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After the G7 meeting held in the lovely town of Taormina, in Sicily, the most beautiful place in the world according to Sir Winston Churchill, it became clear that the worst expectations about the US climate change policy could materialize. Leaders from Germany, Japan, France, Canada, the UK and Australia expressed their opposition to the US President
“On energy, we will cancel the restrictions on the production of American energy, including shale, oil, natural gas and clean beautiful coal.” Drilling restrictions in the US will be lifted to allow more oil production. At the same time, oil prices declined by 6% last week and hit a low since November, when
Since 2011 I travel every year to China. Not for tourism but because I wanted to understand better a country that in 35 years became the largest economy in the world. Never in the history of humanity a large country has been able to sustain exceptionally high GDP growth rates for such a long period.
Whomever wants to understand the rise of populism cannot ignore the shift in the world economic balance of power. The center of gravity of the world economy is not in the West anymore, it shifted to the Asia- Pacific region and China overtook the United States in terms of GDP measured in PPP. 1000 years