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Is the Trump Administration shrinking America's global influence? If so, how is this going to affect us in the long run?
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DUBAI — The Madinat Jumeirah is as good a place as any for a gathering of the globalists. A sprawling resort that resembles a 12th-century Middle Eastern fortress, crisscrossed by picturesque canals and bordered by two kilometers of private Persian Gulf beachfront, it feels almost too opulent to be real.
Early this week, the Madinat played host to the World Government Summit, an annual conference put on by the government of the United Arab Emirates. There was a lot of earnest policy discussions on topics from artificial intelligence to pandemics, but the most striking thing was the broader, if often only implied, subtext to the entire three-day event: the collapse of America’s global influence under President Trump.
The summit is supposed to be a forum for discussing big-picture issues like trade and artificial intelligence. It’s also an excuse for a lot of really famous and important people to get together — think Davos, but with better weather. Attendees included everyone from Indian Prime Minister Narendra Modi to the head of the World Bank to Neil deGrasse Tyson to Arianna Huffington (the UAE paid for my travel costs, as it did for other journalists covering the event).
In what one analyst dubbed a “diplomatic disaster” for the U.S., Britain became the first major European ally to sign on as a founding member of the Shanghai-based investment bank, joined quickly by France, Germany and Italy, which dismissed public and private warnings from the U.S. about the bank’s potential impact on global lending standards and the competition it could provide to existing institutions such as the U.S.-dominated World Bank.
Luxembourg, a major global financial center, revealed this week that it would sign up. China also is also wooing Australia and South Korea, two of America’s closest Asian allies, to join before the March 31 deadline. A South Korean wire service reported Wednesday that Seoul was “seriously considering” the offer.
The reason for the stampede is clear: China’s market and its huge hoard of cash to invest override any concerns voiced by the U.S. Treasury Department and State Department over Beijing’s half-ownership stake in the bank.
The US government at the time used every leverage (short of threats of embargo or war) to pressure its trade partners against joining the Asian Infrastructure Investment Bank, only to be snubbed by its closest allies, the UK and much of Western Europe. By any measure an extremely humiliating episode for the Obama administration. Hence the scant reporting of it compared to its significance.
As China expands all over the world, most of those elites will come begging for the US to help them as they learn from experience the Chinese are even more ruthless and greedy than Americans!
Glad the US taxpayer isn't stuck with a bill to pay for a delegation or to give out more money from the taxpayers till at a conference like this. So happy with our current President!
As China expands all over the world, most of those elites will come begging for the US to help them as they learn from experience the Chinese are even more ruthless and greedy than Americans!
Pray tell then, why do you support a President who is making China stronger and America weaker?
I’m glad to see this. I don’t think our government should take part in these global gatherings. We should deal with individual countries on a one-on-one basis. The only exception would be in times of war when we could be a part of a coalition.
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