US Treasury Secretary: China must avoid competitive FX devaluation

US Treasury Secretary Jack Lew is hitting the wires last minutes, during a meeting with Chinese vice Premier Wang Yang, highlighting the importance of avoiding competitive FX devaluations.

Key headlines (via Reuters):

• China has tools to support domestic demand
• Expressed support for China joining the Paris Club. The Paris Club is a group of officials from major creditor countries whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.