G7 summit statement to target China's 'economic coercion'

G7 summit statement to target China
# 13 May 2023 09:04 (UTC +04:00)

Leaders of the Group of Seven (G7) countries are set to discuss concern about China's use of "economic coercion" in its dealings abroad as part of their larger joint statement next week, according to a U.S. official familiar with the discussions, APA reports citing Reuters.

The statement, a likely component of the overall communique that will be released by leaders during the May 19-21 summit in Hiroshima, Japan, is expected to be paired with a broader written proposal on how the seven advanced economies will work together to counter "economic coercion" from any country.

The main G7 statement is set to include "a section specific to China" with a list of concerns that include "economic coercion and other behavior that we have seen specifically from the [People's Republic of China]," the official said on Friday.

A separate "economic security statement will speak more to tools" used to counter coercive efforts from any countries responsible, including planning and coordination, the person said. In each case, the statements are to expected go further than prior statements by the G7.

The G7, which also includes Canada, France, Germany, Italy and the United Kingdom, is closely tied economically to China, the world's biggest exporter and a key market for many of the seven countries' companies.

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