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Failing Elite Food Gambit?


Sarkozy takes G20 case to Obama as food prices soar ... French President Nicolas Sarkozy (left) takes his campaign for greater global food price and currency stability to Washington this week when he seeks Barack Obama's support for France's goals as head of the Group of 20 powers. Soaring food prices and riots in Algeria and elsewhere offer Sarkozy ammunition to press for more coordination among G20 governments to combat wild swings in vital commodity prices as well as exchange rates against the long-dominant U.S. dollar. Sarkozy wants to use his run at the G20 helm in 2011 to start, if not finish, reforms of the monetary system at a time when many countries are tempted to let their currencies drop to promote exports and growth after the worst downturn since World War Two -- even if that is at each others' expense. ... Paris is also pressing for international efforts to impose greater transparency in commodity market trading and pricing, and for tougher regulation of commodity derivatives trade along the lines pursued for other investment derivatives in the wake of the financial market crisis that began in 2007. – Reuters

Dominant Social Theme: We shall make sure everyone has proper nutrition.

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