This post Three Hidden Subplots of the G20 Hamburg Summit appeared first on Daily Reckoning.
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The Group of Twenty, known as G20, is an unaccountable and powerful organization that is the closest thing on earth to a true world government. German Chancellor Angela Merkel, the rotating President of the G20, will host the next G20 meeting in the city of Hamburg, on the mouth of the Elbe River near the North Sea Coast.
G20 refers to its twenty member countries. They are a mixture of what were once the world’s seven largest economies, known as the G7, consisting of the United States, Canada, France, Germany, the UK, Italy and Japan, and some fast-growing, newly emerging economies such as Brazil, China, South Korea, Mexico, India and Indonesia. Other countries such as Russia and Saudi Arabia are included because of their natural resources or for reasons of geopolitics.
The G20 operates at many levels. Several times each year their finance ministers and central bank heads meet to discuss technical issues and try to reach consensus on specific goals. The most important meetings, however, are the leaders’ summits, attended by presidents, prime ministers and kings, which meet periodically to discuss global financial issues.
It is at these leaders’ summits, both in the formal sessions and informally on the sidelines, that the actual deals shaping the global financial system are made.
In recent years, G20 summits have focused less on financial crises and more on the one world agenda of the global elite. This elite agenda includes world taxation, climate change, terrorism, anti-money laundering and other aspects of globalized governance.
Today, financial risk is once again coming to the fore as global growth continues to slow. Nationalist leaders such as Donald Trump, Vladimir Putin, and Theresa May have emerged to challenge the globalist agenda. This puts more stress on the cohesiveness of the G20 process.
Above is the “class picture” of global leaders from the G20 summit in Hangzhou, China, September 4-5, 2016. Xi and Merkel appear front row, center in this photograph. Christine Lagarde, Managing Director of the IMF appears in the back row.
Financial risk, anti-globalism, immigration, and threats from terrorism will be on full display at this next G20 leaders’ summit. There will also be three key sub-plots happening off the main stage to watch closely.
The most important of these private meetings involve Trump and Putin, Macron and Merkel, and the BRICS.
The United States and Russia
By far, the most important encounter at the Hamburg G20 Summit will be the first face-to-face meeting between Donald Trump and Vladimir Putin.
Despite the avalanche of allegations of “collusion” between Trump and Putin to rig the 2016 U.S. presidential election (an allegation for which there is zero …read more
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