Individuals rally in a protest towards the Group of Seven (G7) summit in Hiroshima, Japan, Might 20, 2023. (Xinhua/Zhang Xiaoyu)
The Group of Seven, with considerably weakening financial heft, is unable to signify the world, but they’ve didn’t withstand the overall pattern of the instances and fixated on Chilly Struggle mentality.
HIROSHIMA, Japan, Might 20 (Xinhua) — On the Group of Seven (G7) Summit beginning right here Friday, the U.S.-led clique is once more hyping up their so-called “regulation and order,” whereas political observers have exactly debunked the essence of their lies — a scheme to play small-clique politics and dictate to the remainder of the world.
U.S. UNDERMINING FREE TRADE
The G7 on Saturday issued an announcement regarding financial resilience and safety, threatening to counter “financial coercion,” which is able to de facto divide the world into two markets and two programs in such areas as semiconductors and significant minerals below the pretext of decreasing dependence on China.
As reported by the Monetary Occasions, “the co-ordination on China follows two years of efforts by the Biden administration, helped by Japan.” America is the primary offender in lulling its allies into unplugging from China, which constitutes a severe violation of the ideas of free commerce and market financial system and can hurt international financial improvement.
The longer-term price of commerce fragmentation might attain as much as 7 p.c of world output and a few international locations might see losses of as much as 12 p.c of GDP in case of extra technological decoupling, the Worldwide Financial Fund stated in a report in January.
America has been attempting to jeopardize the Chinese language financial system via numerous means together with commerce wars, however the ever-growing China-U.S. commerce in itself demonstrates that U.S. companies and other people want commerce with China, Kazuteru Saionji, a visiting professor at Higashi Nippon Worldwide College, instructed Xinhua in a latest interview.
“By dragging the G7 bloc to suppress China below the pretext of de-risking this time, the nation is conducting an atrocity intentionally undermining free commerce and the world financial division of labor system,” the professor famous.
Current years have seen the G7, also called “the wealthy membership,” struggling an irreversible decline of nationwide energy. The Japanese newspaper Nihon Keizai Shimbun reported that the G7’s share of the worldwide financial system has fallen from practically 70 p.c within the Nineteen Eighties to at present about 40 p.c, which reveals no signal of ceasing to say no.
Individuals rally in a protest towards the Group of Seven (G7) summit in Hiroshima, Japan, Might 19, 2023. Amid waves of protests, the G7 leaders’ annual summit obtained underway in Hiroshima on Friday. (Xinhua/Zhang Xiaoyu)
The G7, with considerably weakening financial heft, is unable to signify the world, but they’ve didn’t withstand the overall pattern of the instances and fixated on Chilly Struggle mentality, stated Japanese political observers.
“The G7 has descended into a bunch of old style international locations clinging to the so-called established worldwide political order,” stated Atsushi Koketsu, emeritus professor at Yamaguchi College of Japan, including that with the worldwide neighborhood transferring ahead to pluralism, the G7’s relentless efforts to go towards the pattern of the instances will undoubtedly trigger imbalance and injustice within the worldwide neighborhood.
“The period when the US and different G7 nations management world politics, financial system and navy has come to an finish,” famous Saionji.
EFFORTS TO DIVIDE WORLD DOOMED TO FAIL
The G7 additionally vowed to intensify sanctions towards Russia and intensify diplomatic, monetary, humanitarian and navy assist for Ukraine, and condemned Russia within the strongest doable phrases within the G7 Hiroshima Leaders’ Communique issued Saturday.
Kumiko Haba, professor of Kanagawa College, identified that the US has benefited tremendously from the Ukraine disaster, which has consolidated its hegemony by taking a positive place in worldwide navy, financial system and politics throughout the disaster.
On the Ukraine difficulty, China has at all times been selling peace talks whereas the G7 has been impeding China’s efforts, stated Koketsu, including that apparently, so long as the G7 is bent on offering navy assist to Ukraine, the battle and rigidity will linger on.
Japanese Prime Minister Fumio Kishida attends the ceremony of the venue for World Expo 2025 at Osaka’s Yumeshima synthetic island in Osaka, Japan, April 13, 2023. (Xinhua/Zhang Xiaoyu)
Previous to the G7 summit, Japanese Prime Minister Fumio Kishida stated in an interview with native media that China and Russia shouldn’t be allowed to unilaterally change the established order, a stance that was extensively questioned and refuted by students and analysts.
Kishida added that he takes the summit as a possibility to ship this message to the worldwide neighborhood.
The Japanese chief’s declare that “Taiwan contingency is a contingency for Japan” merely follows the U.S. navy coverage of encircling China unconditionally, as Japan is pushing for navy integration with the US, stated Koketsu.
His opinion was echoed by Saionji, who identified that such a crisis-inciting assertion will enhance tensions in East Asia and hinder regional peace.
As East Asian international locations oppose inciting confrontation and creating regional rigidity, the US and Japan’s ploy of utilizing the Taiwan query to assault China is doomed to fail, stated Saionji.■