Leaders of the world’s richest democracies acted to stiffen sanctions against Russia, while a draft communique to be issued after their talks in the Japanese city of Hiroshima stressed the need to reduce reliance on trade with China. | Reuters
On China, which G7 powers increasingly see as a threat to economic security, they were to agree that its status as the world’s second largest economy necessitated efforts to foster cooperation, an early draft of the final communique seen by Reuters said.
It reaffirmed the need for peace in the Taiwan Strait and urged China to press Russia to end aggression in Ukraine.The G7 – the United States, Japan, Germany, Britain, France, Italy and Canada – will use the three-day meeting to debate strategy on a Ukraine conflict that shows no sign of easing. Having emerged as the world’s wealthiest nations after World War Two, the G7 democracies have become increasingly challenged by an ascendant China and unpredictable Russia.
Breakdowns of German trade data show its exports to countries bordering Russia have risen sharply, fuelling concerns about the re-exportation of goods from those neighbours. Ukraine has urged its Western allies to go further in isolating Russia, for example by tightening loopholes in the financial sector.
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