GOOD MORNING FROM LONDON #251 14 JUNE 2021
G7 SUMMIT
Much talk about Vaccines, Climate Change + the new one – The International Infrastructure Drive to rival China’s BRI. Can G7 deliver?
The G& vaccine promise to deliver almost 1bn doses sounds good but will take 18 months to deliver meaning many deaths to come + more virus strains to expand. China, in any event, will likely pledge + deliver greater vaccine quantities.
The G7 challenge to China’s BRI will be made with considerably less money – the G7 communique had words, not figures. Chinese banks are well ahead. And when it came to uniting v China, the words of US/Japan were clearly stronger than those of EU/UK.
On Climate Change the US/EU needs China co-operation. The West, again, was big on words with ambitious plans to close coal-fired power stations but light on detail. China’s plans for 2060 are widely known.
Trump has gone but lurks prominently in the shadows. Will he or Trump Mark II return in 2024? A very unsettling factor for the West.
There has been a change in the balance of power. Historians will soon be publishing treatises on The New World and The Rise of China. It is the Big New Factor. Things will not be the same again. And the issue remains Confrontation v Co-Operation or more realistically War v Peace. Unsettling times Ahead.
