G7 countries say they will depend less on China

The leaders of the G7 nations have stated their intentions to reduce their reliance on China, but they have also clarified that they do not intend to completely sever ties with the world's second-largest economy. While acknowledging the need to decrease dependencies on China.

The G7 leaders gathered in Hiroshima for their yearly summit and shared their official statement, on Saturday.

The document states that the policy approaches of the G7 nations are not intended to cause harm to China or hinder its economic progress and development. Instead, they emphasize that a thriving China that follows  international rules would be beneficial for the global economy.

The G7 leaders' meeting takes place amidst a period of global uncertainty, which has been further intensified by geopolitical tensions involving China and Russia.

The leaders expressed their willingness to establish "constructive" relations with China, while also highlighting their intention to safeguard their own interests. To achieve this, they emphasized the importance of collaborating together to counter economic coercion and to oppose unfair practices.

In recent statements, Chinese Foreign Ministry spokesperson Wang Wenbin claimed that China itself has been a victim of economic coercion.

During a routine news briefing, Chinese Foreign Ministry spokesperson Wang Wenbin expressed the view that if any country deserves criticism for engaging in economic coercion, it should be the United States. Wang claimed that the U.S. has been excessively broadening the notion of national security, imposing export controls, and implementing discriminatory and unfair measures against foreign companies.

The communique also addresses the issue of foreign interference, which reportedly received support from Canada.

During a media briefing prior to the release of the communique, an official stated that Prime Minister Justin Trudeau raised the issue of foreign interference during the summit and discussed it with other leaders.

The document asserts the call for China to adhere to its obligations outlined in the Vienna Convention on Diplomatic Relations and the Vienna Convention on Consular Relations. It specifically urges China to refrain from engaging in activities that interfere with the security, safety, democratic institutions, and economic well-being of the G7 member countries.

In their communique, the G7 leaders expressed their commitment to supporting Ukraine in the face of Russia's ongoing conflict and stated that they will continue to provide assistance for as long as it is required.

Alongside the release of the communique, Canada has announced significant investments aimed at supporting individuals in emerging economies and developing nations.

These investments, amounting to hundreds of millions of dollars, will be allocated towards initiatives addressing crucial areas such as climate change, energy, food security, and women's issues.