A G7, the one started in Japan, which sees the leaders of the United States, Japan, Germany, the United Kingdom, France, Canada and Italy address thorny and complex issues such as nuclear disarmament, the issue of semiconductors and the advent of artificial intelligence . No less important are the issues related to climate change, the South of the world, Chinese expansionism and the Russo-Ukrainian war.
As far as semiconductors are concerned, it is in the common interest to disengage from Chinese dependence as soon as possible. In this regard, the Japanese premier Kishida announced that he had launched huge investments to participate in the group of seven semiconductor giants from Taiwan, the USA and South Korea.
The White House is certain it has an historic level of unity on China in this G7. On the table of the final declaration on Sunday the issue of Chinese economic coercion. However, not all partners could agree with Washington to cut sharply with China in terms of trade. Germany and Japan have shown clear uncertainty in committing to the opposite direction on the matter of investments to and from China.
Beijing, not surprisingly, is hosting a summit with its Central Asian allies these days to prevent a possible decrease in revenues from trade, criticizing American coercive diplomacy against Beijing and admonishing the G7 countries to respect the principle of the One China, with reference to the Taiwan dossier.
The United States, in its view, pursues the narrative of G7 unity on Ukraine and the success of the price cap policy on Russian oil. The US is therefore ready to propose a new package of sanctions on Russia, which includes 70 new entities on the export blacklist, including Chinese companies that help Moscow in the war effort.
There is concern for the southern hemisphere where China has been implementing an aggressive economic policy for years and where Washington wants to channel the interests of partner and allied countries.
The peace of the ongoing war will be discussed in the final communiqué, without delving into the issue too much due to a peace that is difficult to achieve at the moment given the obvious differences between the two contenders who do not want to give up their territorial claims and retaliation.
However, America appears weak at this summit due to fears linked to the forthcoming American elections and the risk of default due to internal frictions on the maximum ceiling to be placed on the stars and stripes debt.
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