The G7 summit has become a non-event because its economic clout has already declined. China is the largest trading partner for the EU and Asia now.
It is very difficult for the US to get other G7 members to stand by its side like before now because the world has changed. Not only the external environment has changed for the US, but the internal situation has also changed too. The US chamber of commerce (USCC) had commissioned an economic study to convince the US government not to continue the US-China trade war.
The USCC revealed the outcome of this study after the USCBC did the same thing months ago.
Therefore, Biden is facing internal and external pressures now to change course after the US lost the US-China trade war. The Americans are very stupid because they need to learn things the hard way.
The EU was not stupid to follow the US blindly in the US-China trade war because the ECB did a US-China trade war simulation which showed that the US would lose. The US refused to acknowledge this outcome previously.
Thus, we must accept that China's political and economic clouts are not the same anymore and China will supersede the US in the future.
Who will want to stand with the loser (US) when one can stand with the winner (China) on the podium?
Even the UK PM knows how to do a flip-flop now! He has just proclaimed that he's a sinophile. Hahaha!
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