G7 courting of supply chain partners a crack at new order

America and the west still going strong. Diversifying away from China is the right thing to do for national security.

I'm sorry, but it sounds more like the west is looking for more cheap labor, materials so they can continue the domination of the economy. If some poorer developing countries manage to make some money from it, good for them, but don't think for a minute this is about the west staying on top.

but don't think for a minute this is about the west staying on top.

Soooo, it's either lol the west is struggling to stay on top or how could le ebil west use cheap labor? The only reason the west is finding itself so dependent on China is because China was so quick to sell its citizens as cheap labor.

@TaiwannotChinaChina is because China was so quick to sell its citizens as cheap labor.

And the US and 'west' were so quick to make their ruling caste even richer that they were willing to ignore and stiff their own fellow citizens and workers.

NIIGATA

The envisaged creation of a "mutually beneficial" partnership with developing nations for resilient supply ...

Finally ! It’s just dawned on these G7 countries ( The Global North) , most of whom were colonizers ( of the Global South) that we all need each other. The G7 ( GloNo) holds ALL the Capital, the “ others” ( GloSo) has the raw materials + Manpower.

The GloSo people are tired and not keen to keep an unbalanced relationship with the G7- their erstwhile colonizers . The G7 shouldn’t feign ignorance of having been bad stewards of power, and not understang why the GloSo is leaning towards Russia and China. Karma - The reckoning .

Exactly.

Trump started the decoupling from China, yet somehow for some folks he is the worst President ever. The Biden administration is merely following through on Trump’s policies with respect to China.

Good question, this decoupling, it's all done at corporate level in reality, not political.

President, you mentioned also STRONGLY encouraged EU to diversify its energy sources!

But MOST countries anxious to access China's markets, not decouple, and that would include Global South especially. It's worth noting China's political system and currency are both far more STABLE and far less DISRUPTIVE.

You want Yuan with 1% inflation, no crazy Central Banking $ printing, or other currencies and their MUCH higher inflation and money printing?

Real Problem for G-7 and Democracy relative to China, too unstable, too many potential changing special interests. Look at Energy? US while pursuing clean and green energy all century, new Admin declared War on fossil fuels and proceeded to dump oil, stockpiled for national emergencies on markets at historical level to suppress pricing Very unstable!

No surprise Mid-East and OPEC has turned to China 180 degrees since 2021, astonishing geopolitical reality and much of Global South doing the same for same reasons. Logical.

What's really happening with supply chains inside G-7 is movement to US, due to so called IRA, inflation reduction Act. Understand;

1) Europe's in chaos, very high inflation and shrinking GDP, huge investment flows for energy intensive industries to US now due to lack of energy security and supplies

2) Far East very RISKY - especially Semi-Conductors, again more inflow into US

Idea of G-7 supply chain partners, really its above, just US. Canada has no such tax incentives as IRA, Europe and Japan very challenged with energy security etc. Meanwhile, such investments can access markets of Canada and Mexico given NAFTA.

Big problem, G-7 economic growth terrible, based on Govt. high deficit spending & money printing, Corp. profits dropping, consumer pulling back, inflation historically high, terrible on relative basis vs. China growing at least 3x faster with less than 1% inflation.

Nobody in their Right Mind OUTSIDE G-7 wants to pick sides, rather they like G-7 having to compete with China based on merits, including ENTIRE Global South!

G7 waking up too late to the threats of China. It is still not fully awaken yet, so it will suffer more.

The GloSo people are tired and not keen to keep an unbalanced relationship with the G7- their erstwhile colonizers . The G7 shouldn’t feign ignorance of having been bad stewards of power, and not understang why the GloSo is leaning towards Russia and China. Karma - The reckoning .

If they are smart, they will realize that China is an exploiter like any other and Russia is only in it to sell weapons. Nothing karmic about it.