Global Hopenchange expires: Defiant G20 set to face Obama

And Mr. Obama must try to do all of that in the middle of a global recession for which most of the world blames the United States. “The U.S. brand name has clearly suffered from this crisis, and the rest of the world is no longer willing to sit quietly and be lectured by the United States on how they should conduct economic policy,” Mr. Rogoff said…

“Emerging markets now think they can do what they want without hectoring from the United States,” said Mr. Prasad, the former monetary fund official.