Global trade war get­ting more se­vere

Daily Sabah (Turkey) - - Money - Kerem Alkın

The storm caused by U.S. Pres­i­dent Don­ald Trump’s so­cial me­dia mes­sages rages on. Last Tues­day, Trump, who stated he found it right for French Pres­i­dent Em­manuel Macron to step back on the fuel hike, and in the same message blurted out that the French were not obliged to pay the price of global en­vi­ron­men­tal pol­lu­tion caused by other coun­tries through fuel prices. In the fol­low­ing message, even though he de­manded clean air and wa­ter for the U.S. by point­ing out that U.S. tax­pay­ers and work­ers do not have to pay for the pol­lu­tion of other coun­tries, he ac­tu­ally stated that he does not want the price of 1 gal­lon (4 liters) of gaso­line in the U.S. to reach $3. In ad­di­tion to this, on Wed­nes­day, he said that he hoped the Or­gan­i­sa­tion of the Petroleum Ex­port­ing Coun­tries (OPEC) would not in­crease oil prices and that the world does not want to see a high oil price.

The anal­y­sis of the elec­tions over the last 45 years shows that ev­ery price hike of gaso­line that dis­turbs U.S. cit­i­zens leads to the pres­i­dent and party in the White House los­ing elec­tions. This is why Trump is both­ered by both Saudi Crown Prince Mo­hammed bin Sal­man’s (MBS), with whom he cur­rently has ten­sion due to the Ja­mal Khashoggi mur­der, steps to­ward in­creas­ing the oil prices, and Rus­sian Pres­i­dent Putin’s sup­port for MBS. In­deed, let’s note that he got a hard re­ply from Rus­sian En­ergy Minister Alexan­der No­vak on Thurs­day who said, “Meetings will not be di­rected by political state­ments via Twit­ter.”

The first of the last three in­ci­dents is that Trump, de­spite hav­ing an­nounced a 90-day cease-fire for the “trade war” with Chi­nese Pres­i­dent Xi Jin­ping at the G20 sum­mit in Ar­gentina, said they were de­ter­mined to “over­throw the car” on Wed­nes­day, Nov. 5 by send­ing six hefty so­cial me­dia mes­sages. The sec­ond event is the news that Meng Wan­zou, the daugh­ter of Huawei’s founder Ren Zhengfei and the com­pany’s CFO, was ar­rested in Canada fol­low­ing al­le­ga­tions that the U.S. em­bargo on Iran was dis­rupted, and Trump’s mes­sages on the siu­a­tion.

The last el­e­ment is Euro­pean Com­mis­sion Vice Pres­i­dent Dom­brovskis’ state­ment that they are ac­cel­er­at­ing their ef­forts to­ward us­ing euro to price global prod­ucts of en­ergy, raw ma­te­ri­als, agri­cul­tural prod­ucts, com­modi­ties and air­craft pro­duc­tion. The trade war’s fever is go­ing up and it is get­ting more se­vere.


The re­cent G20 lead­ers’ sum­mit hosted by Ar­gentina did not pass the test for “hu­man val­ues.” MBS’s, who was heav­ily im­pli­cated in the mur­der of Khashoggi, par­tic­i­pa­tion in the meeting and the fact that some lead­ers in­ter­acted with him caused a great deal of dis­con­tent on a global scale - es­pe­cially Rus­sian Pres­i­dent Vladimir Putin’s very warm greet­ing of the crown prince at the be­gin­ning of the sum­mit, which took Rus­sian jour­nal­ists by sur­prise. The meeting of Xi and the Prime Minister of In­dia, Naren­dra Modi, were also found to be strange. French Pres­i­dent Em­manuel Macron’s warn­ings to MBS dur­ing their on-the-run con­ver­sa­tion and the crown prince’s re­sponse also aroused cu­rios­ity. The trans­for­ma­tion of the G20 platform into an op­er­a­tion to re­cover the Saudi crown prince’s “re­spectabil­ity” due to the “col­lec­tive hypocrisy” of some politi­cians and for the sake of oil and eco­nomic in­ter­ests, on the other hand, un­der­mined the rep­u­ta­tion of the G20 platform.

At the Foun­da­tion for Political, Eco­nomic and So­cial Re­search (SETA), dur­ing a panel where we put the suc­cesses and frus­tra­tions of the G20 on the ta­ble - un­der the mod­er­a­tion of Dr. Şerif Dilek and with pro­fes­sor Çağrı Erhan and as­so­ciate Dr. Nu­rul­lah Gür - Çağrı Erhan re­minded the au­di­ence that if the G20 is not given a sec­re­tar­iat based in Tur­key, Istanbul, the big­gest dis­ap­point­ment would oc­cur with the global so­lu­tions the lead­ers agreed on dur­ing the G20 sum­mit be­com­ing ob­so­lete. The weight of Pres­i­dent Re­cep Tayyip Er­doğan’s “civ­i­liza­tion diplo­macy,” demon­strated with his lead­er­ship and vi­sion, has ren­dered him the leader that had the deep­est and the most num­ber of talks with his coun­ter­parts dur­ing the sum­mit.

Un­doubt­edly, the mean­ing of Ar­gentina’s - the most dis­turbed coun­try from the cap­i­tal­ist sys­tem’s wild wheels and the “global in­ter­est clamp” - ad­di­tion of not only “sus­tain­able” but “fair” devel­op­ment to this year’s lead­ers’ sum­mit was also ex­am­ined. Dur­ing the sum­mit, the ex­tent of the street in­ci­dents of the “yellow vests,” pri­mar­ily in France, and in Bel­gium and the Nether­lands, was also high on the agenda.

West­ern Europe - which re­mained silent to the op­er­a­tion of dis­sem­i­nat­ing the post-cap­i­tal­ist and ne­olib­eral move­ment started in 2000 in Ser­bia with the “bull­dozer rev­o­lu­tion” is now car­ried out through Ge­orge Soros’ Open So­ci­ety Foun­da­tion un­der the con­trol of the U.S.-based gov­ern­ment-pri­vate sec­tor-non­govern­men­tal or­ga­ni­za­tion (NGO) tri­an­gle in Cen­tral and Eastern Europe, the Cau­ca­sus and the cen­tral Asian Tur­kic re­publics for the ben­e­fit of the U.S., as France men­tioned the words “Euro­pean Army” - has wit­nessed that the op­er­a­tions they kept still about came right back to them like a boomerang. Fol­low closely the strong re­ac­tion against the “Soros” op­er­a­tion, which de­cided to with­draw due to its com­plete un­cov­er­ing in Tur­key, Ukraine, Hun­gary and Mace­do­nia; and let’s grasp again what Tur­key has suc­ceeded with un­der Er­doğan’s lead­er­ship.

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