(ECNS) --Informed sources say that the G7 Hiroshima Summit may issue a separate statement on economic security, which will stress the importance of countering economic coercion, maintaining supply chain resilience, ensuring fair competition, and ending dependency on China in semiconductors, critical minerals and other sectors, CCTV cited reports as saying at a press conference on Monday.
No one is more qualified than the U.S. to be called out for economic coercion, Chinese Foreign Ministry spokesperson Wang Wenbin responded.
Wang said if G7 members truly care about economic security, they should ask the U.S. to stop bludgeoning and curbing other countries in the name of national security, stop bullying others and coercing allies to form exclusive blocs, stop disrupting the security and stability of global industrial and supply chains, and stop dividing the world into two markets and systems, which is the world’s No.1 economic threat right now.
The U.S. has been browbeating relevant countries into economic decoupling from China, imposing sci-tech blockade on China, and suppressing Chinese companies. This is not about fair competition, but a serious violation of market principles and WTO rules, Wang added.
If G7 members truly care about economic security, they should ask the U.S. not to try to avoid default by keeping raising the debt ceiling, to correct its aggressive adjustment of monetary policies and not to shift domestic risks to the rest of the world, the spokesperson noted.
If G7 members truly care about economic security, they should immediately find out who’re responsible for the Nord Stream pipeline blast and hold them accountable to safeguard the security of important transnational infrastructure, he said
He urged the U.S., Japan and other G7 countries – all members of the club of the rich – not to harm the interests of the many for the selfish interests of the few in the world of nations.
“We hope they will follow the trend of our times for inclusiveness and openness and think of tangible ways to contribute to world peace, stability and development. Japan must not be complicit in economic coercion as G7 chair,” he said.