G-20 World Leaders Split Over Economic Fix

Split Over Economic Fix As Ministers Meet

World leaders are at odds over how to fix the world economy with no nation in a position of strength as talks continue about the global economic crisis.  The U.S. wants more worldwide stimulus while Europe wants world leaders to focus on much tougher oversight, blaming the U.S.  for its lax regulation and the trigger for the economic decline.

China, the holder of more than $727 million in Treasury securities has expressed concern for its government's investments.  Many at the G-20 Summit have voiced much concern about the cracks in the United States economy and the fact that the U.S. is trying to spend its way out of the recession. Chinese investments in U.S. Treasuries have for years helped finance U.S. budget deficits, keep interest rates low and buoy the dollar. China's fear is that overspending on stimulus by the United States could ignite inflation and send interest rates climbing.

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