PRESS RELEASE
Xinhua Ridiculed the G-7 Fantasies, Calls for the Members To Join the Real World
May 27, 2016 (EIRNS)—The Xinhua reporters on the scene of the G-7 Summit in Ise, Japan, published an hilarious analysis of the clown show it was. As the G-7 leaders gathered, they write,
"ambitions are running high for ‘guiding the world.’ However, the rich country club is embarrassingly finding its clout declining as the global political and economic landscape changes."
They quote Abe’s call for the G-7 to take
"leadership in guiding the world by showing the best path forward to achieve regional and global peace and prosperity."
Such an aspiration from the rotating presidency, good in nature, is hard to actualize as the G7 is facing increasing difficulties not only in steering the global economy but also in bridging differences among its own members."
The authors note that as recently as the turn of the century the G-7 nations represented two-thirds of the world economy, but that has now fallen to less than half. They note that Japan, at least, has "called for boosting public spending to drive global growth," but that the US and Germany oppose that, favoring austerity. They also note the dumping of Russia from the G-8 "scrapped the United States and the major European countries an important channel to seek dialogue with Russia."
With the decline of the G-7, they add,
"mechanisms including the Group of 20 are becoming more relevant and progressive platforms for world leaders to discuss ways to cope with global challenges, including financial crises and impediments to the world economic recovery." I
n fact, China is now aggressively organizing for the G-20 meeting in September, which will be held in China this year.
Xinhua then calls for the West to wake up to reality:
"The Group of Seven, on its part, should have a clear picture of the changing situation, abandon its overweening and hegemonic behavior, and jointly seek a new model of international relations featuring no confrontation, mutual respect, and inclusiveness with the developing countries. The seven of world’s most industrialized nations could indeed play a more constructive role in making the world more prosperous and balanced. The rich countries should meddle less in issues that could intensify regional tensions, but instead contribute more to humanitarian and environmental agendas for which they bear unshirkable responsibilities due to historical and realistic reasons."
They conclude ironically by quoting Time magazine: "Once upon a time the G7 countries ruled the world. Today, not so much."
