Independent UK: Cameron warns of risk of new Great Depression

[marmar]

The world could slide into a 1930s-style depression, David Cameron has claimed, as the G20 summit struggled to find common ground on the best way to boost the global economy.

British officials played down the prospect of a resolution of the escalating dispute between China and the US over the value of their currencies.

The leaders, meeting in the South Korean capital, Seoul, are finding it difficult to recapture the spirit of unity which was achieved at the London summit 19 months ago, at which they agreed a $1trillion (£625bn) stimulus package for the world economy.

Speaking ahead of the detailed negotiations overnight, Mr Cameron warned of disaster if disputes over currency levels – vital for making nations' exports competitive – meant that the world's major economies looked inwards. ..........(more)

The complete piece is at: http://www.independent.co.uk/news/world/politics/cameron-warns-of-risk-of-new-great-depression-2131891.html