The outcome of the COP30 summit in Brazil kept multilateralism alive while barely pushing forward the promise of combatting global warming. https://t.co/ZHTliXQDgA ...

RT Bloomberg TV (@BloombergTV)"Multilateralism can, and does, deliver"South African President Cyril Ramaphosa opens the G-20 summit with a veiled swipe at Donald Trump, who is boycotting the event in JohannesburgLive updates: https://t.co/3XQW4xyKFy https://t.co/Ckn2KZC2Qc ...

Core Insights - The APEC Economic Leaders' Meeting in South Korea is a crucial event as geopolitical tensions rise and global economic uncertainty deepens [1][3] Group 1: Global Governance and Cooperation - The panel discussion highlighted the need for stronger shared governance due to increasingly intertwined national interests, emphasizing cooperation and mutual benefit [3][4] - China's Global Governance Initiative (GGI) is presented as a solution for establishing a fairer global system, with a focus on economic resilience as a stabilizing force for global growth [4][6] - Participants stressed that addressing challenges such as climate change and economic uncertainty requires dialogue, cooperation, and collective planning for sustainability [3][5] Group 2: Importance of APEC - APEC is recognized as a vital platform for regional opportunities, with calls for transparency to counter rising trade barriers [5] - The need for open and inclusive partnerships within APEC was emphasized to balance common interests and differences among member nations [5][6] - The overarching message from the discussions is that dialogue, cooperation, and shared prosperity are essential for renewal amid global fragmentation and mistrust [6]

Canada's Trade and Economic Strategy - Canada is doubling down on the Indo-Pacific strategy, focusing on diversifying supply chains and building trading relationships across the region [2] - Canada aims for a Free Trade Agreement (FTA) with ASEAN in 2026 [2] - Canada is prioritizing its sovereign and economic interests through diplomacy, leveraging its natural resource wealth, including critical minerals and energy [5][6] - Canada is actively diversifying supply chains, as evidenced by the Foreign Minister's visit to the Indo-Pacific region [7] Canada-China Relations - China is one of Canada's largest trading partners, although trade with the United States accounts for approximately 80% of Canada's total trade [8] - Canada's strategy with China involves challenging where necessary and cooperating where possible, with a key focus on opening strategic dialogue [9][10] - Canada seeks to balance trade opportunities with the need to address issues such as human rights and the South China Seas in its relationship with China [10] Energy and Resources - Canada possesses a competitive advantage in LNG and is witnessing global demand for its LNG and other energy resources [15][16] - Canada is developing its capacity for LNG and has multiple large national projects, including wind, LNG, and nuclear energy, attracting international investment interest [15][16] Canada-India Relations - Canada is taking a step-by-step approach to mend relations with India, focusing on public security and law enforcement dialogue [21] - Canada and India finalized a joint statement for cooperation on public security, energy, critical minerals, resilient trade routes, and agriculture [5][22] Multilateral Engagement - Canada is the host of the G7 and is actively engaged with G7 counterparts across various government ministries [6] - Canada is a proponent of multilateralism and is committed to promoting multilateral engagement across trade, defense, security, and global organizations [19][20]

World Bank chief Ajay Banga says he has a plan to save multilateralism amid a sea of rising challenges https://t.co/5hN4w81poA ...

Let me start by asking you about what we've seen in terms of NATO's responds to the Russian incursions we've seen in recent days. Drones, jets and Bloomberg today reported that some European diplomats, diplomats traveled to Moscow to say if there are Russian jets in European airspace, they will not hesitate to shoot them down. What is Canada's position on how NATO's should respond to these incursions going forward.Excellent question. Because of the volatility in this area right now, I met with Margaret yest ...

there. Joel, what stood out to you. >> Well, you know, Anna, um, this is Trump unconstrained first and foremost, and clearly, uh, he decided to get a lot off his chest.And, you know, I've been going to UN General Assemblies either working on them or outside and speaking and meeting with people or commenting, of course, as well. Like this morning, I've never seen a speech like this. This was bonkers. This was out of control.Uh it it made no strategic sense. It did not lay out a vision for how we're going to ...

Trade Negotiations & Tariffs - The EU aims to secure a trade deal with the US before August 1st, emphasizing that free trade benefits both parties [1][4] - The EU is prepared to retaliate if a deal isn't reached, highlighting its position as a major trade bloc [4][5] - The Netherlands advocates for free trade and fiscal consolidation instead of tariffs, viewing tariffs as a tax on American consumers that increases inflation [8] - Concerns exist in Europe regarding increased capacity from trade barriers between the US and China, threatening European competitiveness [9] - Trade wars are not in anyone's interest, exemplified by concerns over Chinese product dumping in Europe and potential surplus issues for the US [10] - The Netherlands is against tariffs on semiconductors and emphasizes the importance of free trade for the semiconductor industry [6][7][8] EU Budget & Fiscal Policy - The proposed EU budget of €2 trillion is considered too high and "dead on arrival" by the Netherlands, which advocates for a smaller budget and reprioritization [11][12] - The Netherlands believes the focus should be on spending less rather than increasing taxes, especially corporate taxes [12][13][14] - The Netherlands prioritizes security and innovation within the EU budget [15] Support for Ukraine - The EU needs to continue supporting Ukraine through military, budgetary, and sanction measures against Russia [16] - Europe should pay for weapons to Ukraine [18] Multilateralism & Free Trade - Participants at the G20 meetings are vocal about the importance of free trade and reducing tariffs [20]

G20 Summit & US Absence - The absence of US representation at the G20 meeting raises questions about the future of multilateralism and potential agreements [1][3] - Despite the US absence, there's optimism regarding commitment among G20 members at the deputies level to push forward policy dialogues and reach a consensus [2] - The US will be taking over the G20 presidency next year, adding complexity to the current situation [3] South Africa's G20 Presidency Focus - South Africa aims to focus on debt sustainability and strengthening multilateral development work during its G20 presidency [4][5] - The key question is whether the US will participate and agree on the issues at the end of the year's leaders summit [5] - South Africa's G20 theme focuses on solidarity, equality, and sustainability [7] Key Issues & Discussions - Finance ministers will discuss ways to align on issues despite competing commitments, including tariffs [6][9] - Discussions will involve finance ministers and central bank governors from various countries, including Sweden, Canada, Denmark, and South Africa [7] - The focus is on achieving consensus on priorities to reach an agreement that leaders can potentially agree upon later in the year [8]

Trade and Economic Strategy - Canada prioritizes multilateralism in trade and economic matters within the Indo-Pacific region, aiming to build resilient supply chains and diversify trade relationships [2] - Canada is actively negotiating a free trade agreement with ASEAN to benefit businesses and stakeholders in both regions [2] - Despite existing robust trade agreements, Canada emphasizes the importance of the Canada-ASEAN free trade agreement due to stress in the global economic environment [4] - Canada aims to finalize the ASEAN free trade agreement as soon as possible, focusing on resilient supply chains for the benefit of business and other stakeholders [5] - Canada is committed to opening doors to trade, free trade, and multilateralism amidst global geostrategic stress [8] - Diversification is considered the most important economic tool for Canada as a trading nation committed to multilateralism [15] Energy and Resources - Canada positions itself as a powerhouse in energy and critical minerals, with LNG shipments leaving Canadian shores [6] - Canada views energy and natural resources as its superpower, leveraging its competitive advantage [14] Trade Relations and Tariffs - Canada acknowledges the impact of tariffs, particularly from the US, on sectors like autos, steel, and aluminum [7][8] - Canada is engaged in complex negotiations with the United States to address tariffs and reach an agreement [8] - Canada has counter tariffs in place and is working to secure the best deal for Canadian industry and workers [12] - Approximately 300 billion USD of trade passes through the US-Canada border daily, emphasizing the need for an agreement that addresses the needs of Canadian workers, businesses, and the population [10]