China and US debt woes may dominate G7 finance chiefs' talks

📆 5/10/2023 4:59 AM
📰 ChannelNewsAsia

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TOKYO: China will be the elephant in the room at this week's meeting of Group of Seven (G7) finance leaders, who will seek to diversify supply chains away from the country - but also try to get Beijing's cooperation in solving global debt problems. The conflicting goals come on top of vulnerabilities the G

As host, Japan has drawn up a long list of other themes that will likely leave policymakers little time to enjoy Niigata's prized rice wine, many of which are linked to China.

Five more countries were invited to the outreach including Brazil, India and Indonesia - but not China - although emerging nations' debt problems will feature high on the agenda. There was uncertainty on whether the G7 can convince emerging economies to help build supply chains less reliant on China, with many of them having been hit by aggressive US rate hikes that have increased their dollar-denominated debt burden.

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China and US debt woes may dominate G7 finance chiefs' talksTOKYO : China will be the elephant in the room at this week's meeting of Group of Seven (G7) finance leaders, who will seek to diversify supply chains away from the country - but also try to get Beijing's cooperation in solving global debt problems.The conflicting goals come on top of vulnerabilities the
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