Hiroshima (Japan) (EFE).- The G7 said this Saturday that it will take measures to invest in their own economies and reduce their “excessive dependencies” on China for “critical” supplies, without this rapprochement seeking in any way to threaten development from Peking.
In the final declaration of the G7 summit held in the Japanese city of Hiroshima, published this Saturday, the bloc’s leaders indicated that they believe that a resilient economy “requires de-risking and diversifying,” and advocated taking steps individually and collectively in their own economies.
The G7 stressed that its policies are not designed “to harm” Beijing or to “impede China’s progress and economic development” and assured that “a growing China that plays by international rules would be in the global interest”, but at the same Time opted to “reduce excessive dependencies in our critical supply chains.”
“Practices foreign to the Chinese market”
In their statement abruptly published today, one day ahead of schedule and after the arrival in Hiroshima of the Ukrainian President, Volodimir Zelensky, the leaders of the bloc (Germany, Canada, the United States, France, Italy, Japan and the United Kingdom) referred to to “China’s non-market policies and practices.”
“With a view to enabling sustainable economic relations with China and strengthening the international trade system, we will push for a level playing field for our workers and companies,” said the group, which pledged to address the challenges posed by such practices, which they consider to “distort the global economy”.
“We will counter malicious practices, such as the transfer of illegitimate technology or the disclosure of data”, reads the text, which also talks about confronting “economic coercion”.
The G7 also agreed on “the need to protect certain advanced technologies that could be used to threaten our national security, without unduly limiting trade and investment.”
The statement by the G7 leaders was published shortly after another statement precisely on economic coercion in which they condemned the use “as a weapon” of countries’ export strengths and their use as a political tool.
Although that text does not expressly mention any country, US sources confirmed that the group had China in mind.