Hiroshima: At their next summit in Hiroshima, Japan, the Group of Seven (G7) leaders are anticipated to voice their worries about China’s use of “economic coercion.” A U.S. official involved with the deliberations said today that the G7’s joint statement is expected to contain a section on China specifically outlining their worries over “economic coercion and other behavior” on the part of the nation.
The declaration is also anticipated to accompany a detailed recommendation for how the G7 nations may cooperate to resist such intimidation from any government. The plan and declaration are expected to go further on China than previous G7 comments.
Joe Biden, the president of the United States, has given China top priority in his foreign policy and is striving to stop the tense relationship from becoming a direct conflict. China is closely linked economically to the G7, comprising Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. China is the world’s largest exporter and a significant market for many G7 enterprises.
Some G7 nations are hesitant to ratify curbs on outbound investment in China, despite continued discussions over the exact wording of the presidents’ joint pronouncements. The G7 summit will nevertheless test how much the participants can agree on a shared strategy for dealing with China, the second-largest economy in the world. As the U.S. official emphasized, the idea of “de-risking” and “diversifying” rather than “decoupling” the U.S. and Chinese economies is beneficial for both countries.
The conference will also present the possibility of deeper collaboration with China on issues like climate change. President Biden is anticipated to attend the meeting and will later visit Australia and Papua New Guinea to support American policy in the Asia-Pacific region.