Thursday, April 02, 2009
Obama Saved the G20 From Sarkozy
Paul Waugh (have you bookmarked his blog yet? If not you should) has a fascinating insight into the realpolitik behind the scenes at the G20. Apparently it was Obama wot won it. He knocked the Chinese and French heads together to get agreement on the treatment of tax havens and behaved like an old diplomatic pro. Needless to say, Gordon Brown rather oversold the effect of the compromise.
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This issue was not resolved by President Obama; all that was done was a postponement of the production of a world list of offical tax havens.
At some point it will have to be decided whether the world is willing to take on China and add Macau and Honk Kong to the list. It seems unlikely.
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