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IMF Managing Director Horst Köhler
"It is important that a common solution is found to strengthen the fragile (global economic) upturn which is being carried mainly by the United States," Köhler said, adding that Asia and Europe should boost domestic demand rather than focus solely on exports. "When only exports are booming, I ask myself who's buying all that stuff," he said.
Köhler also repeated IMF calls for the United States to rein in its burgeoning current account and budget deficits, and said the failure of World Trade Organisation talks in Cancun, Mexico, was a "wake-up call" for developed countries.
"Their rhetoric alone is not enough. They have to follow words with acts," he said, adding industrialised nations should try to re-establish negotiations.
