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G7: Agreement on a “new initiative” to combat financial coercion

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G7: Agreement on a “new initiative” to combat financial coercion

leaders of the G7 (G7) of the most advanced industrialized nations agreed today to launch a new initiative in response to economic coercion and pledged to take steps to ensure that anyone who attempts to use economic dependence as a weapon fails and faces the consequences.

titled initiative Economic Coercion Coordination Platform It will use early warning and rapid information sharing on economic coercion, and its members will meet regularly for consultations, the leaders said in a statement.

“The world is witnessing an alarming increase in episodes of financial coercion that attempt to exploit financial hardship,” the G7 leaders said in a statement after their meeting in Hiroshima, Japan.

Not named in the application. ChinaHowever, in details released yesterday, Friday, the British government pointed to China’s attempts to use its economic power in political conflicts with Australia and Lithuania.

In a statement The G7 leaders also pledge to deepen cooperation to strengthen supply chains and call for a greater role for low-income countries. promote economic sustainability.

The leaders called on all countries to adopt the principles of “transparency, diversification, security, resilience, trust and reliability” when building supply chain networks.

The G7 also agreed to deepen cooperation in the field of information exchange, seeking to set new standards for next-generation technologies.

According to APE-MPE and Reuters

Author: newsroom

Source: Kathimerini

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