Europe’s Economic Woes Forestall Worldwide Recovery

The issue of European economic troubles will be addressed at the upcoming G20 summit in Mexico City, Mexico. The crisis with the euro and the implosion of sovereign debts in Greece and elsewhere present strong impediments to the growth of the world economy. Additional issues to be addressed at the meeting include China’s unwillingness to let the yuan appreciate at market rates. This meeting of the G20 is particularly interesting given the changes in leadership underway in the People’s Republic of China (PRC) and the upcoming U.S. presidential election between incumbent Barack Obama and challenger Mitt Romney.