G7 summit winds up, leaders pledge to “collectively tackle” threats

untitled{BNN / TOKYO, Japan} – As the Group of Seven Summit came to a close in central Japan, world leaders reportedly stepped up to “collectively tackle” threats to international order, extremism and refugee influx.

According to reports, the leaders also committed themselves to collaborations in improving policies to bolster slow-paced economies.

In a declaration issued by the seven, they reportedly announced that they have “strengthened the resilience of our economies in order to avoid falling into another crisis and to this end commit to reinforce our efforts to address the current economic by taking all appropriate policy responses in a timely manner.”

Additionally, they also reportedly pledged to tackle the global oversupply of steel, but did not mention China’s role in inundating markets of many countries with cheap steel.

Further, Japan’s Shinzo Abe reportedly is getting closer to an announcement of a delay in increasing sales taxes, driven by his belief that the global economy is facing a huge risk of another economic dilemma.

He reportedly added that decision of whether to proceed with the sale tax hike from 8 percent to 10 percent will be announced before the upper house election in the summer.

Reports added that the leaders campaigned against Britain’s exit from the EU, in a show of support to Britain’s David Cameron, saying that the Brexit would “reverse the trend towards greater global trade and investment, and the jobs they create, and is a further serious risk to growth.”

Meanwhile, U.S. President Barack Obama has reportedly lifted the Washington Arms embargo on Vietnam, delivering a further blow to the outlook on China over the disputed South China Sea.

Reports state that although Obama assured that the move was not targeted at China, experts opine that it will equip Vietnam with machinery to better survey China’s movements, and will allow U.S. manufacturers to compete with Russia for massive weapons sales to Vietnam.

Additionally, Chinese military is reportedly ready to launch submarines equipped with nuclear missiles into the Pacific Ocean for the first time, insisting that the move is “inevitable.

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About Cholo Brooks 18364 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.