G7 Summit meets in Hiroshima to discuss the future of global relations

G7 Flower Sign A man rides his bicycle past a “G7 Hiroshima” flower sign at the Peace Memorial Park in Hiroshima, ahead of the G7 Leaders’ Summit, on May 17, 2023. (Photo by Philip FONG / AFP) (Photo by PHILIP FONG/AFP via Getty Images)

Ecclesiastes 5:8 If you see the poor oppressed in a district, and justice and rights denied, do not be surprised at such things; for one official is eyed by a higher one, and over them both are others higher still

Important Takeaways:

  • The Group of 7 will meet at a crucial time for slowing global growth as a result of hawkish central banks aiming to bring down inflation.
  • Leaders will discuss international trade and security as the world grapples with an ongoing war in Ukraine and worries over U.S.-China decoupling persist.
  • Leaders of the seven major industrial democracies – Canada, France, Germany, Italy, Japan, United Kingdom, and United States – will discuss the future of global relations and the world economy as it faces a number of uncertainties: growing geopolitical tensions, central banks’ combat against rising inflation and a U.S. debt ceiling deadlock.
  • Geopolitical tensions with the U.S. overshadow China’s growth outlook as well as instigate fears over global supply chains.

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