Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100 yuan banknotes are seen in this file picture illustration, taken January 21, 2016. REUTERS/Jason Lee/Files
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China faces pressure to reassure nerve-wracked world markets over how it is steering its slowing economy and managing its currency at Friday's gathering of finance ministers and central bankers from the United States, Europe and other major economies in Shanghai.Such meetings of the Group of 20 major rich and developing economies tend to yield no major policy changes. But with anxiety rising over lackluster global growth, investors are looking for reassurance from Beijing, which has been seeking a greater say in guiding global finance and trade but seen its reputation for economic competence battered by recent market turmoil. At the Shanghai meeting, U.S. officials will urge G-20 countries to avoid altering "exchange rates for competitive purposes," a senior U.S. Treasury official told reporters in Washington.
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