(Update) G-7 to Create Framework against Economic Coercion

   By Yoshiya Sato
   Hiroshima, May 20 (Jiji Press)--The Group of Seven advanced economies Saturday announced a plan to create a new framework to counter economic coercion, expressing serious concern about such practice apparently with Russia and China in mind.
   In a leaders' statement on economic resilience and economic security, the G-7 members said they will create the Coordination Platform on Economic Coercion to increase their response to economic coercion and deepen cooperation with so-called Global South emerging and developing countries.
   "We will enhance resilient supply chains through partnerships around the world, especially for critical goods such as critical minerals, semiconductors and batteries," the G-7 said in the statement, issued during the ongoing G-7 summit in Hiroshima, western Japan.
   The G-7 underscored the importance of cooperation to enhance global economic resilience, including by helping low- and middle-income countries play a more significant role in supply chains.

(2023/05/20-16:36)

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