Officials have failed to agree targets to reduce global economic imbalances on the first day of the two-day G20 meeting in Paris. They negotiated through the night discussing economic imbalances between members, which many blame for the global financial crisis.The G-20 Finance Ministers are due to meet later today hoping to endorse attempts to solve them. They will try to hammer out a compromise.The countries want to better coordinate economic policies to avoid a repeat of the 2008 global financial crisis. Economists say that China and other mercantilist countries contributed to the 2008 financial crisis by accumulating excessive foreign currency reserves, especially US dollars.