The G20 summit had a little something for everyone. But it was Donald Trump who stole the show. At least as far as financial markets are concerned. For in the run-up to talks with his Chinese counterpart, Xi Jinping, the American president had threatened to escalate the bilateral trade war. Had this gone ahead, it would have resulted in increased tariffs for Beijing; up from 10 to 25 percent. Thereby pushing China into a corner while leaving it red-faced at home for failing to find to room manoeuvre. This, of course, this is classic Trump: threatening the worst before emerging with diplomatic credentials on full display. That being said, neither side is out of the woods yet. The tariff truce is to hold for just 90 days as negotiations get under way to thrash out a final deal. And in the meanwhile, Xi has agreed to start importing agricultural produce from the US as well as goods related to the energy and industrial sectors. That Chinese exports to American markets total around $200 billion is yet further evidence of how Beijing has jumped fully aboard the global capitalist gravy train. And of how Washington resents anyone else inching towards the driving seat. The same may be said when it comes to the commitment to fighting protectionism. For the first time in G20 history, dating back to 1999, there was no mention of this in the final communiqué. This was reportedly done at Trump’s behest. Even while the question of tariffs on Chinese goods represents a protectionist move. Elsewhere, it was business more or less as usual. Crown Prince Saudi Crown Prince Mohammad Bin Sultan (MBS) was not quite the international pariah that global rights groups had hoped he would be. This was to be expected. After all, G20 summits focus primarily on global financial stability and Riyadh enjoys much leverage when it comes to determining oil supplies and market prices. The Kingdom also has much cash to splash on foreign investment. Meaning that there will likely never be any question of western sanctions. And proof of involvement in the murder of a US-based journalist is not going to change that. Thus, aside from Canada, no nation took Saudi Arabia to official task. Rather, such grandstanding was reserved for Russia and its recent maritime clash with the Ukraine. Thus this particular summit will be remembered as one where two major players got their way: the US and Saudi Arabia. * Published in Daily Times, December 3rd 2018.