Anybody up for talking about what's going on, besides analyzing handshakes and cussing at the cops or the demonstrators?
G20
- Thread starter Tecumsehsbones
- Start date
Well, the EU just cut a trade deal with Japan that covers 30% of the global economy, and the U.S. was left out.
So, no, nothing I guess.
It's been a GREAT G20 ...the best ever! It's HUUGE, this time.
Of course, it would be better if those fukcing kraut cops would shake hands with the pansy demonstrators before they tear-gassed them.
LOL, you may not want to be in on the "tied at the waste"[sic] deals when Japanese and EU banks start hanging themselves from some bridges.
"Europe’s banks must be recapitalized
Europe has been postponing the recapitalisation of its banking sector. This column argues that it has been doing so for far too long. Without such a recapitalisation, the danger is that economic stagnation will continue for a long period, thereby putting Europe on a course towards Japanese-style inertia and the proliferation of zombie banks."
https://www.creditwritedowns.com/tag/stress-tests/
"Europe’s banks must be recapitalized
Europe has been postponing the recapitalisation of its banking sector. This column argues that it has been doing so for far too long. Without such a recapitalisation, the danger is that economic stagnation will continue for a long period, thereby putting Europe on a course towards Japanese-style inertia and the proliferation of zombie banks."
https://www.creditwritedowns.com/tag/stress-tests/
I think if it continues, it could force Canada to a fairly epic choice: go with the world or with the Trump States of America.
Like the situation the UK is in?
Canada depends on the world economy including the US economy. To force Canada to make a choice between the US and the rest of the world is to force it into an inextricable dilemma.
We already have almost all of our eggs in the American basket. If we are ever to break the habit of being someone's colony, we need to connect with the rest of the world.
With skill and patience, they could turn it into a "trilemma," the world, the T.S., or ride line and keep in with both.
I sincerely hope y'all pick Door #3, and have the skill to ride it long term.
G20: UK-US trade deal to happen quickly, says Trump
BBC News
8 June 2017
US President Donald Trump has said he expects a "powerful" trade deal with the UK to be completed "very quickly".
Speaking at the G20 summit in Hamburg, he said he would go to London. Asked when, he said: "We'll work that out".
The US president is holding talks with UK Prime Minister Theresa May to discuss a post-Brexit trade deal.
It is one of a series of one-to-one meetings with world leaders which will also see Mrs May hold trade talks with Japanese Prime Minister Shinzo Abe.
Ahead of their meeting, Mr Trump hailed the "very special relationship" he had developed with Mrs May.
"There is no country that could possibly be closer than our countries," he told reporters.
"We have been working on a trade deal which will be a very, very big deal, a very powerful deal, great for both countries and I think we will have that done very, very quickly."
The BBC's diplomatic correspondent James Robbins, in Hamburg, said this was exactly the sort of signal that the prime minister would have been looking for.
He said Mr Trump was known to have accepted an invitation to visit the UK - a prospect that caused huge controversy - but no clarity was given on when that might happen.
G20: UK-US trade deal to happen quickly, says Trump - BBC News
When will you realise that the EU is useless at getting trade deals?
Is the EU-Japan ‘trade deal’ real – or just a stunt?
Fraser Nelson
European Council President Donald Tusk and Japanese Prime Minister Shinzo Abe. Photo: JOHN THYS/AFP/Getty Images
Fraser Nelson
6 July 2017
The Spectator
There is much celebration in Brussels today about what’s being described as an EU-Japan trade deal, but for political rather than economic reasons. Donald Trump has arrived in Hamburg for the G20 summit where he finds himself cast as a wicked protectionist, at odds with a pro-free trade global order. To hammer home this point, the EU is claiming to have agreed a trade “deal” with Japan, with whom Mr Trump pulled out of talks when he abandoned Barack Obama’s Trans-Pacific Partnership. At this stage, Tokyo gave precedence to Brussels – and today’s, erm, political agreement is the result.
Donald Tusk, president of the European Council, is already trying to use this to taunt Trump. ‘Some are saying the time of isolationism and disintegration is coming again,” he said, a clear reference to Trump. “We are demonstrating that this is not the case.’ For his part, Shinzo Abe has hailed ‘a major pillar in our economic growth under Abenomics’ – and ‘the birth of the world’s largest, free industrialised economic zone.’
But here’s the snag: there isn’t, actually, a deal. It’s an ‘outline,’ a ‘political’ agreement, the sort that is the basis for a deal – a staging post to a deal that may or may not be done in two years’ time. The EU has simply said that it is prepared, in principle, to lower the 10pc tariff slapped on Japanese cars, in exchange for being able to export food more easily. So it’s a cars-for-cheese agreement, the first stage towards a free trade deal. With plenty ground left to cover.
For example, there’s no agreement on…
- How to resolve trade disputes – a fairly major part of any trade deal. The EU wants a court system, Japan doesn’t.
- How to settle any complaint from foreign investors that their rights are being violated.
- What protection Abe would offer to Japanese producers of pork, wood and dairy products.
- The sale of illegal logging products.
- What kind of protection would be covered to Europe’s car manufacturing sector.
All this will take until 2019 and it then needs to be approved by all 28 (or, by that time, 27) member states. And then tariffs will likely stay in place for a further seven years – so even if all goes well we’re looking at about another ten years before it would come off.
So: an EU-Japan deal? Not yet, and not for some time yet. It’s essentially a progress report on talks, dressed up as a deal ahead of the G20 in an attempt to embarrass America. Ah the games, the games.
UPDATE: My thanks to Housuk Lee-Makiyama of ECIPE for pointing out the normal order of these things. A “political agreement” with Canada was declared in 2013 but the deal didn’t come for another three years – and, even then, almost floundered. With South Korea, the political agreement came a year before the deal.
https://blogs.spectator.co.uk/2017/07/eu-japan-trade-deal-real-just-stunt/
By the way, the EU can announce a trade deal with Japan (which doesn't comply with EU rules and practices) but cannot (according to the Remoaners) agree one with the UK (a bigger trading partner which does)?
Also, there's no mention of requiring Japan to pay any access fees for the Single Market or agree free movement or jurisdiction by the EU courts, nor any mention of shared access to Japanese fisheries.
It's a bit of a giveaway, isn't it? It tells us all we really need to know about our so called friends in the EU.
Trump isn't even a protectionist.
He just wants trade that's fair to america and not designed to destroy it for the benefit of globalization like the EU is undemocratically doing to the EU states.
Like the Obama (funded by soros, the british pound killer/Trump hater) american global bank bailouts, to be paid for by the tax payer, have done.
He just wants trade that's fair to america and not designed to destroy it for the benefit of globalization like the EU is undemocratically doing to the EU states.
Like the Obama (funded by soros, the british pound killer/Trump hater) american global bank bailouts, to be paid for by the tax payer, have done.
And the European Union is a bit hypocritical to criticise Trump for being "protectionist".
This from The Telegraph from way back in 2002:
THE European Union is the most protectionist trade bloc in the world and tops the "hypocrisy list" for blocking exports from poor and developing countries, according a report released by Oxfam International yesterday.
While the EU imposes fewer tariffs on Third Word products than the US, it uses a variety of other stealth barriers to protect its own industry.
Brussels specialises in "spurious" anti-dumping inquiries, taking advantage of a clause in the World Trade Organisation rules that allows states to impose fines or extra duties on products for up to five years if there is a suspicion of anti-competitive practice.
Between 1995 and 2000 the EU launched 145 such inquiries against developing states, compared with 89 for the US, and zero for Japan - though the EU has since announced a moratorium against the very poorest states.
A former EU trade expert said the system was open to abuse. "It can be manipulated so easily. The victims of these cases are totally in the dark and can't see where blows are coming from. If they try getting redress from the European Court they're not going to get very far, because the Court always rules in favour of the Commission."
The report, Rigged Rules and Double Standards, claimed that non-tariff barriers raise the real average of EU barriers against poor countries from 5.1pc to nearer 9pc.
EU is 'most protectionist trade bloc in the world' - Telegraph