A core group of the world's leading economies need to come together and hammer out an understanding.

How can the United States preserve its financial and security leadership role when it conducts itself with such ineptitude and such disregard for the consequences for the world?

If you step back and think about it, just a little over two years ago, in 2009, it was not surprising at all to see Chinese exports growing at a 30-plus percent clip.

We can no longer contemplate a world in which public or private sector funds are used to bail out or recapitalize failing firms.