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Significance

The members’ statement formally brought together individual country strategies that had already been hardened by recent experiences with China. Yet the G7’s approach is more conciliatory and less unified than Washington wanted. Leaders explicitly eschewed ‘decoupling’ in favour of 'de-risking', and France's president has publicly broken ranks twice in recent weeks, underscoring the diversity of views.

Impacts

Cooperation with foreign counterparts on China policy will become the norm for G7 diplomats, in an attempt to maintain a united front.

China's economic strength and technological advancements necessitate its inclusion in global dialogues and a greater role in global affairs.

Emerging economies may benefit from a reinvigorated commitment to development from the G7, alongside ongoing major Chinese investment.

Tech and infrastructure investors will need to be particularly nimble as geopolitics buffet their sectors and supply chains.

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