vegassports-odds.com
vegassports-odds.com July 25, 2017


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

20 March 2017, 05:53 | Melvin Schneider

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

German Finance Minister Wolfgang Schaeuble attends a press conference after the G20 Finance Ministers and Central Bank Governors Meeting in Baden-Baden southern Germany

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.

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.

Swamp Thing Co-Creator and Artist Bernie Wrightson Had Died
Additionally, if you've seen the fantastic 1981 animated film Heavy Metal, then you might remember the "Captain Sternn" segment. He left DC three years later to start a career in horror art, becoming known for his vivid takes on scenes from tales by H.P.

South Supreme Airlines Aircraft Crashes in South Sudan
Details are slowly emerging of some passengers being pulled out alive from the wreckage. The plane was flying from the capital, Juba to Wau in South Sudan.

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

In BJP's UP, BSP leader Mohammad Shami shot dead in Allahabad
Mohammad Shami had recently joined Bahujan Samaj Party (BSP) after leaving Samajwadi Party (SP), where he served for 20 years. Police officials have said that different teams of the crime branch have been set on investigating the case.

AC Milan could be forced to pay for Juventus stadium damages
Juve weren't to be denied for long, however, opening the scoring via an unlikely source in Benatia. Milan were down to 10 men by that time after José Sosa was sent off for a vicious sliding tackle.

Bundesliga Report: Bayern Munich v Eintracht Frankfurt 11 March 2017
Lewandowski scored his 33rd goal this season - his 21st in the league - when he slotted home from a tight angle after the break. However, the score remained 3-0 as the referee brought a close to the second-half proceedings.

How Donald Trump's budget would affect public education in Colorado
It would also eliminate climate change research and worldwide climate change programs. Thankfully, the radical steps in Trump's budget likely won't be realized.