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Prime Minister May’s hard Brexit

Giancarlo Elia Valori

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The speech of the British Prime Minister, Theresa May, delivered on January 17 at Mansion House, foreshadows a new and more global Britain, but above all entails the end of the European Union as we know it today.

Thirty years after the speech delivered by Margaret Thatcher at Lancaster House in 1988, when the conservative Iron Lady accepted the European single market and the freedom of movement and trade within Europe, a new conservative Iron Lady states she is ready to leave the European Union and the European single market.

In the European Union, Great Britain has always experienced Germany’s marked hegemony that it has tried to control both by entering the European Union and then deciding to leave it, as it is currently doing.

Great Britain never wants hegemonic powers in its way: neither the EU nor the Franco-German Europe, nor even the possible EU of the South, with the alliance between Italy, Spain, Greece, the Balkans and Austria.

In fact, the documents of the Bank of England on the euro have always been very clear: we do not want the single currency because, as Great Britain, we are a global power and the only counterpart for the Commonwealth, and we do not accept a Mark disguised as European currency, namely the euro, which is the result of a pact – proposed by Margareth Thatcher herself – between those who did not want German reunification and Germany itself.

The core of the issue was as follows: Germany could be reunited but it had to give its currency as ransom.

At that time the Italian President of the Republic, Francesco Cossiga, was in very close contact with Margaret Thatcher, on the one hand, and Helmut Kohl on the other.

He carried out a strong and necessary mediation activity.

Hence, in his recent speech, Theresa May has made it clear that Great Britain wants back its full sovereignty on migration issues, which will be the axis of the future “engineering of nations” and the primary tool for controlling and managing the labour force, its complexion and cost. She also wants full sovereignty on customs – another essential factor in the relationship between Great Britain and the European Union.

Hence, following the traditional model of the Free Trade Agreement (FTA), May’s government will manage a series of trade agreements with the individual EU and non-EU countries. Obviously what will be missing in the Euro-British regulations will be richly offset by the new economic relations between Great Britain and its wide Commonwealth, as well as between Great Britain and Donald Trump’s United States.

Let us wonder, however, whether the United States still need the European Union – this is currently the real question.

In fact, only the US weight and clout did enable France and Germany to create the first pan-European institutions and only Great Britain did act as a strategic and economic counterbalance to ”Rhenish Europe”, the one that Charles De Gaulle defined as “the United States’ Trojan horse”.

Indeed, before the vote on Brexit, it was precisely Great Britain to strongly support the Transatlantic Trade and Investment Partnership (TTIP), which was designed as a geoeconomic alternative to the probable fragmentation and disruption of the European Union.

Hence Brexit has had a long-standing gestation and it will completely change the EU strategic and economic landscape.

It was worth recalling that it was Prime Minister Edward Heath to bring Great Britain into the European Common Market in 1973 – a choice reaffirmed by the outcome of the referendum held by Wilson two years later.

However, throughout the 1980s, the European integration process slowed down significantly and, therefore, in those years the City of London created wealth with its monetarist policies of high interest rates. This enabled the holders of UK government bonds to make excellent profit and also enabled the City to stabilize its rates without adhering to the European Exchange Rate Mechanism (ERM).

In 1986 Thatcher’s financial reforms established a close link between the City and the US financial system – a link which will obviously make Brexit even stronger.

However are the United States really interested in having a “Little Britain”, which will no longer be the trusted channel with the EU, or will they strengthen the traditional ties of the Anglosphere between Britain and the United States?

And what will be the geopolitical and financial link between one of the largest economic areas of the globe, namely he EU, and the United States, which cannot certainly afford to neglect Europe?

Certainly Donald Trump was clearly in favour of Brexit and, after taking office, he will be the first world leader to receive Theresa May at the White House on January 27th.

Moreover, it is well-known that President Trump does not like the European Union. He prefers to deal with the individual EU Member States, but this does not mean that Europe is not still decisive in the US strategic and economic framework.

Do the United States want to keep united and friendly a great commercial and political area, namely the EU, which acts as a rampart vis-à-vis the Russian Federation and the Arab and Islamic world, or do they want to deal only with its Member States, thus destroying the Union and paving the way for Chinese and Islamic capital?

We will soon see Donald trump’s proposals in this regard.

Moreover, the origin of the European Monetary Union lies exactly in its unusual and asymmetrical relationship with the United States: the slow creation of the single currency stems from the crisis of the Bretton Woods agreements, created specifically by the United States, by the strong exchange rate volatility in that phase and, above all, by the US refusal to restore a global monetary balance.

Only China and, in other respects, the Russian Federation are currently interested in redesigning, with the EU, a new international monetary and financial system which will be based on a basket of currencies at variable exchange rates in a predefined range.

Furthermore today Germany does no longer need a highly regulated economy, mediating between capital and labour, as was the case until 2000 and up to the financial crises of 2006 and 2009.

Hence Germany can further financialize its economy by lending euro to its periphery and hence maintaining extremely high trade surpluses, as currently happens, or can invest directly in the US system through the City.

The United States will always have a growing share of high-interest and short-term “toxic” assets.

Moreover, regardless of Brexit, the City’s trading and transactions with the United States and the European Union have decreased significantly.

London’s financial centre does not yet know whether to invest in the EU or elsewhere in the world, especially in China or in the BRICs and the British government’s participation in the new Asian Infrastructure Investment Bank proposed by China has created strong tensions with the United States. Said tensions will persist if the North American financial markets maintain their growth.

Another problem not to be overlooked is that neo-liberal policies, from Thatcher onwards, have deeply divided Great Britain socially and geographically.

In Great Britain the Gini coefficient, a statistical measure of social inequality, has risen from 0.26 in 1979 to the current 0.4.

The gap between the rich London and the South of the country and the increasingly poor North is particularly evident.

All this could lead to an inherent weakness of the British political system, irrespective of the party in power.

Moreover, as many commentators have noted, also Donald Trump’s election is a kind of Amexit: the US unilateral withdrawal from the post-Cold War global system, which had not been well negotiated and was based on the Russian and Chinese strategic void filled by an America which was becoming the only global power.

This is no longer the case – the United States are no longer the “indispensable nation”. With President Trump, the United States will no longer act as the world’s policeman and, in the North American decision-makers’ minds, Brexit means that the EU shall either break up or rebuild itself as a real Union.

Also NATO which, until Barack Obama’s Presidency, denied to Russia and China the right to their natural spheres of influence – often with suicidal intentions – will be a US (and British) direct instrument or an inter-European mechanism which, however, the EU Member States shall pay largely by themselves – and today’s Europe has certainly neither money nor strategic ideas.

Moreover, Theresa May’s Brexit is not yet well-defined within the British political scene: the Supreme Court’s ruling has forced the government to seek approval from Parliament before formally starting negotiations on Article 50 of the Lisbon Treaty. The Scottish National Party wants to remain in the EU and threatens to hold a second referendum on the separation between Scotland and England and it also wants to table over 50 new amendments to the law for Britain’s withdrawal from the EU according to Article 50 of the Lisbon Treaty.

The Labour Party itself wants to slow down the process of separation between Britain and the Union, although it will generally vote in favour of Brexit in Parliament.

The Tories have no majority in the House of Lords and the Bremain supporters could cause problems to Prime Minister May’s government.

Hence if – as currently everything leads us to think – President Trump manages the new relationship with Britain vigorously, the UK economy will be granted full and free access to the US financial and non-financial market, without forgetting that Prime Minister May wants better strategic and military cooperation with the United States, both for renewing the Trident missile system and for tackling the other matters relating to global intelligence.

As a result of Brexit and the consequent British full entry into the US economic and strategic sphere, the EU will be less effective also at military and intelligence levels.

Hence we will see what will happen on January 27 next, after Prime Minister May’s meeting with President Trump in Washington.

At technical and legal levels, the British Prime Minister intends to close the economic negotiations between her country and the EU Member States before the end of the procedure pursuant to Article 50 of the Lisbon Treaty, which also means she wants to avoid “cliff edge”, namely the tariff and economic cliff edge of spring 2019, the moment of real Brexit.

Not surprisingly, Prime Minister May talks about an “implementation phase” from now until 2019, before the end of negotiations with the EU on Article 50.

The political and strategic significance is very clear: Prime Minister May wants to stay on good terms with the EU area but, if Europeans want to “punish” Britain, London will become a centre for the trade, financial and political war against the European Union.

If the EU has a punitive attitude vis-à-vis the UK on Article 50, Britain will become a low-taxation and low- regulation economy; it will gradually acquire a large part of European industries and will wage a tariff and financial war against the EU and its Member States.

Not to mention the City’s finance, which will be directed against the euro area and will support any aggressive US dollar operation.

Or any aggressive operation of other countries, which will certainly come to the fore against an ever weaker Euro.

Currently the global economic trends are clear: increased uncertainty on global financial markets, which favours emerging economies and their countries of reference, such as Russia and China; reduced dependence of peripheral markets from those of the First World economies (the so-called decoupling) and the rise of China’s public debt.

Probably, the growth of public spending in the United States will add other crisis factors on the global scene, while we must not neglect the agreement between Russia and OPEC for reducing oil extraction and the related increase in oil barrel prices.

The EU may remain the old regional union of the Cold War and it will be bound to break up under the combined pressure of Brexit and Trump’s Presidency in the United States, or may become smart and hence start or extend negotiations with Israel, the non-EU Balkans’ area, South Korea and Singapore – obviously in addition to China and Russia – for a new Eurasian economic union.

Advisory Board Co-chair Honoris Causa Professor Giancarlo Elia Valori is an eminent Italian economist and businessman. He holds prestigious academic distinctions and national orders. Mr Valori has lectured on international affairs and economics at the world’s leading universities such as Peking University, the Hebrew University of Jerusalem and the Yeshiva University in New York. He currently chairs "La Centrale Finanziaria Generale Spa", he is also the honorary president of Huawei Italy, economic adviser to the Chinese giant HNA Group and member of the Ayan-Holding Board. In 1992 he was appointed Officier de la Légion d'Honneur de la République Francaise, with this motivation: "A man who can see across borders to understand the world” and in 2002 he received the title of "Honorable" of the Académie des Sciences de l'Institut de France

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EU-China Summit: Deepening the strategic global partnership

MD Staff

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The 20th Summit between the European Union and the People’s Republic of China held today in Beijing has underlined that this partnership has reached a new level of importance for our own citizens, for our respective neighbouring regions and for the international community more broadly.

President of the European Commission Jean-Claude Juncker and President of the European Council Donald Tusk represented the European Union at the Summit. The People’s Republic of China was represented by Premier Li Keqiang. European Commission Vice-President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, Trade Commissioner Cecilia Malmström, and Transport Commissioner Violeta Bulc also attended the Summit. President Tusk and President Juncker also met with the President of the People’s Republic of China, Xi Jinping.

“I have always been a strong believer in the potential of the EU-China partnership. And in today’s world that partnership is more important than ever before. Our cooperation simply makes sense”, said the President of the European Commission, Jean-Claude Juncker. “Europe is China’s largest trading partner and China is our second largest. The trade in goods between us is worth over €1.5 billion every single day. But we also know that we can do so much more. This is why it is so important that today we have made progress on the Comprehensive Agreement on Investment through a first exchange of offers on market access, and towards an agreement on Geographical Indications. That shows that we want to create more opportunities for people in China and in Europe.”

The Joint Summit Statement agreed by the European Union and China illustrates the breadth and depth of the EU-China relationship and the positive impact that such a partnership can have, in particular when it comes to addressing global and regional challenges such as climate change, common security threats, the promotion of multilateralism, and the promotion of open and fair trade. The Summit follows the High-level Strategic Dialogue, co-chaired by the EU High Representative for Foreign Affairs and Security Policy/Vice-President of the European Commission, Federica Mogherini and Chinese State Counsellor, Wang Yi, in Brussels on 1 June, and the High-level Economic and Trade Dialogue, co-chaired by Vice-President Katainen and Chinese Vice-Premier, Liu He, in Beijing on 25 June.

This 20th Summit demonstrates the many ways in which the European Union and China are concretely strengthening what is already a comprehensive relationship. In addition to the Joint Statement, a number of other concrete deliverables were agreed, including:

Working together for a more sustainable planet

In the Leaders’ statement on climate change and clean energy, the European Union and China have committed to step up their cooperation towards low greenhouse gas emission economies and the implementation of the 2015 Paris Agreement on climate change. In doing so, the EU and China will intensify their political, technical, economic and scientific cooperation on climate change and clean energy.

Welcoming this commitment, President Juncker said: “We have underlined our joint, strong determination to fight climate change and demonstrate global leadership. It shows our commitment to multilateralism and recognises that climate change is a global challenge affecting all countries on earth. There is no time for us to sit back and watch passively. Now is the time for decisive action.”

Vice-President Katainen and the Chairman of the National Development and Reform Commission, He Lifeng,also signed the Memorandum of Understanding to Enhance Cooperation on Emissions Trading, which acknowledges the significant potential of emissions trading to contribute to a low carbon economy and further enhances the cooperation of the two largest emission trading systems of the world.

Building on the success of the 2017 EU-China Blue Year, the EU and China have also signed a Partnership Agreement on Oceans. Two of the world’s largest ocean economies will work together to improve the international governance of the oceans, including by combating illegal fishing and exploring potential business and research opportunities, based on clean technologies, in the maritime economy. The partnership contains clear commitments to protect the marine environment against pollution, including plastic litter; tackle climate change in accordance with the Paris Agreement and implement the 2030 Agenda for Sustainable Development, in particular Goal 14. The signature of this ocean partnership is the first of its kind and opens the door for future partnerships between the EU and other key ocean players.

Vice-President Katainen and Minister of Ecology and Environment, Li Ganjie, also signed the Memorandum of Understanding on Circular Economy Cooperation that will provide a framework for cooperation, including a high-level policy dialogue, to support the transition to a circular economy. Cooperation will cover strategies, legislation, policies and research in areas of mutual interest. It will address management systems and policy tools such as eco-design, eco-labelling, extended producer responsibility and green supply chains as well as financing of the circular economy. Both sides will exchange best practice in key fields such as industrial parks, chemicals, plastics and waste.

In the context of the EU’s International Urban Cooperation programme, in the margins of the Summit, Commissioner Creţu witnessed the signature of a joint declaration between Chinese and European cities: Kunming and Granada (ES); Haikou and Nice (FR); Yantai and Rome (IT); Liuzhou and Barnsley (UK) and Weinan and Reggio Emilia (IT). These partnerships will facilitate exchanges to examine and develop local action plans reflecting the EU’s integrated approach to sustainable urban development while addressing social, economic, demographic and environmental challenges.

Putting the international rules-based system at the centre of open and fair trade

“I am more convinced than ever that, in the era of globalisation and of interdependence, multilateralism must be at the heart of what we do. We expect all our partners to respect international rules and commitments that they have taken, notably within the framework of the World Trade Organisation”, said President Jean-Claude Juncker in his keynote speech at the EU-China Business Roundtable in Beijing, which provided an opportunity for EU and Chinese leaders to exchange views with representatives of the business community. “At the same time, it is true that the existing WTO rules do not allow unfair practices to be dealt with in the most effective way, but instead of throwing the baby out with the bathwater, we must all preserve the multilateral system and improve it from within.” President Juncker’s full speech is available online. Commissioner Malmström also intervened at the event.

At the Summit, the EU and China confirmed their firm support to the rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system with the WTO as its core and committed to complying with existing WTO rules. They also committed to co-operating on the reform of the WTO to help it meet new challenges, and established a joint working group on WTO reform, chaired at Vice-Ministerial level, to this end.

Good progress was made on the ongoing Investment Agreement negotiations, which is a top priority and a key project towards establishing and maintaining an open, predictable, fair and transparent business environment for European and Chinese investors. The EU and China exchanged market access offers, moving the negotiations into a new phase, in which work can be accelerated on the offers and other key aspects of the negotiations. The European Investment Fund (EIF), part of the European Investment Bank Group, and China’s Silk Road Fund (SRF) have signed a Memorandum of Understanding with the aim of confirming the first co-investment carried out under the recently established China-EU Co-Investment Fund (“CECIF”) that promotes investment cooperation between the European Union and China and the development of synergies between China’s Belt and Road Initiative and the Investment Plan for Europe.

Regarding steel, both sides agreed to strengthen their cooperation in the Global Forum on Steel Excess Capacity and committed, in accordance with the decisions of the 2016 Hangzhou and 2017 Hamburg Summits, as well as with the 2017 Ministerial decisions, to the goal of implementing the agreed political recommendations.

The EU and China also agreed to conclude the negotiations on an Agreement on cooperation on, and protection from imitation for distinctive food and drink products, so-called Geographical Indications before the end of October – if possible. An agreement in this area would result in a high level of protection of our respective Geographical Indications, which represent important traditions and rich resources for both the EU and China.

In the area of food safety, the EU and China agreed to promote the highest food safety standards, and are ready to take the regionalisation principle into account, and committed to expanding market access for food products.

The EU and China have also signed the Action Plan Concerning China-EU Customs Cooperation on Intellectual Property Rights (2018-2020), with the aim of strengthening customs enforcement to combat counterfeiting and piracy in the trade between the two. The Action Plan will also promote cooperation between customs and other law enforcement agencies and authorities in order to stop production and wind up distribution networks.

The European Anti-Fraud Office (OLAF) and the General Administration of China Customs signed a Strategic Administrative Cooperation Arrangement and an Action Plan (2018-2020) on strengthening the cooperation in combatting customs fraud in particular in the field of transhipment fraud, illicit traffic of waste and undervaluation fraud.

At the third meeting of the EU-China Connectivity Platform, held in the margins of the Summit and chaired for the EU by Commissioner Violeta Bulc, the two parties reaffirmed their commitment to transport connectivity on the basis of respective policy priorities, sustainability, market rules and international coordination.

The exchanges focused on:

  • the policy cooperation based on the Trans-European Transport Network (TEN-T) framework and the Belt and Road initiative, involving relevant third countries between EU and China;
  • cooperation on Transport decarbonisation and digitalisation, including in international fora such as the International Civil Aviation Organisation (ICAO) and the International Maritime Organisation (IMO)
  • cooperation on investment projects based on sustainability criteria, transparency and level-playing field to foster investment in transport between EU and China.

The joint agreed minutes of the Chairs’ meeting are available online, along with the list of European transport projectspresented under the EU-China Connectivity Platform.

A people’s partnership

The European Union and China are putting their respective citizens at the heart of the strategic partnership. There were good discussions on foreign and security cooperation and the situation in their respective neighbourhoods. At the Summit, EU and Chinese Leaders discussed ways to support a peaceful solution on the Korean Peninsula; their commitment to the continued, full and effective implementation of the Joint Comprehensive Plan of Action – the Iran nuclear deal; joint, coordinated work on the peace process in Afghanistan; and the situation in eastern Ukraine and the illegal annexation of Crimea and Sevastopol. They also discussed other foreign and security challenges, such as in the Middle East, Libya, and Africa, as well as their joint commitment to multilateralism and the rules-based international order with the United Nations at its core.

Many successful activities have already been held within the framework of the 2018 China-EU Tourism Year, designed to promote lesser-known destinations, improve travel and tourism experiences, and provide opportunities to increase economic cooperation. At the Summit, Leaders committed to further advancing relevant activities, facilitating tourism cooperation and contacts between people.

With the protection and improvement of human rights at the very core of the European Union and its global partnerships, Leaders also addressed issues relating to human rights, a week after the EU and China held their latest Human Rights Dialogue.

Both parties confirmed that they will press ahead with the parallel negotiations on the second phase of the EU-China Mobility and Migration Dialogue roadmap, namely on an agreement on visa facilitation and an agreement on cooperation in addressing irregular migration.

The EU and China also agreed to launch new dialogues covering drug-related issues and on humanitarian assistance.

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Libya is in no state to rescue migrants in the Mediterranean

Samantha Maloof

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Italy’s new government—an unholy alliance of the populist M5S and far-right League parties—careened into office on an uncompromising anti-migrant platform, soliciting the warnings of politicians and financial institutions around the world. With its recent decision to hand naval control of a large swath of the Mediterranean—extending almost to Malta and Crete— to failed-state Libya, the coalition government may yet set a new low more rapidly than expected.

Italy’s hope is that the Libyan forces it has ceded responsibility to will prevent shipwrecked migrants from reaching European shores, instead returning them to the very country they are trying to flee. While this plan might sound attractive to a government which has lamented it can’t deport its own citizens from minority backgrounds, NGOs working in the area have stressed the grave threat the new policy poses to migrants. Those rescued now face a return to prolonged detention and harsh treatment in a country which has been desperately torn apart for seven years. From the spate of warring militias which control Tripoli to General Khalifa Haftar’s lengthy campaign against Islamist forces in the country’s east, Libya is plagued with conflicts which make it no safe haven for migrants.

In this context, Italy’s decision to hand over responsibility of such a large portion of the Mediterranean to Libya is likely not only against international law, but an affront to basic human rights. The Italian government is set to donate 12 boats to enhance the capabilities of the Libyan coast guard—such as it is— given its new responsibilities. Libya will need these twelve vessels and more before they can carry out even the most basic search and rescue operations. At present, the country only has three operational patrol boats; barely seaworthy, they are often forced to stay at port due to lack of fuel. “It’s very clear that the priority is not saving lives”, one spokesman from the German charity Sea Watch remarked about the sorry state of Libya’s fleet; “I have not seen a single life jacket.”

Unsurprisingly, Libya’s track record on saving migrants at sea is hardly exceptional. More than 100 migrants, including young children, recently drowned off Libyan shores after the coast guard picked up just 16 survivors when their overloaded vessel capsized. In a separate incident, a shipwreck east of Libya’s capital Tripoli saw 63 people go missing after their inflatable boat sank. The Libyan coast guard was unable to even locate their bodies.

The number of migrants dying during the dangerous crossing has significantly increased since the European Union began to back away from rescue missions and close crucial ports. At the same time human traffickers are exploiting the desperation of those attempting to flee violence on the African continent, the European bloc seems ever more reluctant to extend a well-trained, well-resourced helping hand.

That reluctance has had deadly consequences. According to the United Nations Refugee Agency (UNHCR), one out of seven migrants attempting the journey across the Mediterranean died at sea last month, compared to last year’s average of one in 38 migrants.

Though it is becoming increasingly obvious the EU cannot accept further significant inflows of migrants without exacerbating tensions that risk breaking the bloc apart, plans to send migrants back to be detained in war-torn Libya under horrific conditions are simply inhumane.

If Italy is determined to turn over control of migrant rescue operations to the Libyan government, it first needs to make sure that that government is stable and just. So far, the West has done little to support Libya, privileging short-term solutions to the country’s deeply-rooted problems. Many Western countries have also stubbornly continued to push for the unelected, UN-backed-government in Tripoli, long after it has proven to be weak and ineffective. Upon the violent end of Muammar Gaddafi’s four decades of dictatorial rule, the US abdicated responsibility for “picking up the pieces” of Libya. At the same time, the UN worked to reconcile adversarial political blocs under the Libyan Political Agreement (LPA). This top-down approach has proven profoundly flawed, not least because it has sidelined actors outside the UN government, such as General Haftar, who already commands significant respect and power in the country.

Thankfully, Western attempts to stabilize Libya are slowly becoming more effective. Major international powers now finally recognize that all principal Libyan stakeholders must necessarily be involved in crafting a sustainable solution. France in particular is taking the lead on pushing for a workable way out of the crisis. Paris believes Haftar, whose four-year-long military campaign has been successful at rooting out the Islamic State and its affiliates from Derna and other fundamentalist strongholds, must inherently be a part of that process. In an encouraging breakthrough, Haftar and the three other key Libyan leaders have met and even tentatively agreed to hold elections in December.

This new approach to diplomacy within Libya’s chaotic borders is promising, and may point to a more stable future in years to come. In the meantime, Libya cannot be trusted with patrolling a huge section of the Mediterranean until a steadfast Libyan government can prove its mettle in ensuring the rule of law domestically.

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U.S. Crushes Europe

Eric Zuesse

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On June 28th, PwC (PriceWaterhouseCoopers) came out with their listing of “Global Top 100 companies (2018): Ranking of the top 100 global companies by market capitalisation”, and reported: “The increase in China’s market capitalisation has been close to that of the US this year. … China’s contribution to the top 100 market capitalisation increased by 57%, to $2,822bn. … European companies have never fully recovered from the 2009 financial crisis. Europe is now represented by just 23 companies (down from 31 in 2009) and accounts for only 17% of the top 100 market capitalisation (compared to 27% in 2009).

How much more can Europe’s wealth shrink?

Europe is shrinking as an international place to invest, even while it is exploding as an international place to receive refugees from the nations where the U.S. regime bomb and destroy the infrastructure, and leave hell for the residents, who thus flee, mainly to nearby Europe, and so cause the refugee-crisis there. Usually, the U.S. isn’t the only invader: it solicits any allies it can muster — mainly fundamentalist-Sunni Arab regimes, plus the apartheid theocracy of Israel, but also a few regimes in Europe — to join in this creation of hell for the escapees, and of immigrants to Europe. But, as Barack Obama put it, “The United States is and remains the one indispensable nation. That has been true for the century passed and it will be true for the century to come.” The U.S. aristocracy intend to keep things that way, and their allies just tag along.

The U.S. regime is solidly neoconservative, or imperialistic; and the way that it grows its wealth and its power now is at Europe’s expense. The data show this.

During recent centuries, Europe had led the world, but now the U.S. does, and at Europe’s expense, but especially at the expense of the people who live where we bomb. This is just a fact, but what are Europeans doing about it? Thus far, nothing. Is that about to change? Maybe things are finally getting bad enough.

On page 31 of the PwC report, is shown that whereas in 2009 the U.S. had 42% of the “Top 100” companies, that figure in 2018 is 54% — 54 firms, instead of the previous 42.

China has 12 instead of the former 9.

But most of Europe has seen declines, instead of rises.

UK now has 5 instead of the former 9.

France now has 4 instead of the former 7.

Germany now has 4 instead of the former 5.

Russia has been hit particularly hard by U.S. sanctions; it now has 0, instead of the former 2.

Three European countries had 1 in 2009 and now have 0 — none at all — and these three are: Italy, Norway, Finland.

No one can reasonably deny, in light of these data, that the U.S. aristocracy — the individuals who control America’s international corporations and U.S. Government and America’s ‘news’media (to control the public) — have continued to win against Europe’s aristocracies (the U.S. counterparts in the European subcontinent). What’s amazing is that Europe’s aristocrats are not fighting back — except (some of them) against the refugees from America’s invasions and coups (and opposing those refugees isn’t dealing with the source of Europe’s economic problem). Even if the publics in Europe are powerless, the billionaires who still remain there are not. How much longer will they continue to be sitting ducks for America’s billionaires to target and eat?

Europe’s power in the world could shrink to almost nothing, unless foreign affairs in Europe soon reverse 180 degrees, and turn against the U.S. and its allies, instead of stay with those regime-change fanatics — and against themselves.

Europe is not declining on account of some failure by Europeans, except a failure to fight back in an intelligent way, which means, above all: against the real source of Europe’s decline. America, after all, definitely is not a democracy.

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