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G20 summit unearthing new world economy path

The Group of 20 has tried on Thursday  at Seoul of South Korea  to agree how to put the world economy on a sounder footing as renewed fears over Ireland's ability to pay its debts underscored the lingering fallout of the global financial crisis. The G20 had hoped to use the two-day summit to recapture the unity forged in the depths of the crisis two years ago in order to soothe tensions over exchange rates generated by imbalances between cash-rich exporting nations and debt-burdened importers. But even as U.S. President Barack Obama voiced confidence that leaders would find a formula for more balanced and sustainable growth, negotiators squabbled over the language in a closing statement to be issued when the summit ends on Friday. "The persistence of these imbalances is a problem in the long term and these things have to be addressed," said Canadian Prime Minister Stephen Harper. "Will they be addressed at this conference? I'm not so sure, but I think we'