G7 Meeting: Awkward truce - ANZ

Analysts at ANZ explain that some would argue the G7 is a far less relevant institution these days, but it didn’t stop the meeting of its respective country leaders in Italy over the weekend generating plenty of headlines.

Key Quotes

“And with this being the first G7 meeting for four of the seven leaders, more than anything the focus was on whether they would see eye-to-eye on various issues. A joint statement was released, but reports are that it took plenty of work to get to that point, with reported disputes on trade and climate change especially.”

“On trade, there was a commitment to “keep our markets open and to fight protectionism”, but it was added that “trade has not always worked to the benefit of everyone. For that reason, we commit to adopting appropriate policies so that all firms and citizens can make the most of opportunities offered by the global economy.” In many ways, that sounds fair, it’s just that right now, we don’t really know what those “policies” will be.”