Page 6 - G7
S Korea, Japan use G-7 to push improvement in ties long marked by animosity
Amid the high-level efforts to deal with a raft of global emergencies, this weekend's Group of 7 summit of rich democracies will also see an unusual diplomatic reconciliation as the leaders of Japan and South Korea look to continue mending ties that have been marked for years by animosity and bickering. At first glance the two neighbours would seem to be natural partners. They are powerful, advanced democracies and staunch US allies in a region beset with autocratic threats. The continuing fallout, however, from centuries of complicated, acrimonious history, culminating in the brutal 1910-1945 Japanese colonization of the Korean Peninsula, has resulted in more wariness than friendship. A big part of the sudden recent shift in tone is a shared focus on China's growing aggressiveness, t he threat of North Korea's fast-improving arsenal of nuclear-capable missiles and deep worry about how Russia's war in Ukraine is influencing both issues. Some diplomatic nudging by Washington, which
G7 and European Union plan to ban restart of Russian gas pipelines
4 Russian military aircraft crash near border with Ukraine
Kishida, counterparts from G-7 to issue statement on economic coercion
Prime Minister of Japan Fumio Kishida and his counterparts from the Group of Seven (G7) leading democracies are seeking to issue a separate statement with language opposing economic coercion
G7 finance leaders say greater economic uncertainty requires vigilance
The Group of Seven's top financial leaders united Saturday in their support for Ukraine and their determination to enforce sanctions against Russia for its aggression but stopped short of any overt mention of China. The finance ministers and central bank chiefs ended three days of talks in Niigata, Japan, with a joint statement pledging to bring inflation under control while aiding those suffering the most from surging prices. They also committed to collaborating to build more stable, diversified supply chains for developing clean energy sources and to enhance economic resilience globally against various shocks. The statement did not include any specific mention of China or assertions regarding economic coercion in pursuit of political objectives, such as penalizing the companies of countries whose governments take actions that anger another country. Talk this week of economic coercion by China had drawn outraged rebukes from Beijing. Officials attending the talks in this port city
G7 Finance Ministers to meet in Japan to tackle threat from US debt ceiling
The financial leaders of the Group of Seven wealthy nations will meet in Japan beginning on Thursday as a standoff over the US debt ceiling looms as one of the biggest potential threats to the global economy. Treasury Secretary Janet Yellen said one of her priorities in Niigata, a port city on the Japan Sea coast, would be to emphasise the importance of resolving the standoff over the national debt. I will underscore the importance of Congress acting to resolve the debt limit to maintain America's economic leadership and protect the global economy, Yellen said in a tweet Thursday. Yellen also is bound to be seeking to reassure her counterparts over recent bank failures that have raised worries over risks for the global financial system. The finance ministers and central bank governors are meeting for three days ahead of a G-7 summit later this month in Hiroshima. President Joe Biden said on Wednesday that he and congressional leaders had a productive meeting Tuesday on trying to r
FM Nirmala Sitharaman leaves for 2-day visit to Japan to attend G 7 meeting
Finance Minister Nirmala Sitharaman on Wednesday embarked on an official two-day visit to Niigata, Japan, to attend a G7 meeting. India is an invitee to G 7 Finance Ministers and Central Bank Governors meeting. "During her visit, FM Smt.@nsitharaman will also have multilateral and bilateral engagements with her counterparts, besides a roundtable meeting with business leaders and investors," a finance ministry tweet said. During her trip, she will address investors and business leaders in Tokyo. Besides, she will address a seminar on 'Economic Policy in Pursuit of Welfare' at the Finance Ministers and Central Bank Governors (FMCBG) meeting while two other sessions--Tackling Immediate Challenges Facing Developing Countries and Strengthening International Cooperation for Sustainable and Inclusive Growth. The G7 is a forum of leading industrialised nations--Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Representatives of the European Union are alway
G7 biz group endorses India's G20 theme 'One Earth, One Family, One Future'
Top business executives of G7 countries have endorsed India's G20 theme of 'One Earth, One Family, One Future' and said it is essential to achieve sustainable growth that is compatible with the protection of the global environment. Unveiled by Prime Minister Narendra Modi last year, the theme of India's G20 Presidency - 'Vasudhaiva Kutumbakam' or 'One Earth, One Family, One Future' - is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life - human, animal, plant and microorganisms - and their interconnectedness on the planet Earth and in the wider universe. Representative business federations of the G7 - Japan, Italy, Canada, France, the US, the UK, Germany, and the European Union - held the B7 Tokyo Summit on April 19-20, ahead of the G7 Summit meeting in Japan later this month. "Through creating a problem-solving society that is equipped with both digital technology and creativity and imagination of diverse people, it is
G7 nations agree on 'risk-based' artificial intelligence regulation
Governments have especially paid attention to the popularity of generative AI tools such as ChatGPT
PM Modi to join US Prez Biden, attend G7, Quad summits in Japan, Australia
Prime Minister Narendra Modi is set to join US President Joe Biden and his counterparts from Australia and Japan at a summit of the Quad leaders in Sydney on May 24 that is expected to focus on implications of the Ukraine conflict and the overall situation in the Indo-Pacific. Before travelling to Australia, Modi is likely to visit the Japanese city of Hiroshima to attend the annual summit of the Group of Seven (G7) advanced economies that is scheduled to take place from May 19 to 21, people familiar with the matter said on Wednesday. During his visit to India last month, Japanese Prime Minister Fumio Kishida invited Modi for the G7 summit. In their summit, the Quad leaders are also expected to bolster overall cooperation in the Indo-Pacific, a region that has been witnessing growing Chinese military assertiveness. The White House on Wednesday said President Biden will attend the G7 leaders' summit in Hiroshima as well as the Quad summit in Sydney. From Japan, Modi may travel to a
Russia's Medvedev warns Moscow will scrap grain deal if G7 bans exports
The Group of Seven (G7) countries are considering a near-total ban on exports to Russia
BRICS surpass G7 GDP, India, China major economies with fast growth
The inflationary pressures, coupled with relentless rate hikes by central banks around the world, have hit Europe hard
'No impunity': G7 vows tough, unified stance on Russia-Ukraine war
Top diplomats from the Group of Seven wealthy democracies vowed a unified front against Chinese threats to Taiwan and Russia's war of aggression in Ukraine, saying at the close of their meetings Tuesday that they were committed to boosting and enforcing tough sanctions against Moscow. The G-7 communique laying out their commitments also included strong words over an unprecedented run of North Korean missile tests. But it was China's growing assertiveness in Asia and Russia's invasion of Ukraine that highlighted the three-day summit hosted by Japan in this hot springs resort town. There can be no impunity for war crimes and other atrocities such as Russia's attacks against civilians and critical civilian infrastructure, the ministers said. We remain committed to intensifying sanctions against Russia, coordinating and fully enforcing them, the communique said, and would support for as long as it takes" Ukraine as it defends itself. The foreign ministers' communique was prepared as a
G7 FMs vow to address global challenges through collective action
The Ministers are also committed to promoting free and fair trade, stating that it is key to resilient and sustainable development for all, particularly the most vulnerable
G7 ministers in Japan reiterate cooperation with India in Indo-Pacific
The comments mark the culmination of a three-day long meeting that were held in Karuizawa, Nagano in central Japan and comes ahead of the G7 leaders' summit to be held in Hiroshima this May
No impunity: G7 vows tough, unified stance on Russia's war on Ukraine
Top diplomats from the Group of Seven wealthy democracies vowed a unified front against Russia's war of aggression in Ukraine, saying at the close of their meetings on Tuesday that they were committed to boosting and enforcing tough sanctions against Moscow. The G-7 communique laying out their commitments also included strong words meant to curb what the ministers see as increasing Chinese and North Korean aggressiveness in Northeast Asia. But it was Russia's invasion of Ukraine that highlighted the three-day summit in this hot spring resort town. There can be no impunity for war crimes and other atrocities such as Russia's attacks against civilians and critical civilian infrastructure, the ministers said. We remain committed to intensifying sanctions against Russia, coordinating and fully enforcing them, the communique said, and would support for as long as it takes" Ukraine as it defends itself. The foreign ministers' document was prepared as a template for global leaders to use
G7 nations to reduce global GHG emissions by 43% by 2030, 60% by 2035
G7 countries commit to "fully" or "predominantly" decarbonise their power grids no later than 2035 and accelerate the phase-out of domestic unabated coal power
G-7 envoys urge tough stance on Chinese, North Korean aggression
Top diplomats from the Group of Seven wealthy democracies are tackling two major worries in Northeast Asia, vowing a tough stance on China's increasing threats to Taiwan and North Korea's unchecked tests of long-range missiles. Another major crisis, Russia's war in Ukraine, will also consume the agenda Monday as the diplomats gather in this Japanese hot spring resort town for Day Two of talks meant to pave the way for action by G-7 leaders when they meet next month in Hiroshima. For the American delegation, the meeting comes at a crucial moment in the world's response to Russia's invasion of Ukraine and efforts to deal with China, two issues that G-7 ministers from Japan, the United States, the United Kingdom, France, Germany, Canada, Italy and the European Union regard as potent challenges to the post-World War II rules-based international order. A senior U.S. official travelling with U.S. Secretary of State Antony Blinken told reporters that the Biden administration's goal for the
Despite no-carbon ambitions, G7 fails to set date for ending coal power use
More aggressive moves to reduce carbon emissions remain a highlighted difficulty for G7 as the world's major industrialised economies continue to clash on coal
G7 vows to phase out fossil fuels, sets no date for ending coal power use
The Ukraine crisis caused prices of oil and gas to soar and pushed some importers to shift to coal and natural gas, slowing efforts to cut greenhouse gas emissions
G7 ministers set ambitious new targets for solar and wind capacity
G7 ministers finish two days of meetings on climate, energy and environmental policy in the northern Japanese city of Sapporo on Sunday
