A man rides his bicycle past a “G7 Hiroshima” flower sign at the Peace Memorial Park in Hiroshima, ahead of the G7 Leaders’ Summit, on May 17, 2023. (Photo by Philip FONG / AFP) (Photo by PHILIP FONG/AFP via Getty Images)
Philip Fong | Afp | Getty Images
The annual Group of 7 summit officially kicks off on Friday in Hiroshima, Japan.
Leaders of the seven major industrial democracies – Canada, France, Germany, Italy, Japan, United Kingdom, and United States – will discuss the future of global relations and the world economy as it faces a number of uncertainties: growing geopolitical tensions, central banks’ combat against rising inflation and a U.S. debt ceiling deadlock.
Also under the spotlight are the countries invited for the gathering, including Australia, Brazil, India, Indonesia, South Korea, and Vietnam – nations with pivotal roles to play in regional alliances as the rift between Washington and Beijing deepens.
Leaders will gather in Hiroshima, a Japanese city devastated by the first atomic bomb used as a weapon of war by the U.S. in 1945, which killed hundreds of thousands of civilians during World War II.
Nearly eight decades later, the city will this week welcome world leaders to discuss the path forward for international trade and security as the U.S. and China battle for influence in a multipolar world amid concerns of their decoupling, and as a war continues in Ukraine.
A sign of G7 Hiroshima Summit is pictured in Hiroshima, ahead of the G7 Leaders’ Summit, on May 16, 2023. (Photo by Philip FONG / AFP) (Photo by PHILIP FONG/AFP via Getty Images)
Philip Fong | Afp | Getty Images
The Group of 7, which was born to discuss policies to deal with economic crises in the 1970s, meets at a crucial time of slowing global growth amid rising inflation.
G-7 finance leaders and central bankers finalized a three-day meeting in Niigata last week. They pledged to combat rising costs and ensure expectations on future price moves remain “well-anchored.”
“If you think…
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