1) we’re all spenders now: the economics were perhaps the least remarked upon bit of the summit but perhaps the most remarkable. The consensus in the West now is that spending and stimulus should continue and is necessary. There is no major...
...2009 style split between N America and Europe about fiscal or monetary policy. Remarkable turnaround from only a decade, only five or so years ago. All eyes now on inflation numbers but Biden believes that greater spending is necessary not only to arrest domestic economic...
...decline but also to address Western strategic imbalances with China.
2) The West has a leader again: There can be no doubt after this summit that the West, to a greater or lesser extent, has a leader again. Biden wants to fill those shoes in a way Trump did not, in some...
This is presumably one of the reasons why Theresa May said no British prime minister could never countenance such an arrangement and indeed why Boris Johnson at one time said much the same.
Clearly flexibility on both sides is going to be required but some already saying this is precisely the opposite tone of what’s needed to resolve this.
Important subtext to this year’s G7-it’s Angela Merkel’s last. Here is her first in 2006. Leaders include Blair, Prodi, Chirac, Koizumi, Bush, all passed into history. She’s outlasted them all and indeed, in most cases their successors’ successors.
She has not outlasted Putin who was also in attendance, indeed the host in 2005- it was the G8 at that time. But then he doesn’t really have the petty encumbrance of democracy to worry about.
Important subtext flowing from this subtext, with Merkel gone and save for Baerbock emerging as Chancellor after the German elections seems likely that when the G7 next meets it’ll be an all boys club again in terms of elected leaders. Hasn’t been all men since 2005.
Sigh. Hancock repeats the claim that the NAO has said there was no national shortage of PPE. Have been through this before. Yes the NAO said that NHS providers said they could get what they needed. They also said that that being the case front line workers reported shortages.