Socialist Worker

World leaders trade hot air as a new economic crisis looms

Issue No. 2430

World leaders meet at the G20 in Brisbane

World leaders meet at the G20 in Brisbane (Pic: Flickr/number10gov)

World leaders shook hands a lot last week, with the G20 summit in Brisbane, Australia, and the Asia Pacific Economic Cooperation (Apec) conference in Beijing, China.

But the much-hyped deal will allow the world’s biggest polluting countries—the US and China—to increase their combined greenhouse emissions by about a third by 2030.

The non-binding agreement doesn’t commit to any action now, and only inadequate action later.

G20 leaders said they’d grow their economies by 2.1 percent and create jobs, especially for women. But they didn’t say how. 

David Cameron pledged to put “rocket boosters” under the troubled TTIP trade deal between the US and European Union.

Meanwhile, the US and China pushed different plans for trade zones in Asia and the Pacific region.

But this was all overshadowed by gathering doom about the world economy and inter-imperialist rivalries in Ukraine and the south China sea. 

Various Western leaders tried to look tough next to Russian president Vladimir Putin. 

Putin tried to look tougher still by walking out of the G20 summit early.

Yet both sides are worried about the effect of the Ukraine sanctions war, as neither Russia nor the eurozone are far from recession.

Click here to subscribe to our daily morning email newsletter 'Breakfast in red'

Article information

Tue 18 Nov 2014, 17:16 GMT
Issue No. 2430
Share this article


Mobile users! Don't forget to add Socialist Worker to your home screen.