Group of Seven Focus in on World Issues

Group of Seven (G7) international leaders met in a two-day summit to focus in on the most pressing issues facing the world. The group consists of the leaders of Britain, Italy, France, Germany, Canada, Japan and the United States. The summit began on May 26, 2016, and concluded on May 27, 2016, in Ise-Shima, Central Japan. The Group of Seven concentrated on these key topics: extremism, terrorist attacks, refugees and world economics. The leaders also addressed territorial claims by China over a small group of islands in the South China Sea.

The Group of Seven worked on compromises regarding global economics. Several countries are experiencing slowed growth in their national economies. Japan’s prime minister, Shinzo Abe, expressed that there should be a recognition of the parallels between the world’s current financial place and the global financial crisis that occurred in 2008. Japan has been unable to increase the national sales tax because of economic deflation. Japan has also been in conflict with China and the United States regarding a desire to interfere with the rise of the yen in the market exchange. The Group of Seven addressed global economics in a 32-page declaration released at the conclusion of the meetings. The statement confirmed that the group made compromises to strengthen their economies and to work together to avoid another crisis. The declaration broadly covered a plan to allow market-based exchange rates and to avoid “competitive devaluation” of their currencies.

The group also indirectly addressed territorial issues with China and the island territories over which they are in dispute. The topic is a sensitive one and has garnered a strong response from China. There are several islands in the South China Sea that are being claimed by the Philippines, Malaysia, Vietnam, and Brunei, and all have competing claims with China. Donald Tusk, European Council president, released a statement to the press that any matter concerning maritime territory claims would need to be handled following international laws and will need to be resolved peacefully. China believes that the involvement from outside countries would only increase tensions on the matter. China is not a part of the G7, but, because of their economic power, they are included in the summit. Reuters reported that China was disappointed regarding the remarks released by the Group of Seven regarding the territorial disputes. Ministry spokeswoman Hua Chunying told the press that they will follow G7 international protocols when it comes to economics. However, China’s territorial disputes are not their concern.

Nuclear weapons were also an area of focus for the group. North Korea is being called on to stop building nuclear weapons and performing missile tests. To further emphasize the importance of removing nuclear weapons from the world, President Obama visited Hiroshima on the last day of the summit. Obama is the first sitting president to visit Hiroshima.

The Group of Seven closed the summit by releasing a statement encompassing the concerns they covered over the two days together. They pointed out that issues of terrorism, the refugee crisis, and extremism all threaten the known world. The powerful group plans to continue to focus on developing solutions to address global concerns.

By Gichele Cocrelle

Sources:
AFR Weekend: Group of Seven Summit Backs Growth and Plays Down Currency Tension
Reuters: China Says Extremely Dissatisfied with G7 statement on South China Sea
CNN: Obama in Hiroshima calls for ‘World without Nuclear Weapons’

Photo Courtesy of geralt’s Pixabay page – Creative Commons License