G7 leaders gather in Italy as Ukraine war, Gaza conflict and Chinese overcapacity top agenda

all right Sarah we appreciate it as always Sarah Coats in Tel Aviv live now leaders of the G7 nations are meeting in southern Italy this week with the agenda dominated by plans to leverage 300 billion dollars of Frozen Russian assets to help Ukraine’s war effort now the group is also expected to discuss the conflict in Gaza and ways to push back against Chinese overcapacity and its effect on Western economy from Rome J Gibson takes a look at the key issues on the table the G7 has spent months trying to work out how it can use frozen Russian Assets in the west legally to help Ukraine they appeared close to a breakthrough at a meeting of Finance ministers last month with the US pushing for loans that would be secured against the future profits of the assets the finals say though lies with their bosses flying into Southern Italy this week at the same time as trying to support Ukraine G7 leaders are nervously watching the ongoing conflict in Gaza the group was initially United in its supports for Israel after the Hamas attacks last year there are now clear signs that Unity is splintering although the US remains Israel’s most significant backer by far Italy France have expressed a strong desire for the war to wind down and and be brought to an end uh Japan has even expressed strong push for for Israeli government to respect the icj uh decision so positions are becoming more nuanced as we’ve seen it in the past few months as the situation on the ground and the humanitarian uh situation becomes dire previous G7 Summits there’s been a lot of talk about drisking economic ties with China but the buzzword is overc capacity the US has hiked tariffs on Chinese electric vehicles and the European Union has opened a series of Investigations into State subsidies for EVS solar panels and other products over capacity it’s a very simple concept uh the Chinese are producing way more than their internal Market are able uh to consume what the G7 uh country are stressing is that towards uh State incentives the Chinese economy has been able to produce to a certain level which nowadays it put all the other economy in Peril Beijing says Western capitals are exaggerating the threat of overcapacity and while the G7 is not expected to introduce coordinated tariffs or sanctions their individual trade policies are only getting tougher on China over the course of its presidency Italy has invited guests to join ministerial meetings in glitzy locations like the island of cpri Pope Francis once the subject of deep fake images showing him wearing a Papal puffer jacket is joining the leaders in pulia to discuss the risks of artificial intelligence leaders from Africa will also take part another example of the g7’s attempts to push back against the growing influence of China around the world we’re only just halfway through Italy’s G7 presidency and there are still other lower level ministerial meetings coming up later this year but the success of the Maloney government’s tenure when it comes to the G7 will largely be judged by what’s in a single document The Joint statement at the end of this Summit Giles Gibson CNA

Leaders of the G7 nations are meeting in southern Italy this week, with the agenda dominated by plans to leverage $300 billion of frozen Russian assets to help Ukraine’s war effort. The group is also expected to discuss the conflict in Gaza, as well as ways to push back against Chinese overcapacity and its effect on western economies. Giles Gibson takes a look at the key issues on the table.

25 comments

  1. Singaporean kids and potential scholars are consuming this kind of low-quality news from the mini-BBC since first day they started to watch/read news.
    Ha ha ha!

  2. Meanwhile Russian submarine is heading to Cuba and that reminds us all of 1962 Cuban missile crisis and thats not good at all

  4. China 🇨🇳 has an industrial overcapacity issue, whether in abandoned cars or empty apartments.
    China's EV makers are having trouble paying their bills, a similar situation that happened to Evergrande and Country Gardens.

  5. Together with Russia, China must pay for the reparation of Ukraine 🇺🇦 for its "no limits" support, funding, and arming of the Russian invasion.

  6. The G7 is complicit in the genocide in Gaza while promoting a fake genocide in Xinjiang and claiming to care about "human rights" and "democracy" in Hong Kong.

  8. G7 meeting:

    Focus On geopolitics for politicians interest.

    To divide and create/amplify conflict in others home for weapon sales, exploit.

    BRICS meeting:

    Focus On economy for the people interest.

    Food and better life for the people.

  9. lol, it takes China's growing influence in Africa for G7 to invite African leaders….how genuine

  10. A nuclear-powered Russian submarine and three Russian warships arrived in Havana, Cuba, Wednesday to conduct military exercises.
    U$A has overreact by sending more war ships near Cuba.

    Even drag CANADA war ship with them.

  11. 2024-6-10 The World Bank raised China's economic growth forecast for 2024 from 4.5% to 4.8%, mainly due to stronger-than-expected export growth.

  12. Every G7 meeting discuss 2 topics : (1) How to raise more funds to Ukraine to win the war against Russia (2) How to further impose sanctions against CHINA to stay relevant.
    BRICS discuss among members how to increase trade, built infrastructure and enhance living standard of members. So how relevant is G7 toward global economy ???

  20. ORTANOVA. FOGGIA. CERIGNOLA. TERRIBLE. GANGSTER. OF. ITALY. MAFIA.
    THE. LIFE BELT. AMERICA IS. RAF. UK. IN. ITALY. GIBILTERRA. UK. SUEZ. US. NAVY. AGAINST. AGAINST. ITALY. CINA. POWER. MAFIA. CINA. IN THE. WORLD. AUTO. ELETTRIC. XXI.

  24. All are colonizers…see what happening in PALESTINE…UKRAINE ….STOp arming and creating conflict that brabing that u will solve issues

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