Group of Seven leaders on Saturday agreed to a new initiative to counter economic coercion, and pledged action to ensure that any actors attempting to weaponize economic dependence would fail and face consequences.
The initiative, dubbed Coordination Platform on Economic Coercion, will use early warning and rapid information sharing on economic coercion with members meeting regularly for consultations, the leaders said in a statement.
The statement did not identify China, but in details released on Friday that outlined the proposed initiative, the British government pointed to attempts by China to use its economic power in political disputes with Australia and Lithuania.
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