Since the G7 club was created in 1975 during the Gerald Ford administration the world has undergone transformative changes from the days when the US, Germany, Britain, France, Italy, Canada and Japan were deemed then to be the most powerful national economies.
In a tacit admission of the changed global reality that's why there is the larger format of the G20 which in addition to the G7 includes China, India, Russia, Brazil, South Africa, South Korea, Turkey, Saudi Arabia, and others.
President Trump's trade war with China, the Europeans and the rest of the world is more akin to the 1930s practice of go-it-alone mercantilism and predatory capitalism.
We know how disastrous that turned out with global depression and world war.
Trump's reckless gung-ho "America First" policy is casting a dark cloud on the world economy from China's output slumping and Germany's exports plummeting.
Sure, if there were a genuine commitment to improve global economic outlook and uplift the wellbeing of ordinary people around the world then the leading nations should be working together in a collegiate planned fashion, and with as much outreach to others as possible.
It's a useless talking shop in an utterly changed world.
https://www.zerohedge.com/news/2019-08-23/g7-obsolete-useless-talking-shop
In a tacit admission of the changed global reality that's why there is the larger format of the G20 which in addition to the G7 includes China, India, Russia, Brazil, South Africa, South Korea, Turkey, Saudi Arabia, and others.
President Trump's trade war with China, the Europeans and the rest of the world is more akin to the 1930s practice of go-it-alone mercantilism and predatory capitalism.
We know how disastrous that turned out with global depression and world war.
Trump's reckless gung-ho "America First" policy is casting a dark cloud on the world economy from China's output slumping and Germany's exports plummeting.
Sure, if there were a genuine commitment to improve global economic outlook and uplift the wellbeing of ordinary people around the world then the leading nations should be working together in a collegiate planned fashion, and with as much outreach to others as possible.
It's a useless talking shop in an utterly changed world.
https://www.zerohedge.com/news/2019-08-23/g7-obsolete-useless-talking-shop
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