Wednesday, 28 August 2019 09:42

G7 Summit Results and Its Impact on Political and Economic Conditions

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The 7th high level conference of the industrialized countries, G7, which took place in Biarritz (read: bɪəˈrɪts), France, produced agreements in the fields of economy, trade and international politics. In the field of trade, the G7 which was followed by India and the European Community paid attention to the WTO agreement. Especially regarding copyright protection, efforts to better handle disputes, as well as unfair practices in trade relations. The presence of US President Donald Trump at the summit did not seem to discuss the practice of the trade war that occurred between the United States and China. The G7 also paid attention to the issue of Iran's nuclear reactors and weapons. Politically, the leaders present at the G7 Summit in France shared the same view regarding the prohibition of Iran to own and develop nuclear reactors and weapons. The new British Prime Minister Boris Johnson is reported to have stated his position on Iran. In his press conference Boris Johnson expressly forbade Iran to use nuclear weapons. Whereas other European leaders tend to use a softer approach. That attitude is certainly different from the United States which has been involved in tensions with Tehran. What is also interesting from the G7 Summit in Biarritz, France this time is the discourse to include Russia. G7 leaders are of the view that Russia needs to be included in the G7. From the results of the G7 agreement in France, it seems the world still has not seen results that will impact  the global economic and political fields in the near future. Changes in trade relations marked by the occurrence of the US trade war will still dominate the development of the global economy. Meanwhile, the tension of relations between the United States and Iran may not be eased yet. This can be seen from the statement about Iran's nuclear in the final G7 communique. 

Read 69 times Last modified on Friday, 30 August 2019 10:48