Great power conflicts overhang G20 summit in Pittsburgh

As political leaders and central bankers gather for the Group of 20 summit of major economies, to be held today and Friday in Pittsburgh, they face the task of papering over increasingly open and embittered conflicts over policies to revive the world economy and prevent another financial disaster.

One year after the near-collapse of the global financial system, mutual pledges of multi-lateral coordination and rejection of protectionist policies proclaimed at last November’s G20 summit in Washington and the April summit in London are being overshadowed by divisions over economic policy. These differences correspond to the national interests of the ruling elites of the US, Europe and rising economic powers in Asia and Latin America—above all, China.

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