Info Trends 24

President Barack Obama, in his Asia tour, takes steps one by one. In his meeting with Indonesian president Susilo Bambang Yudhoyono, he told addressing G20, "We still have a lot of work to do...one of the key steps is putting in place additional tools to encourage balanced and sustainable growth." "We have not yet achieved that balanced growth," Obama said, citing that some countries were intervening in currency markets to maintain an advantage, without naming names.

The United States' ultra-loose monetary policy is sending a flood of cash looking for higher returns in emerging markets such as Indonesia, leaving them grappling with surging currencies that can hurt their exports, while the U.S. wants China to let its currency rise faster to reduce Beijing's trade advantage.

Obama said G20 progress would not happen "all at once" and the U.S. was not looking to contain China. "We want China to succeed and prosper. It's good for the United States if China continues on the path of development that it is on," he said.