vegassports-odds.com
vegassports-odds.com March 23, 2017


Not worth the trade-off? G20 wavers in its stance against protectionism

20 March 2017, 05:53 | Melvin Schneider

G-20 ministers fail to get Washington on board

G-20 Summit 2017: US Succesfully Pushes Against Anti-Protectionist Pledge At Finance Ministers' Meeting

The world's top economic powers dropped a pledge to oppose trade protectionism amid pushback from the Trump administration, which wants trade to more clearly benefit American companies and workers.

In the new U.S. administration's biggest clash yet with the worldwide community, G20 finance chiefs also removed from their statement a pledge to finance the fight against climate change, an anticipated outcome after U.S. President Donald Trump called global warming a "hoax".

In the final communique, the ministers agreed only to "work to strengthen the contribution of trade to our economies" - breaking the long-standing practice of affirming free trade and open markets.

This was something of a defeat for the German hosts but more significantly a marker of where the world's top economy now stands under the Donald Trump administration.

It is also a sad day for environmentalists, as the fight to control climate change can stifle without the support of G20 countries.

"How will the United States protectionism affect the U.S. companies' overseas businesses and how much value would it shred from the USA stocks' value, if any?"

"I can not overstate the importance of avoiding any rollback on this", he said, adding he hopes the G-20 leaders' summit in July produces a stronger commitment against protectionism."I hope, and I think we need it".

But the Baden Baden meeting established Mnuchin as a pragmatic operator in the Trump administration's drive for a more level playing field on trade, said Domenico Lombardi, another former IMF official now with the Centre for International Governance Innovation, a Canadian think-tank.

Texas Gas Prices for March 12-18
Benchmark Brent crude futures were down 60 cents at $51.16 a barrel this morning in trading on the New York Mercantile Exchange. A year ago this week, prices in Rockford were below the $2.00 mark, at $1.97.

Japan PM to visit Russian Federation for summit with Putin next month
In November, land-to-air missile systems were deployed on Etorofu and Kunashiri, the largest of the four islands. Meetings were shelved after that due to the crisis in Ukraine, as Japan joined sanctions against Moscow.

Why won't Browns take a chance on Colin Kaepernick?
The Mercury News also reported Kaepernick is spending the offseason training in NY and continuing to engage in social activism. It makes sense on multiple fronts that Lee would campaign the New York Jets to take on Kaepernick.

Since taking office, he has withdrawn the USA from a trans-Pacific free trade pact and attacked export giants China and Germany over their massive trade surplus.

China's central bank governor Zhou Xiaochuan, on the same day, said the BRICS should further step up cooperation under the framework of the Group of Twenty (G20), especially in fields of global financial architecture, inclusive finance and green finance.

French Finance Minister Michel Sapin said in a news conference that "there wasn't a G-20 disagreement, there was disagreement within the G-20 between a country and all the others". "But it wasn't clear what one or another meant by that", he said.

"To the extent the agreements are old agreements and need to be renegotiated, we'll consider that as well".

U.S Treasury Secretary Steven Mnuchin dismissed the previous communiqué as possibly irrelevant for the current global economic climate.

The most immediate problem for the rest of the G20 is that they head into the summit of leaders, in Hamburg in July, with tremendous uncertainty over whether they can bring the U.S. into the fold.

Germany's largest lender said it would price the 687.5m new shares at €11.65 for a 35% discount from last week's close price.



Other News

Trending Now

McDonald's India delivery app 'leaks user data'
The leak is not said to have impacted data of customers in North and East of India as they use another app and website. For now, the fault appears localised to users in India, where McDonalds has millions of regular customers.

Sony Xperia L1 With 5.5-inch Display, 13-Megapixel Rear Camera Launched
The smartphone looks quite similar to other Xperia handsets, which can be either a good or a bad thing depending on who you ask. There is also 3x Clear Image Zoom, but we don't really have high expectations from it as far as actual usability is concerned.

Allegedly detained at JFK: Former GPD Chief Aden
The customs agent told Aden his "name was used as an alias by someone on some watch list". After complaining, Aden was told that he was not being detained.

Armenia placed 121st in new World Happiness Report
According to the report, "the average ladder scores for over four in five African countries are below the mid-point of the scale". Ranked fourth in each of the last two years and second in 2013, Norway has leaped to the top of the social happiness list.