Things will not turn out well since the U.S. wants other G20 members to introduce more stimulus spending and European G20 members, especially, are giving us the one finger salute so far, saying they don't want increased deficit spending.
First, I'm really surprised by this infighting. It may be the byproduct of the fact that 'old Europe' is miffed at the Chinese-American cooperation.
Second, if there's a continuing impasse on this, it's going to spell increasingly terrible news for export dependent economies all over Europe, and may give even more rise to protectionism.
And that could doom the global economy.
G-20 Finance Chiefs Work to Tackle Toxic Bank Assets, Seek to Defuse Rift
http://www.bloomberg.com/apps/news?pid=20601087&sid=aj.prF7XxSbg&refer=home
First, I'm really surprised by this infighting. It may be the byproduct of the fact that 'old Europe' is miffed at the Chinese-American cooperation.
Second, if there's a continuing impasse on this, it's going to spell increasingly terrible news for export dependent economies all over Europe, and may give even more rise to protectionism.
And that could doom the global economy.
G-20 Finance Chiefs Work to Tackle Toxic Bank Assets, Seek to Defuse Rift
http://www.bloomberg.com/apps/news?pid=20601087&sid=aj.prF7XxSbg&refer=home
:eek: