G8 seek sustainable economic expansion

Finance ministers from the Group of Eight (G8) economic powers were set to appeal on Saturday for solidarity with fast-growing economies such as China to nurture non-inflationary economic growth worldwide.

Meeting in St Petersburg, the ministers were set to issue a statement of confidence in economic growth in 2006, highlighting fears nonetheless over high oil prices, inflation or instability from “imbalances” such as a huge U.S. trade deficit.