Libre: The G7 Summit

THE heads of states of advanced economies in the world met for three days, from Aug. 23-26, 2019, in Biarritz, France for the G7 summit. The seven nations—Canada, France, Germany, Italy, Japan, the United Kingdom (UK) and the US--represent 58 percent of the global net wealth, equivalent to $317 trillion.

Primarily focused on economic policies, the group meets annually to address pressing problems and resolve issues that have global impact. There are those who view the G7 summit as nothing more than a social gathering among leaders highlighted by a photo session and a signed document that contains well-edited general statements. Yet, these rich countries have done some good to the rest of the world in certain times such as granting relief to heavily indebted poor countries, containing the nuclear reactor meltdown in Chernobyl and stemming global financial crises. At one instance, the group allowed Russia to join, thereby creating the G8 summit, only to expel the latter because of its annexation of Crimea.

Last year in Canada, US President Donald Trump bullied his way around the summit. It was described as the “G6+1,” as a pan to Trump’s differing stand on certain issues. This time, thanks to the skillful handling by French president Emmanuel Macron, the Don was somewhat contained, though the resulting G7 Leaders’ Declaration produced a little over 250 very costly words, counting the expenses to put up the powerhouse event.

The following issues were addressed: trade, Iran, Ukraine, Libya and Hong Kong. On trade, the leaders committed to open and fair world trade and to the stability of the global economy. That Trump agreed to this is a hollow victory for the rest of the heads of state, knowing the protectionist stance of the US president and his ongoing trade war with China. Just a few days before the summit, the Don called on American companies to “immediately start looking for an alternative” to doing business with China. He said he had increased tariffs on $US250 billion of imports from 25 to 30 percent starting Oct. 1. This is in response to China imposing retaliatory tariffs on $US75-billion of US imports. If only to add vinegar to the soured relations, the G7 declaration reaffirmed “the existence and importance of the Sino-British Joint Declaration of 1984 on Hong Kong and calls for violence to be avoided.” Quickly China responded by reiterating that the Hong Kong crisis is a domestic issue that is none of the business of the G7.

The G7 summit in France has exposed the disunity and lack of commitment of the member-states to address genuine issues that affect the world today. The UK is drifting as it tries to address its divorce with the European Union (EU). The EU wants to heal its rift with the US over Iran. Probably, this summit will be most remembered for setting aside $20 million to combat the fires that threaten the Amazon.

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