China to G7: Small groups don't rule world
The G7 is supposed to lead the world; after all, it is composed of the seven richest countries, yet their policies are proving otherwise, from the proposed tax law to their summit which demonized China on a host of issues.
In todays program, we will discuss the G7 summit, slamming Chinas economic prowess, containing China to be the goal. But they also say they welcome competition. What kind of welcoming is that when they sanction and restrict Chinese companies?
Chinas not having it. They counter first by saying a small group of countries does not rule the world.
China also introduced a new anti-foreign sanctions policy. Companies will be put on a blacklist: can you guess which countries they are?
And G7 proposed tax reform: a US-proposed global corporate tax rate for the first time. But how can the US propose this when US companies are not paying their fair share of taxes?
The G7 communique was a straight attack on China, minus the military hardware. China did not deserve to be downgraded this way. Of course, China did retaliate.
The view held by the US on China was that it represents a significant challenge to the world's democracies. It was reported that leaders agreed the need for a common agenda in addressing China, including elements where they would "stand up and counter and compete."
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