The global economy craves a double shot of confidence right now but the best that leaders of the Group of Seven can offer is a less intoxicating cocktail: not making things worse. Sharp differences over U.S. President Donald Trump’s trade conflict with China and threats to escalate trade tensions with Europe, along with Britain’s impending departure from the European Union on terms yet to be decided, are making it unlikely the leaders of seven rich democracies can come up with a unified road map on how to help global growth. What the global economy doesn’t need: an outcome like last year’s summit in Canada. Leaders wrestled over a final joint statement, only to have Trump repudiate his signature shortly after leaving the summit and tweet criticism of the host, Canadian Prime Minister Justin Trudeau. This year’s host, French Prime Minister Emmanuel Macron, has indicated he will avoid that possibility by simply not having a statement. Instead, Macron may issue his own careful summary of what was discussed. Even if the leaders, who discussed the economy Sunday morning, issue a final statement, it’s unlikely to contain a solution to what’s deterring investment and dampening business confidence. During Sunday’s meeting on the… Read full this story
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