Breakfast Buffet, Thursday, April 2

April 2, aaaaand we're back to reality. Here's Newsweek's daily serving of news and views from around the world, G20-style.

Let the Games Begin!: Starting off with a mea culpa press conference wasn't enough to get Obama off the hook. Resistance to U.S. plans is coming in from all directions, but especially from a newly chummy France and Germany, who are calling for regulatory overhaul. As the WSJ put it, Obama had an easier time with former Cold War combatants than he's having with his allies. Their best bet for consensus is on tax havens. Yikes.

G20's Dirty Little Secret: No, seriously, it gets worse. FT's wicked smart Gillian Tett writes that the G20 big dogs are (shock!) failing to address the crisis-causing elephant in the room: toxic assets. As she quotes one anonymous "senior global policy official" griping: "The Americans are hiding behind stimulus and the Europeans are hiding behind regulatory reform. But that misses the real issue."

Forking It Over: The IFC, the World Bank's private sector arm, is coughing up $5 billion for banks that finance trade in developing countries, hoping their move will inspire altruism among the other reps at the G20 summit.

A New Chinamerica: Last week, we linked to Brad Setser's RIP post for Chinamerica. This week, we bring you an alternative view from PostGlobal's John Pomfret, who sees Obama and Hu positioning themselves as the twin saviors of the global economy. Perhaps it's the end of a beautiful friendship, but just the beginning of love.

Avoiding Another 'Trillion-Dollar War': Hark! The U.S. government has a plan to contain Iran, keep the Middle East stable, and keep costs in check. Sound too good to be true? It should, because it involves selling lots of military hardware to these guys. David Axe thinks through the long-term costs and benefits.

Breakfast Buffet, Thursday, April 2 | News