WASHINGTON, Apr 22 (AFP): The world's seven most powerful economies said yesterday it was "critical" for China to revalue its currency and warned that record oil prices risk slowing global growth.
In a statement issued after a day of talks, the finance ministers of Britain, Canada, France, Germany, Italy, Japan and the United States said the world economy's outlook was "favorable" as it enters a fourth year of growth.
"Yet risks remain from oil market developments, global imbalances and growing protectionism. We underscored that global economic adjustment is a shared responsibility," the G7 ministers said.
Meeting as oil prices in New York surpassed 75 dollars a barrel for the first time, the officials called for greater investment in oil consuming and producing countries, and for more conservation and energy efficiency.