Economic superpowers turn up the heat on reluctant China

Foreign appeals for China to revalue its currency and so help balance the dangerously lopsided world economy are reaching fever pitch. But Beijing shows every sign of biding its time.
President Hu Jintao gave little away on a visit to Washington last week. He told President George W. Bush that China would move towards a flexible currency regime and open up its markets more, but was vague on when and how.
In talks Friday, the world's seven most powerful economies said it was "critical" for China and other Asian economies to pursue greater currency flexibility, so as to help redress enormous imbalances in global trade.
The finance ministers of Britain, Canada, France, Germany, Italy, Japan and the United States admitted the imbalances are a "shared responsibility".
But the G7 ministers' emphasis was very much on Asia, and especially China, as they issued a catalogue of recommendations on how to rectify imbalances that the IMF warns present a clear and present danger to world growth.