Recently, G7 summit took place in Japan, Hiroshima. And G7 summit, 2023 biggest takeaways from it was “de-risking”.
In which leaders of the world’s wealthiest democracies agreed that they need to de-risk and not decouple from China, which dominates global supply chains.
“We are not decoupling or turning inwards. At the same time, we recognize that economic resilience requires de-risking and diversifying,” the G7 said in a joint statement.
“We will seek to address the challenges posed by China’s non-market policies and practices, which distort the global economy. We will counter malign practices, such as illegitimate technology transfer or data disclosure,” the statement added.
