G-20 Criticism of Fed and Release of Fed Documents on Discount Window

Interesting that the Fed releases documents it has been adamant about keeping private while the G20 (IMF) puts pressure to change the balances in currencies...essentially relegating the dollar to a lesser role as the world's reserve currency.

Here are excepts from an article which ran on the Bloomberg site:

A Chinese state economist called for an end to the dollar’s dominance in a paper posted on a website yesterday, blaming the U.S. for fueling inflation. 

Officials including French Finance Minister Christine Lagarde will discuss topics including “shortcomings in the international monetary system” and dealing with volatile capital flows, according to the schedule for the conference in Nanjing, a city on the Yangtze River about 170 miles (270 kilometers) from Shanghai.

Tomorrow’s event also reflects the French leader’s desire to organize a new “Bretton Woods” during his presidency of the G-20 to address what he has called imbalances in the global monetary system. He first raised the possibility of such a meeting in August and pressed the Chinese to act as hosts.

Bretton Woods, New Hampshire, was the site of a 1944 meeting which led to the establishment of the World Bank and International Monetary Fund.

“I think in some sense maybe the axis of discussion for this G-20 is going to be helping the Chinese assume a bit more prominence at the global table,” said Cliff Tan, head of emerging-markets research at Societe Generale SA in Hong Kong.

--Michael Forsythe. With assistance from Rebecca Christie in Washington and James Hertling, Zheng Lifei and Rainer Buergin in Beijing. Editors: Paul Panckhurst, Nerys Avery.

Check out the full article:
G-20 Criticism of Fed Easing May Be Muted at Meeting in China - Businessweek