Global Geopolitics called it, you witnessed it: The United States and Germany, though the European Union it dominates and runs, are locked in economic warfare against one another.
It’s a very dangerous game America is playing by trying to gut the largest economy in the world, the European Union, especially when nations are beginning to jump to the Sino-Soviet bloc.
German parliament’s economics committee chairman Peter Ramsauer says he believes the $14 billion fine being leveraged against Deutsche Bank is part of a long US tradition of waging trade and economic war.
Ramsauer to Welt am Sonntag: Washington has a “long tradition” of waging trade wars, if they are favorable to the US economy, and the Deutsche Bank case is an example of that.
“The threat to force Deutsche Bank to pay a $14 billion fine over its mortgage-backed securities business before the 2008 global crisis has the characteristics of an economic war.”
Simply put: A deal with China has been made to cripple U.S. energy. The Key Stone pipeline from Canada is in the cross-hair.
In the “historic” U.S.-China climate agreement this week, Beijing simply reiterated previously announced targets.
The big headline coming out of the second summit between Chinese President Xi Jinping and U.S. President Barack Obama is a climate agreement the two sides reached about cutting carbon emissions in the coming decades. News stories have used sweeping language like the “historic climate change agreement” to describe the deal.
According to the White House, the agreement states that “The United States intends to achieve an economy-wide target of reducing its emissions by 26%-28% below its 2005 level in 2025 and to make best efforts to reduce its emissions by 28%. China intends to achieve the peaking of CO2 emissions around 2030 and to make best efforts to peak early and intends to increase the share of non-fossil fuels in primary energy consumption to around 20% by 2030.”