G20 nations lock horns over path to recovery

THE world’s 20 biggest rich and emerging powers were locked late last night in talks on fixing distortions that threaten global growth, as their leaders kicked off a fractious summit.

There is anxiety that G20 nations could be heading for a return to 1930s-style trade protectionism, with damning consequences for the world economy two years after the start of the global financial crisis.

The United States, striving to recover from its worst economic crisis in decades, locked horns anew with exporting giants China and Germany over a plan to rebalance skewed trade between deficit and surplus countries.