Thursday, July 25, 2024

Mint Explainer: What’s on the cards at the G7 Summit in Hiroshima?

As leaders of the world’s most powerful democracies make their way to Hiroshima for the annual G7 Summit, a range of crises, from the war in Ukraine to food security, are clamouring for their attention. The leaders of various partner nations, including Prime Minister Narendra Modi, will also attend this year’s summit. Mint breaks down what’s at stake.

  • From 19 to 21 May, the Japanese city of Hiroshima will host leaders of the International Group of Seven (G7), which includes diplomatic heavyweights like the United States, Germany, the United Kingdom and France.
  • The G7 was born in the 1970s, after the global oil crisis and other economic and political shocks convinced the leaders of major democratic countries that they needed a forum to discuss the most pressing economic and political issues of the day. The first G7 meeting was in 1975 and Russia was part of the grouping until 2014, when it was removed for annexing Crimea.
  • At the 2023 summit the war in Ukraine and the economic crisis engulfing much of the developing world will take centrestage. Food security, climate change and supply-chain security are likely to be key focus areas.
  • The summit will also include key partner nations, such as India, Australia, Indonesia, South Korea and Vietnam, and key international organisations such as the International Atomic Energy Association, the United Nations and the World Bank.
  • China has been a key focus of the G7, which has watched Beijing’s actions in the South China Sea and Hong Kong with growing concern.
  • To India, the G7’s outreach to the Global South will be of particular interest. Strengthening food and health security, delivering debt relief, and providing funding for climate change will likely be at the top of India’s agenda.
  • The G7 has faced criticism for being highly exclusive and not fully representing the global community, leading to calls for the inclusion of emerging economies in broader forums such as the G20.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

#Mint #Explainer #Whats #cards #Summit #Hiroshima

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles