G7 countries say they will lessen dependence on China

The G7 nations have declared their intentions to decrease their dependencies on China, but their leaders say they don't plan to part ways with the world's second largest economy.

The G7 nations have declared their intentions to decrease their dependencies on China, but their leaders say they don’t plan to part ways with the world’s second largest economy.

The G7 leaders meeting in Hiroshima for their annual summit released their communique on Saturday.

“Our policy approaches are not designed to harm China nor do we seek to thwart China’s economic progress and development. A growing China that plays by international rules would be of global interest,” the document says.

“At the same time, we recognize that economic resilience requires de-risking and diversifying. We will take steps, individually and collectively, to invest in our own economic vibrancy. We will reduce excessive dependencies in our critical supply chains.”

The document was released ahead of schedule to accommodate an appearance by Ukrainian President Volodymyr Zelenskyy, who arrived in Hiroshima Saturday afternoon.

The G7 leaders’ meeting comes at a time of global uncertainty magnified by geopolitical tensions with China and Russia.

The document released Saturday includes a passage on where the world’s most powerful democracies stand on China, and how they plan to counter its growing influence.

The leaders said they stand ready to build “constructive” relations with China, but they also plan to protect themselves by working together to counter economic coercion and stand against unfair practices.