Financial leaders of the group of Seven (G-7) advanced economies discussed need to make global supply chains more Flexible by limitation over- Accreditation on German Finance Minister Christian Lindner said that China on Friday.
Japan, which hosts the meeting of the Group of Seven major countries for three days of discussion key global themes in the city of Niigata, was leading New efforts to diversify supply chains away from China building partnership with Low and middle income people countries through investment and aid.
countries like Germany wanted to reduce dependency on China, Lindner said at a news conference. Here, the up and down income countries space play,” he added.
But while the wealthy democracies of the G7 are likely to agree on Beef Partnership Deal up Supply chains, they are not on Same page in terms of how Far they are should He goes in face china – world’s second Larger economy This is not a member of the G-7.
The United States is in the lead in to push for more powerful steps. Treasury Secretary Janet Yellen called for targeted controls in Investing in China to counter what it saw as Beijing’s “economic coercion”. against last countries.
while warned of China as a strategic competitor, Germany is cautious, however, of It is seen as forming a G-7 front against Due to Beijing’s great dependence on trade with Country.
Japan also skeptical of the idea of investment controls Because of the massive effect eg move may have him on global trade Especially economyf government officials say.
Japanese Ministry of Finance official who partner in G-7 talks told reporters on On Friday the idea was discussed at the meeting, but Japan’s initiatives did not target any specific country.
UK Finance Minister Jeremy Hunt told the Nikkei on However, on Thursday the G7 will have to confront Chinese economic coercion made Did not mention of investment controls.
Global risks loom
suspended over The meeting was lacking of progress in US solution debt ceiling deadlock.
The G7 countries cannot take any more risks for their fragile economies, and there were some voices of raised concern over Possible severe consequences if the United States wanted to fail to resolve deadlock, who could turn her around economy in recession.
scheduled meeting on It was Friday between US President Joe Biden and senior lawmakers postponed So early next week as the two sides seek a compromise avoid catastrophic default.
German Lindner said he hopes American politicians will come to “up” decision on Talks to raise $31.4 trillion debt roof – th maximum amount United State government allowed to borrow.
World Bank President David Malpass told Reuters risk of US default added to problems already facing the global economy that had been entering for a long time of slow growth.
“It seems like global growth will fall below 2% this year in 2023, but then, as you look at future years, it may remain low for Several years,” because rising Borrowing costs and high levels of debt Malpass said on Friday in Niigata.
Stubbornly high inflation has forced the US and European central banks to aggressively raise interest rates, putting a heavy burden on us on their economies and stoking fears of financial instability yet failure of Three US banks.
the health of the global financial system and other avoidance measures digital bank run Discussed at the G-7 meeting, Japanese Ministry of Finance official He said.
The important thing is that (global financial system) is flexible but we should not be complacent official He said.
G-7 financial leaders are expected issue Joint statement after their three-day meeting on Saturday.
Financial leaders of the group of Seven (G-7) advanced economies discussed need to make global supply chains more Flexible by limitation over- Accreditation on German Finance Minister Christian Lindner said that China on Friday.
Japan, which hosts the meeting of the Group of Seven major countries for three days of discussion key global themes in the city of Niigata, was leading New efforts to diversify supply chains away from China building partnership with Low and middle income people countries through investment and aid.
countries like Germany wanted to reduce dependency on China, Lindner said at a news conference. Here, the up and down income countries space play,” he added.
But while the wealthy democracies of the G7 are likely to agree on Beef Partnership Deal up Supply chains, they are not on Same page in terms of how Far they are should He goes in face china – world’s second Larger economy This is not a member of the G-7.
The United States is in the lead in to push for more powerful steps. Treasury Secretary Janet Yellen called for targeted controls in Investing in China to counter what it saw as Beijing’s “economic coercion”. against last countries.
while warned of China as a strategic competitor, Germany is cautious, however, of It is seen as forming a G-7 front against Due to Beijing’s great dependence on trade with Country.
Japan also skeptical of the idea of investment controls Because of the massive effect eg move may have him on global trade Especially economyf government officials say.
Japanese Ministry of Finance official who partner in G-7 talks told reporters on On Friday the idea was discussed at the meeting, but Japan’s initiatives did not target any specific country.
UK Finance Minister Jeremy Hunt told the Nikkei on However, on Thursday the G7 will have to confront Chinese economic coercion made Did not mention of investment controls.
Global risks loom
suspended over The meeting was lacking of progress in US solution debt ceiling deadlock.
The G7 countries cannot take any more risks for their fragile economies, and there were some voices of raised concern over Possible severe consequences if the United States wanted to fail to resolve deadlock, who could turn her around economy in recession.
scheduled meeting on It was Friday between US President Joe Biden and senior lawmakers postponed So early next week as the two sides seek a compromise avoid catastrophic default.
German Lindner said he hopes American politicians will come to “up” decision on Talks to raise $31.4 trillion debt roof – th maximum amount United State government allowed to borrow.
World Bank President David Malpass told Reuters risk of US default added to problems already facing the global economy that had been entering for a long time of slow growth.
“It seems like global growth will fall below 2% this year in 2023, but then, as you look at future years, it may remain low for Several years,” because rising Borrowing costs and high levels of debt Malpass said on Friday in Niigata.
Stubbornly high inflation has forced the US and European central banks to aggressively raise interest rates, putting a heavy burden on us on their economies and stoking fears of financial instability yet failure of Three US banks.
the health of the global financial system and other avoidance measures digital bank run Discussed at the G-7 meeting, Japanese Ministry of Finance official He said.
The important thing is that (global financial system) is flexible but we should not be complacent official He said.
G-7 financial leaders are expected issue Joint statement after their three-day meeting on Saturday.