Publications: Notes at the Margin

G1 or G2: Implications of the US-China Showdown Following the New Sanctions on Russian Oil

 

President Trump and China’s Xi Jinping will meet on October 31 in South Korea. The meeting’s success or failure will have substantial implications for global energy markets, especially after the October 23 sanctions imposed on Russian oil companies by the United States and given the US threats to Chinese oil firms. The outcome depends on whether the G1 (the United States) can impose its dictates on China or whether China (G2) presents the world with a new paradigm that matches the G1’s penchant for unilateral action.

 

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