G20: US declares financial war on world

There is no possibility of agreement at the upcoming G20 summit because the U.S. is declaring financial war on other countries, believes American economist Michael Hudson. The U.S. has been pushing China to revalue its currency – at a time when Washington has been pumping billions of dollars into its economy – a move viewed by other countries as an attempt to deliberately weaken the greenback.

The issue of exchange rates is expected to be one of the toughest discussion points at the G20 summit in South Korea later this week.

Michael Hudson, a renowned economist and Wall Street financial analyst and advisor, says the meeting in Seoul will not bring an end to global currency wars.

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