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Cake day: June 9th, 2023

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  • I think you’re missing the tenet of the intent. China is building a China-centric trading eco system. They want what US has. The rest of the world subsidizing them while they control the world trade and financial system. This new block is trying to be counter-weight in negotiating a better WTO against China and the US. The picture you’re missing is that the post-WWII order established by non-communist countries are geared to favor the US and the West. But now that US is breaking the old understanding where that advantage was shared with junior partners, they are finding themselves at a disadvantage. That’s why Carney is smartly trying to organize the junior partners of US to form a block, to not only revive WTO, but to create a better one.