G20 Summit

The World Shifts

New partnerships are forming in the global community. Source: Reuters [M]

There was no Magna Charta signed in Hamburg. In a world filled with unrest and disparate economic interests, no one expected grand deals.

But even the mini-compromises achieved in free trade and climate change appeared shaky.

The German chancellor didn’t fall in line behind the US president. In the final communiqué, Angela Merkel tended to muddle through all the contentious issues in her usual manner. The prime objective of the summit’s host was a joint declaration that all could gather behind.

So there was a firm commitment to free trade and to combating protectionism, but there was also a mention of “the role of legitimate trade defense instruments,” meaning anybody can do what they think right.

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