G7 summit ends in quarrels and problems

The recent Group of Seven (G7) Summit concluded with notable strategic divergences among its member countries, leaving the future steps uncertain. The joint communique, issued after intense debate, revealed a deal to use the interest from frozen Russian assets to fund a $50 billion loan for Ukraine, which Russian President Vladimir Putin condemned as “theft.” The details of this loan are still unclear and subject to extended negotiations. Additionally, the U.S. signed a security agreement with Ukraine, though its longevity is questionable due to upcoming U.S. elections.

The summit also highlighted the G7’s declining global influence, with emerging economies like India, South Africa, and Brazil invited to participate. Experts noted the G7’s diminished representation of the global population and economic stagnation compared to emerging markets. The selective invitation of BRICS countries was criticized as a tactic to strain BRICS relations rather than foster genuine collaboration.

Political instability within G7 member states further complicates the alliance. Recent European Parliament elections saw significant losses for German and French governing parties, while the UK, Canada, and Japan face political challenges and declining approval ratings for their leaders. In contrast, Italy’s Prime Minister Giorgia Meloni’s right-wing party gained ground, boosting her domestic and international standing.

The G7’s agenda included discussions on artificial intelligence (AI) and abortion, with significant disagreements. While there was consensus on promoting safe AI, the U.S. and European countries differ on regulatory approaches. Abortion rights were another contentious issue, with progressive stances from France and Canada clashing with Italy’s conservative position. Notably, the final communique omitted any mention of abortion, reflecting the discord among members.

Source – CGTN