G7 leaders are planning to issue a statement of concern about China’s use of economic leverage abroad when they gather next week, a US official familiar with the discussions said.
The statement, a likely component of the overall communique that would be released by leaders during the summit in Hiroshima, Japan, from Friday to Sunday is expected to be paired with a broader written proposal for how the seven advanced economies would work together to counter “economic coercion” from any country.
The main G7 statement is set to include “a section specific to China” with a list of concerns that include “economic coercion and other behavior that we have seen specifically from the [People’s Republic of China],” the official said.
Photo: REUTERS
A separate “economic security statement will speak more to tools” used to counter those efforts, including planning and coordination, they said.
In each case, these statements are expected to go further than prior statements by the G7 on the topic.
US President Joe Biden has made China a focus of his foreign policy, working to keep the tense and competitive relationship from veering into one of open conflict, including over Taiwan.
The G7, which also includes Canada, France, Germany, Italy and the UK, is closely tied economically to China, the world’s biggest exporter and a key market for many of their companies.
FORMER ALLY
Separately, Honduras said it would soon begin negotiating a trade deal with China, marking the latest step toward stronger bilateral ties between the two nations after Honduras broke off relations with Taiwan.
Honduran Minister of Foreign Affairs Eduardo Enrique Reina told a news conference that the goal is to launch talks soon and eventually sign a free-trade deal with China.
“It will be good news and [offer] opportunities for access to our products to China,” Reina said.
In March, Tegucigalpa severed its decades-old diplomatic ties with Taiwan, after Honduran President Xiomara Castro opted for relations with China in a bid for more investment and jobs.
Coffee would be the first Honduran export to the Chinese market, Reina said, adding that both countries are also evaluating future shipments of shrimp and melon to China.
Honduras is one of Central America’s top coffee growers.
Reina said that China has also expressed interest in buying Honduran beef and bananas, among other products.
In April, the diplomat said that Honduras also hopes to reach agreements with China to lighten the nation’s debt burden with the support of financial organizations from its new partner.
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