There has been concern that the US plays too big a role in world leadership. As China and other developing countries emerge, pressures to alter the leadership role have increased.
The G-20, while it will be formal and filled with diplomatic-speak in public, is not going to be an easy meeting for the US. It is doubtful that dissent will break out into the open, but one never knows. The US is increasingly viewed as a declining economic power attempting to maintain its control much like a fading star attempts to maintain old glories.
The world views the US as led by an inept and incompetent President who has surrounded himself with arrogant amateurs that have little idea of what they are doing. Two key players, Bernanke and Geithner have lost favor and respect around the world. The Fed was claimed to be “clueless” by a top German official. However, next to Geithner, Bernanke appears to be an absolute genius.
Read Mish’s take on this here.
