An investor checks his smartphone as a digital board shows stock market movements at a brokerage house in Shanghai.
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The U.S. Federal Reserve is coming under pressure from emerging markets not to raise rates too soon as turmoil in China threatens global growth, but the G-20 will not publicly call for any delay, delegates meeting in Turkey said Friday.Slower growth in China and rising market volatility have boosted the risks to the global economy, the International Monetary Fund warned ahead of the G-20 meeting, citing a mix of potential dangers such as depreciating emerging market currencies and tumbling commodity prices.Finance ministers and central bankers from the Group of 20 leading economies will be pressing for more on China's plans to tackle its slowdown, amid emerging market concern that a U.S. rate hike on top of the Chinese turmoil would pile on extra pressure, delegates at the meeting in Ankara said.Delegates said the G-20 was not expected to pronounce on China's desire to have its yuan currency included in the International Monetary Fund's Special Drawing Rights basket of currencies, but the issue could well be discussed in the corridors.
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