Carney’s mega anti-Trump alliance starts quest to save world trade (www.politico.eu)

submitted 10 hours ago by RandAlThor@lemmy.ca to c/canada@lemmy.ca

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[-] RandAlThor@lemmy.ca 4 points 5 hours ago

China is building its own axis with China at its center, with ambition to rival and take over from the US as the world's only super power. India is in the BRIC block very friendly with Russia, led by a right wing Hindu nationalist party. They got their own blocks.

[-] AGM@lemmy.ca 2 points 5 hours ago

I don't have any issue with CPTPP-EU working on trade law for the CPTPP-EU as a bloc. It's the framing of this group as fit to set world trade law I'm taking issue with.

[-] RandAlThor@lemmy.ca 4 points 3 hours ago

I think you're missing the tenet of the intent. China is building a China-centric trading eco system. They want what US has. The rest of the world subsidizing them while they control the world trade and financial system. This new block is trying to be counter-weight in negotiating a better WTO against China and the US. The picture you're missing is that the post-WWII order established by non-communist countries are geared to favor the US and the West. But now that US is breaking the old understanding where that advantage was shared with junior partners, they are finding themselves at a disadvantage. That's why Carney is smartly trying to organize the junior partners of US to form a block, to not only revive WTO, but to create a better one.

[-] AGM@lemmy.ca 1 points 2 hours ago

I'm not missing that. My point is contextualizing the group as they try to push for reform, or potentially move to build a new order. It makes sense for them to do, but in the context of the history of the WTO/GATT and Bretton Woods institutions and why we've reached this breakdown, it's important to recognize what the group is: a contingent of Global North countries representing a very small percentage of the world population and with ongoing high levels of dependence on the US.

[-] FreeBooteR69@lemmy.ca 2 points 1 hour ago* (last edited 1 hour ago)

This is more about middle powers versus hegemons and hyperscalers. We don't have the leverage as individual nations on our own, an alliance of middle powers does when it comes to international trade and security negotiation.