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The world's top economies face deep divisions on the path to recovery as international leaders gather in South Korea for the G-20 summit.

Gone is the unity that marked the previous G-20 summits --- first held in November 2008 in the wake of the financial crisis --- as rancor over "currency wars" ratchet tensions among the United States, China, Europe and emerging economies.

U.S. momentum to pressure China on the value of its currency evaporated last week when the U.S. Federal Reserve announced it would pump $600 billion into the economy. The move, known as "QE2," will push down the value of the dollar as it pressures emerging economy currencies to rise, and has been criticized around the world.

"It's setting up to be one of the more interesting G-20s," said Kirby Daley, senior strategist for Newedge Group. "This time the U.S. has achieved something great; that is, basically turning the whole world against it. QE2 has sort of become the U.S.'s de facto foreign policy, because it's essentially affecting every country, every economy, in the world."

German Finance Minister Wolfgang Schäuble said at a conference last week that, "With all due respect, U.S. policy is clueless." He said the move undermined efforts by Washington and European leaders to persuade Beijing to allow the yuan to rise faster.

"The exchange rate dispute is the most counter-productive debate in the world. Appreciation does not work like magic wand," Li Daokui, an adviser to China's Central Bank, wrote in a CNN.com commentary. "It is like the captains of the two giant ships spending precious time arguing about the best techniques to steer the course and causing the ships eventually collide."

Divisions among G-20 countries are inevitable as the world moves slowly toward recovery, analysts said.

"In a way, the summits last year were a little bit easier in that there was a convergence of interests. The globe was on the brink of a meltdown, therefore the expectations and incentives of various leaders were aligned," said Domenico Lombardi, a senior fellow at the Brookings Institution.

"Now we are in a completely different situation, where the global economy has stabilized. But the recovery is still fragile, still uneven, so there are different attitudes about how to handle this," said Lombardi, of the Washington-based think tank.

The G-20 works better in a crisis, said John Kirton, co-director of the G-20 Research Group at the University of Toronto.

"The summits did a terrific job during the Great Recession. That's why Washington, London and Pittsburgh did well. The Toronto summit [in June] was galvanized by the Greece crisis," Kirton said.

"Now, at the moment, there is no similar crisis as acute," Kirton said. "It's back to a kind of business as usual and these diverse countries won't cooperate."

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Where have you been?

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You and your ilk want my money so you can live life as leeches, and I and millions say fuck you...get a job.

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