G7 likely to discuss US slowdown

Taking place during the World Bank and International Monetary Fund meetings in Singapore, the state of the US economy is likely to be central to their talks.

In addition to discussing the apparent slowdown in the US, the ministers are also likely to look at China.

The G7 comprises the US, UK, Canada, France, Germany, Italy and Japan.

Less buoyant US

"The G7 leaders will debate various issues concerning the world economy," said Japanese Finance Minister Sadakazu Tanigaki, who will chair the meeting.

While the world economy is currently seen as performing better than expected, with the International Monetary Fund predicting growth of 5.1% this year, there is concern about the potential knock-on effect of slowdown in the US.

"One important question... is how the world will adapt to a less buoyant US economy," said IMF Managing Director Rodrigo de Rato.

The US will be represented at the G7 meeting by Treasury Secretary Henry Paulson and Federal Reserve chairman Ben Bernanke.

America's economy expanded at an annual rate of just 2.9% in the second quarter of this year, down from 5.6% in the first.

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