The Group of Seven (G7) wealthy nations are looking to de-risk and not decouple from China, as per a senior US official. G7 leaders are most likely to issue a statement when it comes to a shared approach on strategies to collaborate with China and at the same time address prominent concerns about a string of areas, said Jake Sullivan, the National Security Advisor of the White House.
As per him, the G7 leaders have gone ahead with the planning of outlining steps so as to safeguard sensitive technology, such as outbound investment measures, in a joint statement.
The communiqué shall note that each nation happens to have its own bonding as well as approach, but they are all united and in sync with the set of elements that are common. Sullivan was addressing reporters at the summit in Hiroshima.
The issues are no different and are well-known
According to Sullivan, there is no statement or outcome in the G7 summit that should come as a surprise when it comes to China, given the fact that the G7 members happen to be well-known to Beijing.
He added that he thinks the China language is absolutely straightforward. It is neither gratuitous nor hostile, but just completely candid. The statement has emerged after thorough consultations that have taken place with the G7 partners in recent years.
Sullivan further said that the US anticipated the continuation of economic engagement with China, but it was still working on the timing when it came to planned phone calls, meetings, and visits of various administrative officials as well as their counterparts from China.
In a final communiqué draught that was rolled out earlier and as seen by Reuters, the G7 leaders did agree that China’s status as the second largest economy in the world required efforts so as to push cooperation. Sullivan remarked that their policy approaches were not at all designed to hurt China, as there is no intention to thwart China’s progress or development. This draught by Sullivan is still subject to change, calling for a more stable and constructive collaboration with Beijing.
Tools that are common to take care of economic coercion
As per Sullivan, G7 leaders would go ahead and outline a standard set of tools when it comes to addressing economic coercion, such as steps so as to build more robust supply chains as well as endeavours to safeguard tech that is sensitive by way of export controls as well as measures that concern outbound investment. The fact is that each country will go on to gauge its own approach. The US has been engaging in order to develop the legal authorities for a set of outbound investment controls that are targeted and would push an approach after full consultation with the partners at the G7.