G-7 Latest: Group Seeks to Lower China Risks, Zelenskiy Arrives

(Bloomberg) – Leaders from the Group of Prosperous Seven democracies focused on China’s role in the global economy, unveiled a new mechanism to combat what they see as economic coercion and looked at ways to reduce the risks of the Asian giants for their supply chains.

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The final communiqué from the summit in the Japanese city of Hiroshima, seen by Bloomberg News, called for stable ties with Beijing as leaders pushed for a level playing field “for our workers and businesses”. The group went to the summit to send a signal to Beijing that they are united in opposing what they see as hostile actions by President Xi Jinping’s government on the economic front, a view China rejects.

Volodymyr Zelenskyy arrived on Saturday for a high-level visit, trying to enlist the support of middle powers like Brazil and India while building on support from the US and its allies as Ukraine prepares a counter-offensive against the Russian invasion.

Current reporting

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(All times JST)

Zelenskyy arrives at Hiroshima Airport (15:44)

Live video images showed Zelenskiy stepping off a French plane at Hiroshima Airport and shaking hands with some dignitaries on the tarmac. He got into a vehicle that was part of a large motorcade heading into the city under tight security.

Zelenskyy arrives in Japan and will meet guests on the sidelines of the G-7 summit

G-7 Eyes China With Economic Coercion Plan (2:23 p.m.)

The G-7 have launched a new joint mechanism to counter economic coercion, a measure primarily targeting perceived hostile actions by China. The leaders met on the issue and in their subsequent statement did not mention China by name but called the increase in economic coercion “worrying”.

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The joint mechanism will “combat the increasing and harmful use of economic coercion to interfere in the sovereign affairs of other countries,” the UK government said in a statement. It added that China has used its economic power to “coerce countries like Australia and Lithuania over political disputes.”

G-7 Eyes China in New Joint Effort Against Economic Coercion

G-7 Seeks Stable China Ties While Decreasing Risk (2:14 p.m.)

G-7 leaders said they wanted “constructive and stable” ties with China, even as they advance steps to reduce dependence on Beijing for critical supply chains, according to the copy of the final communiqué seen by Bloomberg .

“Our policies are not aimed at harming China, nor are we trying to thwart China’s economic progress and development,” said the communiqué, which is due to be released at the G-7 summit in Hiroshima by Sunday.

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G-7 strives for stable relations with China while reducing risk, the release said

Japan Pledges Visa Waiver and Health Loans for Brazil (2:00 p.m.)

Japanese Prime Minister Fumio Kishida met Brazilian President Luiz Inacio Lula da Silva and informed him that Tokyo will initiate procedures to waive the visa requirement for short-stay Brazilian citizens, Japan’s foreign ministry said in a statement. Kishida also announced a JPY 30 billion (US$217 million) loan to support healthcare and other sectors in Brazil.

Kishida Talks Territorial Integrity with Modi and Jokowi (11:48 am)

According to the Japanese government, during his meetings with Indian Prime Minister Narendra Modi and Indonesian President Joko Widodo, Kishida underscored the importance of safeguarding sovereignty and territorial integrity under the UN Charter. The Foreign Ministry said he had exchanged views with Brazilian President Luiz Inacio Lula da Silva about Ukraine and the situation in East Asia.

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The meetings came as Zelenskyy was en route to Hiroshima and after G-7 leaders released a statement on Friday calling on Russia to withdraw its troops unconditionally from Ukrainian territory.

Japan confirms Zelenskyy’s visit (9:30 a.m.)

The government officially announced that Zelenskyy would personally attend the G7 summit. The decision came after he expressed a strong desire to meet other leaders in person. Zelenskyy will attend two sessions on Sunday, one on Ukraine with G-7 leaders and one on peace and stability, also attended by other invited leaders.

He will also meet Kishida for bilateral talks.

Kishida meets Modi for talks (8:29 am)

Kishida met Modi to discuss trade and economic relations. Modi, one of several other nations’ leaders invited to the G-7 meeting, will also speak with Zelenskyy in the Japanese city for their first face-to-face meeting since Russia’s invasion of Ukraine.

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India has been a major buyer of Russian oil and arms, supplying hard currency to Vladimir Putin’s government while the G-7 seeks to withhold funds from the Russian economy. It is the so-called quad grouping with Australia, Japan and the USA, whose heads of state and government will also meet in Hiroshima. The group is seen as a counter force to Chinese assertiveness in the Indo-Pacific region.

What is the “Quad” and should China be afraid of it?: QuickTake

Biden plans $375m military package for Ukraine: Politico

Biden is expected to announce a new aid package for Ukraine after his meeting with Zelenskyy at the G-7 summit, Politico reported, citing three US and Ukrainian officials. According to Politico, the $375 million package will include more artillery shells, armored vehicles and anti-tank weapons.

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China warns Trudeau against ‘provocation’ (4:19 a.m.)

China’s ambassador to Canada urged Prime Minister Justin Trudeau to avoid further “provocations” as Canada weighs whether to open a public inquiry into allegations that the Chinese government interfered in its election.

Ambassador Cong Peiwu said Canada should consider a return to a more independent foreign policy rather than following the lead of the US, its neighbor and largest trading partner. He also warned of US efforts to join forces with allies to combat “economic coercion”.

China warns Trudeau against ‘provocation’ after diplomatic row

“The United States is calling on these allies to form some kind of small group and take action to suppress China’s development,” he said. “I think that’s dangerous.”