Challenges await US at G 20 meeting

The article talks about the US's weak negotiation position in the G 20 summit this year. It alludes to the fact that the fed's decision to pump 600 Billion Dollars into the US economy has startled many other countries. The Chinese state credit agency recently downgraded The US's credit rating. Although this wont have a huge effect on the US monetarily, since most other countries see it as an acceptable credit risk, the symbolic value of this move is felt by many others. The move openly challenges the US's role as the leader of the global economy. The emerging markets also view this move with suspicion since this will depreciate the dollar exchange rate and undercut their own competitiveness. They're are even talks about taxing the incoming capital from the US to protect the emerging markets from asset busts similar to the housing bust in the US. Even Germany stated earlier that Americas problem was the dependence on debt and the lack of competitiveness in their industries, something that is being overlooked by it. Hence, the US is going to have to do some tough bargaining in this summit because in the current scenario every country is for itself, something that is not very apparent at G20 meetings, where countries usually act to better the global economy.