Let us hope that a compromise between the two branches of US power will be found and that the ceiling of the national debt will be raised once again. If no compromise is reached, the US federal government might fail to meet its financial commitments already in June such a technical default would have multiple negative repercussions for the US, as well as for the global economy and finance at large. The main reason for the change of plans was the continuous struggle between the White House and Republicans on the Hill over the national debt ceiling. Instead, the heads of the four Quad member states got together on the margins of the G7 Summit in Hiroshima on May 20. The US president had to pull out of his long-anticipated trip to Australia and Papua New Guinea. US foreign policy is advanced smartphone with weak battery By Andrey KortunovĪndrey Kortunov, director general of the Russian International Affairs Council.Andrey Kortunov Published: 07:41 PMĪ couple of days ago, a Quad summit meeting in Sydney scheduled for May 24 was abruptly canceled.
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