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G7 Success — leaders issue statement 2% of usual length — and climate sidelined

Posted By Jo Nova On August 28, 2019 @ 5:00 am In Global Warming | Comments Disabled

Winning:   The ABC news implied the G7 didn’t achieve much and was a bit of a flop with leaders “unable to overcome their differences…” and signing only a one page form. But for the rest of the world, the G7 was a big success  — there were no long pledges to lead the world in weather changing voodoo. Climate was sidelined.

Plus the 2019 G7 leaders statement was 54 times smaller than the last G7 leaders statement.

Varney: Trump ‘dominated’ the G-7 summit ‘like no other president has done in years’

Stuart Varney, Staff, Fox News

“No matter what you read and hear from the media, this G-7 was all about Trump re-aligning the world — reshaping the world economy with America’s interests first and foremost,” said Varney on Fox Nation’s “My Take.”

“Trade was the headline issue … A deal with Japan – they will import a lot more of our agricultural product. Britain gets a major trade deal after Brexit, and there’s dialogue with Germany on car tariffs as well, but the most important – China,” stressed Varney.

After President Trump’s news conference, at the conclusion of the summit on Monday, CNN’s Jim Acosta said, ”I think perhaps one of the biggest headlines coming out of this press conference that we just witnessed here in France is that the President would not be pinned down on this question of climate change.”

Good governance means less government:

Peter Baker @peterbakernyt

TWEET: Peter Baker, Chief White House Correspondent for The New York Times and MSNBC analyst.

With all the differences with Trump, the G7 leaders ended up releasing a largely general one-page statement that added up to 264 words. The last joint statement under Obama in 2016 was 14,263 words

That’s a 98% reduction in word pain.

Speaking of that Trade War

The Z-Man points out that China is much more vulnerable

China is selling cheap labor which is available in so many other places:

China is not selling the world anything the world does not have or cannot make. What China is selling is a safe haven to avoid the labor, tax and environmental laws that exist in the West.

U.S. imports from China totaled $539.5 billion in 2018. U.S. exports were $179.3 billion. … the U.S. market is about 5% of the Chinese economy, assuming the fake Chinese economic numbers are even close to reality, which is surely not the case. The Chinese market is less than one percent of the U.S. economy in 2018.

Right away, the relationship between China is the U.S. is not an equal one, in terms of dollars, but also in terms of impact. Then there is the nature of trade between the two countries. Almost all of the U.S. exports to China in 2018 were aircraft parts, electronic components and car parts. In many cases, these are either high precision items the Chinese cannot produce or they have intellectual property that the Chinese will try to steal, so they are made in the U. S. and sent to China.

This is why Trump is playing hardball. He believes he has far less to lose than the Chinese in a trade war. Even if all trade with China comes to an end, the cost to the U.S. economy is not going to be devastating. In fact, it will be hardly noticed.

h/t Pat

 

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