G20 agreement backs 'rules-based' order but bows to Trump on trade reforms
Source: The Guardian
Sherpas from the European Union and 19 countries worked through the week to salvage a meaningful joint statement, culminating in an all-night session on Friday. While the joint text retains some basic principles on trade and global governance, it has no more than a passing mention of problems of migration and refugees and reflects no progress on climate change from last year’s summit in Hamburg.
As in Hamburg, one paragraph in the compromise reflects the US sceptical view, and another – acknowledging the seriousness of the threat and the need for concerted effort to combat it – reflects the views of all the other G20 leaders.
...
The US delegation had opposed the positive reference to a “rules-based international order” as they argued the current system, governed by the WTO and IMF, is skewed against the US and has allowed China to get away with unfair trading practices. For the same reason, the US opposed references to the threat of protectionism to global growth, insisting that Trump’s use of tariffs is a legitimate response to a skewed playing field.
...
“International trade and investment are important engines of growth, productivity, innovation, job creation and development,” the communique says. “We recognise the contribution that the multilateral trading system has made to that end. The system is currently falling short of its objectives and there is room for improvement.”
Read more: https://www.theguardian.com/world/2018/dec/01/g20-leaders-donald-trump-rules-based-order-wto-reform
Basically, Trump and Bolton threw a temper tantrum, and hate the idea of having to sitck to "rules". And they have been told by their paymasters to trash climate science at any moment they can.
The article notes that Trump could still throw a wobbly in his meeting with Xi this evening and screw everything up.
= new reply since forum marked as read
