G7 expands ties with Global South to counter Chinese influence - Bloomberg

10 May 2023, 17:05 | Peace
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The rich countries of the G7 have invited representatives from some of the poorer countries to join this week's meeting of finance ministers and central bankers of the group's members - a rare move to move closer to the Global South and counter the rise of China's influence..

Japan, host of the current G7 meetings, has invited emerging economies such as India, Indonesia and Brazil, as well as Asian countries such as South Korea and Singapore, to join the "

While it is not unusual for non-G7 countries to participate in group meetings, this is the first time since 2009 that financial leaders have been invited to attend..

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The G7 includes the US, UK, Germany, France, Italy, Canada and Japan. Unlike the wider G20, which is trying to agree on joint statements about Russia's invasion of Ukraine, the G7 countries are united in their criticism of Russian aggression..

As economic tensions escalate between Washington and Beijing, the G7 also outlined plans to strengthen supply chain resilience – a hint of less reliance on China in areas including critical minerals and blocking exports of certain types of chip manufacturing equipment.. Expanding ties with the Global South is seen as a way to step up such efforts.

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“With Russia’s invasion of Ukraine and China’s actions, which in many ways involve changing the status quo by force, the alliance or agreement between the G7 is much stronger than before,” says Saori Katada, professor of political science and international relations at the University of Southern California..

However, she doubts that such tactics will help counter the influence of Beijing..

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Recently, Beijing hosted the leaders of Brazil and Southeast Asia in an attempt to conquer the Global South.. China also helped broker a peace deal between Saudi Arabia and Iran..

Last month, Japanese Finance Minister Shunichi Suzuki called the G7 move " Meeting with non-G7 officials scheduled for Friday, May 12.

The last time non-G7 countries were invited to a meeting of the group's finance ministers was in 2009, when Italy invited Russia.

For Japan, three guests of particular interest are South Korea, India and Indonesia.

Japanese Prime Minister Fumio Kishida also ended a landmark visit to Seoul this week, pledging to forge cooperation on technology and pledging to restore trust between the two nations that play a major role in US security policy..

Japan is also deepening its ties with India, which chairs this year's G20, and Indonesia, both major recipients of Japanese foreign direct investment..

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U.S. President Joe Biden's global agenda was previously reported to be facing significant challenges as key developing nations try to avoid participating in America's confrontation with Russia and China, and in some cases exploit that rivalry to their own advantage, classified U.S. intelligence estimates reveal..



It is generally accepted that the confrontation between the United States and its allies with the Russian Federation, which arose as a result of aggression against Ukraine, led to the formation of a new world order.. But this is not so: the war only accelerated the already ongoing processes. The true reason for the global transformations that have been taking place for ten years and right before our eyes was the rise of China, the rise to power of Xi Jinping and his rejection of the philosophy of Deng Xiaoping. Read more about this in the article by Sergei Korsunsky "




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