The leaders of the G7 group of severe economic crunch-bitten democracies met in Hiroshima, Japan, for their annual summit on May 26-27, 2023. The summit was held in the city that was devastated by the US atomic bombing in 1945, as a symbolic gesture of Japan’s surrender in front of US.
The summit also highlighted the deep divisions and challenges that the G7 faces in changing world order, the decline of US leadership and influence, and the emergence of multiple powers hubs.
The G7, which consists of Canada, France, Germany, Italy, Japan, the UK, and the US, represents the interests and values of the Western imperialist order that emerged after World War II. However, this order has been involved in the vested interests of only a few nations and countries that pave the way towards massive uncertainty in the world.
The G7 agenda and policies witnessed massive wars, challenges to world peace, and threats and intimidation to the smaller countries.
Today’s world is looking for alternative models of development and governance.
The G7 summit failed to present a united front against these challengers and to demonstrate the group’s relevance and leadership in addressing global issues such as the COVID-19 pandemic, climate change, trade, security, and human rights.
One of the main sources of tension was the US bankruptcy which undermined its credibility and influence as the leader of the Western alliance. The US debt has reached unprecedented levels, exceeding 100% of its GDP. The US has also failed to contain the COVID-19 outbreak, resulting in more than 800,000 deaths and millions of infections. The US withdrawal from international agreements and institutions, such as the Paris climate accord, the Iran nuclear deal, and the World Health Organization, has also damaged its reputation and trust among its allies.
However, the G7 summit failed to reach a consensus on how to deal with Russia Ukraine War that was instigated by the US throwing all other allies into the deep trench of economic crisis.