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| G7 meeting: What are developed countries worried about China's 'economic bullying' planning? |
While inviting the President of Ukraine Volodymyr Zelensky to Hiroshima on behalf of the heads of the G7 organization was a clear message for Russia, these world leaders also had an eye on another rival, that is China.
British Prime Minister Rishi Sonak said that "China is the greatest challenge of our time" to global security and development, and that China is "increasingly authoritarian on both domestic and foreign fronts."
The heads of the world's richest democracies made their position clear to China on controversial issues like Taiwan and the Indo-Pacific through not one but two statements. But the most important part of his message was the one that talked about 'economic tyranny'.
It has become a bit difficult for G-Seven to remain moderate. The economy of these countries is dependent on China due to trade, but differences on various issues including human rights are increasing and competition with China has also increased on the trade front.
These countries are worried that they have become hostages.
In recent years, China has not hesitated to impose sanctions on countries that risk angering Beijing. These include South Korea, which has installed US defense systems on its soil, while Australia has also faced sanctions following a cooling relationship with China.
The European Union was particularly concerned when China stopped exports to Lithuania in response to allowing Taiwan to open its embassy.
It is therefore not surprising that Ji Seon has condemned the 'worrying trend' of using 'economic weaknesses as weapons'.
According to G-Seven, such coercion is an attempt to humiliate G-Seven and its supporting countries on foreign and domestic affairs around the world.
In such a case, a new policy is being mentioned which is called 'de-risking' i.e. reduction of risks.
The policy, which Van der Leyen is proposing, includes tougher diplomatic talks with China, diversification of trade channels, and technology and trade securitization. It should be noted that such a policy has also come forward from the side of America.
G-Seven has also created a platform to stop China's 'economic bullying' and increase cooperation with developing countries.
There is still some ambiguity about this policy, but it is possible that Western countries would help countries that face economic difficulties or sanctions from China through trade or funding.
G-Seven also plans to strengthen the supply of key products such as minerals and semiconductors while improving digital infrastructure to prevent technology theft and hacking.
G-Seven's export controls could become a weapon. This means that they will work together to ensure that their technology (especially the military and intelligence sectors) does not fall into the hands of 'criminal elements'.
The US has already banned exports of chips and chip technology to China, joined by Japan and the Netherlands. Despite China's protests, Ji-Seon has made it clear that such efforts will continue and increase.
On the other hand, G-Seon says that the 'improper transfer' of technology through research activities will also be cracked down on. The US and other countries are concerned about industrial espionage, and several people have been jailed for stealing technology secrets from China.
But at the same time, Ji-Seon doesn't want to cut ties with China completely.
China was not mentioned in the talks on economic coercion, which appeared to be a diplomatic effort not to point the finger directly at Beijing.
Efforts were made not to offend China when it was mentioned. Ji Seon said that the purpose of his policies is 'not to harm China, nor do we want to stop China's economic development.'
However, Xi Jinping pressed China to cooperate, saying that "a developing China that adheres to international norms will be in the global interest."
He also emphasized 'open dialogue' through which concerns can be conveyed directly to China. The mention of the discussion in a bitter atmosphere was a sign from Ji Seon that he was ready to negotiate.
We do not know how Chinese leaders and diplomats view this message from Ji Seon. However, China's state media has criticized the West in the past for blaming China on the one hand and seeking to take advantage of the economic partnership on the other.
For now, China has opted for the same angry rhetoric as in the past for public response.
China had already anticipated Ji-Seon's remarks, and even before the meeting, state media accused the US of self-imposed economic oppression and duplicity.
On Saturday, Chinese media accused Ji Seon of trying to "slander" China.
He said that the G7 countries should not become "participants in the policy of economic exploitation" of the US, which tries to block the way for other countries.
It should be noted that China has also tried to create such an economic bloc together with other countries. Before the G7 meeting, China held a similar meeting with Central Asian countries.
It is not yet clear whether G-Seven's plan against China will work or not, but it is clear that the countries that have been pushing for measures against China are happy with this policy.
Andrew Small, who is associated with Germany's Marshall Fund think tank, says that 'G7's statement seems to be a consensus.'
He said that the debate is still going on as to what this policy means, to what extent the export of sensitive technology should be controlled, and what collective measures can be taken against economic bullying.
However, according to him, it has become clear how developed countries are considering restructuring their economic relations with China.