Homepage / Asia / From G-7 to Kim summit, 'a bad week for American strength around the world'
Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement The trade war is complicating China's efforts to fix its economy European markets set for a strong open amid earnings; Google in focus Hedge fund billionaire Einhorn places sixth in major poker tournament The biggest spender of political ads on Facebook? President Trump Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer Stocks are setting up to break to new highs Not all FAANG stocks are created equal EU ruling may be too little, too late to stop Google's mobile dominance Cramer explains how Netflix's stock managed to taper its drop after disappointing on earnings Airbnb condemns New York City's 'bellhop politics,' threatens legal retaliation Amazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices Investor explains why 'duller' tech stocks can have better returns than 'high-flying' tech names Elon Musk is 'thin-skinned and short-tempered,' says tech VC Texas Instruments CEO Brian Crutcher resigns for violating code of conduct Google Cloud Platform fixes issues that took down Spotify, Snapchat and other popular sites Uber exec: We want to become the 'one stop' transportation app 'What a dumb hearing,' says Democrat as Congress grills tech companies on conservative bias Amazon shares rebound, report says Prime Day sales jumped 89 percent in first 12 hours of the event How to put your medical history on your iPhone in less than 5 minutes Investment chief: Watch these two big events in 2018 Even with Netflix slowing, the market rally is likely not over Cramer: Netflix subscriber weakness debunks the 'sky's the limit' theory on the stock Netflix is looking at watch time as a new area of growth, but the competition is stiff Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin Rolls-Royce is developing tiny 'cockroach' robots to crawl in and fix airplane engines After Netflix plunge, Wall Street analysts forecast just tame returns ahead for the once high-flying FANG group Roku shares rise after analyst raises streaming video company's price target due to customer growth China is investing 9 times more into Europe than into North America, report reveals Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved Netflix is on pace for its worst day in two years US lumber producers see huge opportunity, rush to expand San Francisco to consider tax on companies to help homeless Homebuilder sentiment, still high, stalls as tariffs, labor and land drive up costs Powell backs more rate hikes as economy growing 'considerably stronger' Netflix history is filled with big stock declines – like today – followed by bigger rebounds Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD Petco aims to reinvent the pet store with something you can't buy online Genetic testing is coming of age, but for consumers it's buyer beware Tech 'FAANG' was the most-crowded trade in the world heading into the Netflix implosion, survey shows Netflix weak subscriber growth may indicate a 'maturity wall' that could whack the stock even more: Analyst This chart may be predicting the bull market's demise Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’ Tesla sinks after Musk tweets, again Boeing announces new division devoted to flying taxis Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more Deutsche Bank downgrades Netflix, but says big subscriber miss is not 'thesis changing' IBM is experimenting with a cryptocurrency that’s pegged to the US dollar North Korea and Zimbabwe: A friendship explained Virgin Galactic spinoff Orbit to launch rockets from the UK with space deal Artificial intelligence will create more jobs than it destroys? That’s what PwC says ‘Treasonous’ Trump and ‘Putin’s poodle:' Scathing headlines follow the Trump-Putin summit China’s fintech companies offer ‘enormous’ opportunity, investment manager says Trump's performance at summit with Putin was 'unprecedented,' experts say Walmart and Microsoft link up on cloud technology as they both battle Amazon European stocks seen mixed amid earnings; Fed’s Powell to address Congress How I knew I should quit my day job and run my start-up full-time: Viral website founder China's stocks have been trounced, but the trade war may ultimately be good news for those shares Billionaire tech investor Peter Thiel bets on crypto start-up Block.one Asian shares subdued open after mixed close on Wall Street; energy stocks under pressure Amazon cloud hits snags after Amazon Prime Day downtime Netflix isn't doomed by one quarter unless people start questioning the long-term investor thesis Tech stocks set to sink on Tuesday after rough evening for ‘FANG’ Netflix plummets after missing big on subscriber growth This wristband lets humans control machines with their minds The U.S. has a rocky history convincing Russia to extradite computer criminals Amazon suffers glitches at the start of Prime Day Jeff Bezos is now the richest man in modern history 'The United States has been foolish': Read Trump and Putin's full exchange Goldman Sachs recommends these 5 highly profitable companies — including Nvidia — to combat rising inflation Goldman Sachs releases 'tactical' stock picks for this earnings season Three red flags for Netflix ahead of its earnings report The bond market may be raising recession fears, but don't expect one anytime soon Cramer: Banks are 'making fortunes' but are still as hated as they were during the financial crisis Putin told Trump at summit: Russia never meddled in US election


From G-7 to Kim summit, 'a bad week for American strength around the world'

White House aides, ripping Canada’s prime minister over trade disputes at the G-7 gathering, vowed not to let him paint President Donald Trump as weak before his nuclear summit.

In reality, Trump weakened his own hand at both the G-7 and his sit-down with North Korean dictator Kim Jong Un. His conduct was unprecedented because Trump’s approach to the presidency — applying a narrow definition of America’s self-interest according to his personal whims — is unprecedented.

And there was no sign of the muscular outcome Trump aides craved. “It has been,” said longtime U.S. diplomat Nicholas Burns, “a bad week for American strength around the world.”

At the G-7, Trump riled economic allies by pressing ahead for protective tariffs. He demands concessions from friendly democracies based on immediate economic benefit.

Before that gathering, he called for re-admission of Russian autocrat Vladimir Putin to the G-7 club. Afterward, he attacked the host prime minister as “weak”; offended by Justin Trudeau’s refusal to acquiesce, he warned that will cost Canadians “a lot of money.”

Trump invoked the same economic benefits in Singapore. He granted Kim’s wish to suspend U.S. military exercises with South Korea, noting “we’ll be saving a tremendous amount of money.”

Candidate Trump touted negotiating skill as his foremost credential for the presidency. Approaching the summit, he reveled in talk he could win the Nobel Peace Prize.

His eagerness did not produce concrete results. The document he and Kim signed, calling for peace on a denuclearized Korean peninsula, contained neither a timetable nor details of any kind. It was less specific than earlier statements by Kim’s predecessors.

After meeting the brutal ruler, who has starved North Koreans and ordered the assassination of his own family members, Trump sidestepped asserting American values on freedom and human rights. He praised Kim as a “very talented” young man who took over his country and has “run it tough.”

Summit stagecraft, featuring American flags arrayed side-by-side with North Korean flags, depicted the dictator as the president’s peer. Trump told ABC’s George Stephanopoulos that North Korea’s impoverished people, who lack freedom to dissent, feel “a great fervor” for Kim.

Like Trump insisting Canada runs a trade surplus with the U.S. when data show the opposite, calling Kim a beloved leader sounds disconnected from reality. Yet he found a personal basis for their “very special bond” in Kim’s praise for him.

“He said openly … that he knows no other president could have done this,” Trump told Stephanopoulos. “I think he trusts me, and I trust him.”

For foreign policy analysts, the good news was that the summit took place. Gritty negotiations toward denuclearization displace, at least for now, threats of armed conflict.

“Jaw-jaw is better than war-war,” said ex-Obama aide Tony Blinken, quoting Winston Churchill. “Trump should be applauded for that.”

Republican loyalists dismissed the idea that Trump surrendered concessions at all.

“In the words of John Lennon, ‘Give peace a chance,'” said GOP Rep. Bradley Byrne of Alabama. “We gave up nothing, unless you think a suspension of joint exercises with South Korea is something — which as a member of the House Armed Services Committee, I don’t.”

South Korea’s request for clarification signaled that Seoul views the joint exercises differently. And the fact that President Moon Jae-In got no advance word of the suspension shows what Trump, in both high-level meetings, plainly has given up.

Since the U.S. triumphed in World War II, its leaders have embraced a broad conception of national self-interest. It viewed strength at home — economically and otherwise — as intertwined with the strength of democratic friends abroad.

It accepted America’s obligation, as the world’s leading power, to sustain international alliances based in part on common values. When Trump was 14 years old, an earlier president facing a Cold War with the Soviet Union described the obligation memorably.

“We shall pay any price, bear any burden, meet any hardship, support any friend, oppose any foe in order to assure the survival and the success of liberty,” John F. Kennedy declared.

Six decades later, Trump’s “America First” doctrine little values those alliances or the strength the U.S. derives from them. He wants money back.

Source: cnbc china
From G-7 to Kim summit, 'a bad week for American strength around the world'

Comments are closed.