G7 Summit to Focus On China’s “Economic Coercion”

G7 Summit to Focus On China’s “Economic Coercion”
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13 May 2023
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Leaders of the Group of Seven (G7) countries are set to discuss concerns about China's use of "economic coercion" in its foreign relations, according to a U.S. official familiar with the discussions.

The statement is expected to be accompanied by a broader written proposal on how the seven advanced economies will work together to counter "economic coercion" by any country.

The statement is likely to be part of the overall communiqué that the leaders will release during the May 19-21 summit in Hiroshima, Japan.

China has been a major focus of the current US administration's foreign policy. U.S. President Joe Biden has sought to prevent the tense and competitive relationship from escalating into open conflict.

The G7 or Group of Seven is an informal meeting held annually between heads of state and government of the major capitalist economies.

The countries that make up the G7 are: United States, Japan, Germany, United Kingdom, France, Italy and Canada. Between 1975, when it was created, and 2000, the G7 countries went from representing 70% to 55% of world GDP. They account for around 10% of the world's population and 65% of international trade.

The authorities in the group expressed their recognition of the importance of engaging in frank dialogue with China and expressing our concerns directly to it.

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