Among all globalist organizations in the world, the International Monetary Fund (IMF) is one that sits at the top of the list as an entity that seeks to protect the interests of multinational corporations; more specifically, banking institutions.
This position was not different at the last G-20 meeting in China, an event that came and went as many others have: lots of posing and no solutions to any of the problems that the planet is suffering.
The G20 summit ended with what is called a “firm intention” of curbing protectionism without concrete measures. While banks and corporations are protected by the bureaucracies that work for them in every single G-20 nation, its members and the IMF say that less protectionism and more openness is necessary.
G-20 members, especially those in the more selected G-7 group are the nations that advocate for free trade agreements such as the TPP and TTIP, which are corporate sponsored plans to seek complete control of national governments, world resources and the elimination of any and all environmental standards that get on their way to controlling it all.
The so-called lack of agreement on how to end protectionism had Chinese President, Xi Jinping, upset, as he had recommended that G-20 members stopped talking and started walking.
His colleagues, however, have shown much interest in geopolitical issues settled in bilateral meetings.
“We will support the mechanisms of international trade and we will oppose protectionism to reverse its fall,” Xi said at the closing ceremony.
He also mentioned the need to stimulate growth not only with monetary and fiscal measures, but with innovation.
China’s efforts in this field are now undeniable after three decades turning its economy into a manufacturing engine with low value-added.
There was no reference to global stimuli or other joint mechanisms for the different situation of each country.
References to protectionism come after ‘Brexit’ and also make reference to Donald Trump and Marine Le Pen’s defense of sovereignty and independence when it comes to monetary, fiscal and economic policy.
The new British Prime Minister, Theresa May, has heard from its usual trading partners like the US and Japan that Britain’s exit from the European Union will not be free.
The director of the International Monetary Fund, Christine Lagarde, defended a more rational and democratic economic model.
“We need to increase growth, but this has to be more balanced, more sustainable so it can benefit more people,” she said at the summit.
The joint statement among the 20 largest economies in the world includes other classics such as the promise to avoid currency devaluation to spur exports and to fight tax evasion, among others.
The G-20 was created to respond to the financial crisis of 2008 with the intention of negotiating strategies in the medium and long term. However, as it is the case of the G-7, only corporate interests are firmly represented at these meetings in which much is said, but little is done.