China's rising clout spotlighted at finance chief meetings before G7 summit - SABC News

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The weekend gathering of finance chiefs from the Group of Seven (G7) advanced economies did not single out China as a threat in their communique, but left signs the world’s second-largest economy will loom large at this week’s summit in Hiroshima.

FILE PHOTO: Lines of trucks are seen at a container terminal of Ningbo Zhoushan port in Zhejiang province, China, August 15, 2021.FILE PHOTO: Lines of trucks are seen at a container terminal of Ningbo Zhoushan port in Zhejiang province, China, August 15, 2021.

“What’s going on at the G7 is reflecting changes in global order following the loss of the US dominance,” said Masamichi Adachi, economist at UBS Securities.G7 host Japan persuaded its G7 counterparts to launch a new programme by the end of 2023 to diversify supply chains for strategically important goods away from China. The G7 comprises the United States, Britain, France, Japan, Italy, Germany and Canada.

Japan followed suit, with Prime Minister Fumio Kishida visiting Egypt, Ghana, Kenya and Mozambique this month.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 37. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tax woes force Ascendis Health subsidiary into business rescueGroup warned in March that Surgical Innovations was in a VAT dispute with Sars
Source: BDliveSA - 🏆 12. / 63 Read more »