Hey Brazil, blame China on the currency crisis

Don't blame us. This is NOT an issue of U.S. economic imperialism.

Criticize China for not upvaluing the yuan; don't criticize the U.S. for depreciating the dollar. That said, here's where U.S. diplomacy needs to separate China from the other BRIC nations (and yet others, like Thailand, mentioned in the article).

Meanwhile, good luck to the G-20 in resolving this. Oh, and way to show "leadership," Brazil, by refusing to participate in key talks this weekend.

That said, the U.S. is still trying to peel Brazil away from China:

An anonymous U.S. official avoided criticizing Brazil, noting that Brazil had resisted political pressure to keep its currency, the real, from rising. “The Brazilians have really framed the debate that we need to have at the G-20,” the official said. Brazil and India, the official said, are “among these countries that have the greatest to gain” from the G-20 process because a surge of foreign capital has threatened the stability of their fast-growing economies.

The real issue is that the G-20 is even more toothless than the G-8. It's like the U.N. General Assembly vs. the U.N. Security Council.