banking union.