CLEAN: China-US spat hobbles G20 push on world economy

The video discusses the US's commitment to reducing its deficit by 2013 and the need for countries with large surpluses to boost domestic demand. It highlights the importance of exchange rates reflecting economic realities and the necessity for emerging economies to allow market-driven currencies. New banking standards are agreed upon to prevent future crises, focusing on development as a key driver of economic growth. The undervaluation of the RMB is addressed as a concern for global trade, with expectations for gradual progress. The video concludes with closing remarks.

What measures are being taken in the United States to address the deficit?

What is the significance of exchange rates in the context of economic stability?

How do emerging economies need to adjust their currency policies according to the text?

What approach was agreed upon to protect taxpayers from future bank failures?

What is the main issue regarding the RMB as mentioned in the text?