Economic rifts loom as G-20 leaders meet

Gone is the unity that marked the previous G-20 summits --- first held in November 2008 in the wake of the financial crisis --- as rancor over "currency wars" ratchet tensions among the United States, China, Europe and emerging economies.

U.S. momentum to pressure China on the value of its currency evaporated last week when the U.S. Federal Reserve announced it would pump $600 billion into the economy. The move, known as "QE2," will push down the value of the dollar as it pressures emerging economy currencies to rise, and has been criticised around the world."It's setting up to be one of the more interesting G-20s," said Kirby Daley, senior strategist for Newedge Group.