G7 leaders meeting in Japan agreed on Saturday to outline measures designed to reduce the risks posed by China while maintaining economic ties with the Asian giant.
“The world is experiencing an alarming increase in incidents of economic coercion that seeks to exploit economic weaknesses,” the leaders said in a statement that appeared to refer to China’s attempts to use economic power. of these political disputes in Australia and Lithuania.
The statement said the initiative, called the Coordination Platform on Economic Coercion, will see members meet regularly to share information and provide early warnings in cases of such coercion.
The G7 aims to ‘de-risk, not decouple’ from China
According to US National Security Adviser Jake Sullivan, the G7 countries want to “de-risk, not decouple” from China due to its status as the second largest economy in the world.
He said the G7 leaders would put measures in place including creating more robust supply chains and protecting sensitive technologies.
The President of the European Commission, Ursula von der Leyen, urged the countries of the Global South to be encouraged to cooperate economically with Western countries after making “bad experiences” with China.
He said that many developing countries participated in China’s Belt and Road investment project in the belief that it would help their development, but ended up in debt.
Instead, he said, “We need to offer win-win partnerships to developing economies that are willing to work with us, adding: “But we need to be fast and we need to get concrete.”
In their final communique, the G7 leaders also said they oppose China’s “militarization” of the Asia-Pacific region.
The communique also called on Beijing to “press Russia to stop its military aggression, and immediately, completely and unconditionally withdraw its troops from Ukraine.”
On the eve of the summit, the Chinese Embassy in Tokyo issued a statement expressing concern that “negative” measures related to China could be discussed at the summit.
Zelenskyy lands in Japan, to meet with Asian leaders
The talks with China come a day after the leaders unveiled a package of new sanctions against Russia over its invasion of Ukraine.
Ukrainian President Volodymr Zelenskyy’s visit to a three-day meeting in Hiroshima on Saturday will prompt further discussion of the conflict in Ukraine.
“Japan. G7. Important meetings with colleagues and friends in Ukraine. Security and enhanced cooperation for our victory. Peace will be closer now,” Zelenskyy tweeted after he arrived in Japan.
In addition to discussing the summit in a bid to strengthen support for his country, Zelenskyy will meet separately with Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi, who have maintained relations with the Russian President. that Vladimir Putin.
US National Security Adviser Sullivan said that Zelenskyy and US President Joe Biden will also meet face to face at the summit.
Zelenskyy’s appearance in Hiroshima, the world’s first city to suffer a nuclear attack, comes as Russia continues to issue thinly veiled threats of a nuclear response to Western military support for in Ukraine.
The G7, or Group of Seven, is made up of the richest democracies in the world: Germany, Japan, France, Italy, the US, Britain and Canada, as well as the European Union.
tj/wd (Reuters, AFP, dpa, AP)