The Group of Seven (G7) Summit concluded on Saturday, with each member country having its own strategic considerations.
The joint communique that was issued on Friday afternoon prompted intense debates and disagreements among the G7 members during the drafting process.
RUBBER CHEQUE
The G7 has agreed to finance approximately 50 billion U.S. dollars of loan for Ukraine using the interest from seized Russian assets, as stated in the communique.
Vladimir Putin, the President of Russia, denounced the measure as “theft” on Friday and declared that it would not be tolerated.
The group has been in a state of discord for an extended period regarding the formulation of such a plan. The loan deal’s specifics were still unclear, and the subsequent negotiations could last for months.
During the summit, the United States also executed a security agreement with Ukraine. However, analysts have indicated to Xinhua that the agreement may be terminated prior to its expiration. That could be crucial as Biden is expected to face a challenging election campaign later this year against Trump who does not have the same level of support for the Ukrainian cause as Biden.
REDUCED IMPACT
The summit extended an invitation to leaders from over ten additional countries, including emerging economies like India, South Africa, and Brazil.
The G7, particularly the United States, perceives itself as in decline, according to Alberto Bradanini, chairman of the Contemporary China Study Center in Italy.
“A small number of countries (G7) account for less than 10% of the global population, and their economies are stagnant, with slower growth rates than those of emerging nations.” Bradanini stated, “Their pathological claims are more apparent than ever.”
“Inviting only a few of the BRICS countries to the G7 summit was a significant error,” Vito Petrocelli, the president of the Italy BRICS Institute, stated in a written interview with Xinhua. “This action demonstrated that the West is more interested in souring relations between BRICS than in genuine collaboration.”
Petrocelli stated that the G7’s agenda is a series of impromptu measures, and that their actions consistently undermine the principles they advocate for, such as free markets.
DIVIDED ALLIANCE
The 2024 European Parliament Election occurred a few days ago, and the governing parties of Germany and France experienced a significant setback. The Social Democratic Party of German Chancellor Olaf Scholz experienced a record-low number of ballots during the election. After experiencing defeats at the hands of the far-right opposition French President Emmanuel Macron was compelled to take the risk of conducting new legislative elections.
Last month British Prime Minister Rishi Sunak declared a snap general election for July 4 as the Conservative Party confronts an uphill battle to extend its 14-year tenure in power.
In the midst of a disastrous electoral campaign, Canada’s unwanted Justin Trudeau who has been embroiled in a series of Left-Wing failures is expected to serve as the host of the G7 summit in the upcoming year. Fumio Kishida’s approval rating in Japan has plummeted to an all-time low of 16 percent.
Nevertheless, the Brothers of Italy, an arch-conservative political party led by Italian Prime Minister Giorgia Meloni, increased its share of the vote in the European parliamentary election to 29 percent last week. This development bolstered Meloni’s reputation both domestically and internationally, prompting her to assert that Italy “had the strongest government in the G7.”
Oreste Massari, a political science professor at Sapienza University in Rome, stated to Xinhua that Meloni’s ascent is a result of the general increase in the popularity of right-wing and nationalist parties throughout Europe and beyond.
Meloni prioritizes critical issues in Italy, such as migration and African affairs. Meloni advocated for the “Mattei Plan,” the official Italian initiative, during her discussions with President Biden, with the objective of reshaping Italy’s approach to the African continent.
DISPUTES REGARDING AI AND ABORTION
The group pledged to intensify its efforts to improve interoperability among AI governance approaches, including the promotion of “safe, secure, and trustworthy AI,” as stated in the communiqué.
The group emphasized the necessity of responsible military use of AI, citing the impact of AI on the military domain.
However, their approaches to accomplishing this have been different thus far. The United States favors an approach that utilizes markets, while the European countries in the G7 favor tighter regulations, as indicated by pervasive media reports.
It appears that leaders have deferred the implementation of a definitive policy on the subject until their subsequent summit in Canada next year.
France and Canada adopted a progressive position on abortion, while Italy’s right-wing Meloni sought a more conservative approach. This issue emerged as one of the most contentious among the member states.
Although the G7 summit in Japan last year did include a commitment to assuring safe and legal access to abortion, it is important to note that the term “abortion” was not mentioned in the final communique of this year.
Shayne Heffernan
