If money is power, China is now in a powerful position to play a critical role at the Group of 20 summit in London.
So powerful, in fact, that some analysts speak of a "G-2", referring to the first meeting between the new U.S. president and his Chinese counterpart on the sidelines of the G-20. What matters most in the G-20, some say, is Barack Obama and Hu Jintao's meeting on the eve of the summit. "This is a summit of symbolism, where the meeting itself is the message," said China analyst Victor Gao.
To be sure, the closest U.S. allies are Great Britain in Europe and Japan in Asia. But with its growing economic and military clout, China is now a major player at the G-20. Read full article »