While some analysts remain hopeful that a sideline meeting between US President Trump and Chinese President Xi at the G-20 meeting in Buenos Aires will yield a truce in the trade war, it appears rather unlikely. The Wall Street Journal published an interview with Trump on Monday where he stated that he is very likely to move ahead with an increase in China tariffs on $200 billion worth of goods from the current 10% to 25%. This would mean that $250 billion worth of Chinese goods will be taxed by 25%.

In 2007, 83% of GDP in G-20 nations was controlled by mainstream parties which favored a liberal democratic form of governing. Populist parties, who vow to fight for the common man and are against the establishment, controlled only 4%. Then the global financial crisis hit in 2008 and the weaknesses and inefficiencies of the establishment became visible to the masses.