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The G7 summit is about to enter its final day, with the main topics being China and AI.

TraderKnows
TraderKnows
06-14

The G7 Summit is about to enter its final day, during which, as per tradition, national leaders will participate in discussions. The topics for the last day are China and AI.

On the final day of the annual G7 summit, leaders are holding talks with a primary focus on China. After these discussions, Pope Francis will attend a historic meeting to discuss artificial intelligence (AI).

The Pope will be joined by ten other heads of state and government, including the Prime Minister of India and the King of Jordan. The G7 has invited external participants to show that it is not an isolated, exclusive club.

On the first day of the conference in southern Italy, the G7 agreed to provide a $50 billion loan to Ukraine, funded by interest on frozen Russian assets. This agreement has been hailed as a strong signal of Western resolve.

Although many details still need to be finalized, the G7 member countries—the United States, Canada, Japan, Germany, France, Italy, and the United Kingdom—along with the European Union, are expected to contribute jointly, with the funds reaching Kyiv by the end of the year.

"Today we have taken a very historic step," said German Chancellor Olaf Scholz.

"This also sends a clear signal to Russian President Vladimir Putin that he cannot expect the nations supporting Ukraine to abandon the war due to financial issues," he added.

While the Ukraine issue dominated the first day's talks, the key topic on Friday morning will be China.

Leaders are expected to express concern about China's excess capacity and its support for Russia.

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