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Edition: U.S. Article Comments (5) Email Print Reprints Full Focus Best of the week Our top photos from the past week. Full Article Read Mexico kills top drug lord at U.S. border 12:50am EDT Microsoft's Ballmer sells 12 percent stake in company 05 Nov 2010 U.S. dollar printing is huge risk -China c.bank adviser 03 Nov 2010 Obama: U.S. can't afford two years of gridlock 05 Nov 2010 Ron Paul vows renewed Fed audit push next year 04 Nov 2010 Discussed 269 Obama warns of policy rollback if Republicans win 114 Boehner vows to repeal Obama healthcare reforms 100 Republicans to win control of House with 231 seats Watched Bejeweled bra exposed in NY Thu, Oct 21 2010 Russian spy poses for Maxim Tue, Oct 19 2010 U.S.-Mexico drug tunnel discovered Thu, Nov 4 2010 France, China urge balanced trade, reform Tweet This Share on LinkedIn Share on Facebook By Emmanuel Jarry and Kevin Yao NICE, France (Reuters) - France and China have reached a "real convergence" over the need to reform the global financial system after two days of talks between President Nicolas Sarkozy and his Chinese counterpart Hu... Related News CORRECTED - UPDATE 3-France, China urge balanced trade, reform Fri, Nov 5 2010 France's Sarkozy says discussed rights with Hu Fri, Nov 5 2010 France sees G20 "convergence" with China -source Fri, Nov 5 2010 France urges balanced trade during China's Hu visit Fri, Nov 5 2010 France, China to form nuclear power partnership Thu, Nov 4 2010 Analysis & Opinion Liu who? UN’s Ban silent on rights during China visit China should not be our next whipping boy Related Topics World » China » China Labor Unrest » France » Stocks By Emmanuel Jarry and Kevin Yao NICE, France | Fri Nov 5, 2010 6:37pm EDT NICE, France (Reuters) - France and China have reached a "real convergence" over the need to reform the global financial system after two days of talks between President Nicolas Sarkozy and his Chinese counterpart Hu Jintao. France told China that balanced trade and close cooperation was the best way to shield the world from future crises and the menace of protectionism, and China promised its support for Paris as it takes over the G20 presidency this month. Sarkozy has big ambitions for his year at the helm of the Group of 20 leading economies and would score a coup if he can get Beijing to back his goals of finding ways to reduce volatility in commodity markets and diversify currency reserves. A close aide to Sarkozy said Beijing had agreed to organize a seminar of experts in 2011 on reviewing the international monetary system. Between talks with Hu in the Riviera resort of Nice and taking him for dinner near the city's promenade, Sarkozy told reporters the two leaders also discussed human rights and added that he hoped France could encourage progress in that area through "gentle" dialogue with Beijing. Of Sarkozy's aim to improve economic stability, the aide said there was a "real convergence of views between China and France on the objectives to achieve." "France's ambition is that everybody agrees to sit around the table to set down the bases of a new system that guarantees stability in the world," Sarkozy later told reporters. NO TABOOS The statement came as global anger at a fresh round of liquidity injections into the U.S. economy grew, notably from emerging nations and a highly critical Germany. On human rights, Sarkozy said: "Hu Jintao is somebody with whom one can talk. There are many differences between the Chinese and the French but we covered all subjects." "There is no taboo, notably on the issue of human rights," added Sarkozy, who also sat down with Hu in Paris on Thursday. "To resolve the big problems in the world we need China, and a frank, constructive, amicable dialogue," Sarkozy said. "This is what we have been doing for two days. Before Hu flew to Nice, French Economy Minister Christine Lagarde told Chinese officials and business leaders that Paris wanted much more balanced trade relations with Beijing. Concerns over global trade imbalances, largely China's huge surpluses with Western nations, and the threat of "currency wars" will top the agenda at next week's G20 leaders' summit in Seoul, after which France takes on the group's presidency. "The strength of our trade is the best defense against the real risks from the financial, economic and social crises which have struck all economies, including France of course and China, of which protectionism is the most ugly threat," Lagarde said. 1 2 Next World China China Labor Unrest France Comments See All Comments (5) | Post Comment Nov 05, 2010 7:26pm EDT The Chinese government is a criminal entity comparable to the drug cartels of Mexico. Anyone who does business with them has blood on their hands. surfinStevePi Report As Abusive Nov 05, 2010 8:16pm EDT Wow, thank god you are not representing anyone but yourself. Western countries just have not given China that much incentive to let their products be competitive in China. And I doubt they ever will. kc10man Report As Abusive Nov 05, 2010 8:21pm EDT Hah! The Europeans and the Americans are “saints”. They “saved the world” by creating a financial crisis. And their government officials are really intelligent in imposing strict austerity measures in reducing debts they created and raise the age of retirement. They are so friendly and united. They helped Greece and all those nations in financial trouble with no conditions attached. They have a shiny clean human rights record and have never sent a single person to the Middle East killing civilians. Their don’t have blood on their hands only moisturiser and money. They are so wealthy and rich. Everybody is employed. They have never stolen any ideas or technology from other countries in the history of the world. Honestly, all the European and American governments are criminals. China and all Asian countries should stop doing business with them and let them have their jobs back. This can create an massive inflation with all products and services cost higher and no body can afford those products, then their economy will go bust. China should produce stuff for their own people and mind our business. Don’t invest in them now! Do it after they go bust. It’s cheaper! Anti-West Report As Abusive Nov 05, 2010 8:30pm EDT Obama is certainly doing a good job in ruining American economy! Anti-West Report As Abusive Nov 05, 2010 11:40pm EDT Three idiotic comments out of four, that’s an interesting ratio. sensi Report As Abusive See All Comments (5) Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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