Biden Heads to Japan for the G7
NY Times
23-05-17 21:51
Leaders from the Group of 7 (G7) countries are to meet and discuss the global economy this week at the annual G7 summit in Japan. However, the US’ nearing debt default of two weeks may be cause for concern. President Joe Biden hopes to promote an optimistic tone after the White House sent two special aids to negotiate with Republicans to raise the debt. Upcoming discussions are also set to focus on Ukraine and China. European allies are pressing the US administration to give American-made F-16 jets to Ukraine after gaining territory around the city of Bakhmut. Nevertheless, the Biden administration is worried about escalating the situation and the potential costs and time issues that would arise. Discussions on China will focus on handling the threat of its economic, technological and military rise. The summit will also include talks on how to stabilise the global economy and limit devaluations of currencies.