Ian Bremmer's Quick Take:

Hi, everybody. Ian Bremmer here, and a happy COP26 kickoff day. That's in Glasgow. We've got a bunch of Eurasia Group folks there. I am not. I'm here in New York and of course wouldn't you know, it's the first day that it's pretty cold out and so I actually got the winter gear out. It feels a little bit perverse given the climate issues that we're talking about and thought I'd talk a little bit about where we're going.

Look, it's interesting, first of all, because the COP26 summit is right after the G-20. The G-20 didn't get much attention this time around. Also, because there wasn't an awful lot of news being made. I mean, the big announcements are coordination on the economic side. It is about an alternate minimum tax, which was been driven by the United States and the Europeans. We had movement towards that the last OECD summit and full agreement this time around at the G-20. Also, there is breakthrough on aluminum and steel tariffs that would have led to tit for tat, from the Europeans against American exports, a bunch of luxury goods. Nobody needs any of that. Both sides taking a step away from the brink, improvement in terms of globalization and movement of goods and less costs being born by consumers. And at a time when we're hitting inflation. And when there are all sorts of supply chain difficulties and shutdowns, no leaders really want to focus on a bigger fight.