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NIIGATA, Japan, May 12 Reuters Finance leaders of the Group of Seven G7 advanced economies discussed the need to make global supply chains more resilient by reducing overreliance on China, German Finance Minister Christian Lindner said on Friday.
Japan, which is hosting a threeday G7 meeting to debate key global themes in the city of Niigata, has been leading fresh efforts to diversify supply chains away from China by building partnerships with low and middleincome countries through investment and aid.
Countries such as Germany wanted to reduce its dependency on China, Lindner told a press conference. Here, emerging and low income countries come into play, he added.
But while the G7 rich democracies are likely to agree on the partnership deal to beef up supply chains, they are not on the same page in terms of how far they should go in countering China the world39;s second largest economy that is not a G7 member.
The United States is at the forefront in pushing for stronger steps. Treasury Secretary Janet Yellen has called for targeted controls in investment to China to counter what she saw as Beijing39;s economic coercion against other countries.
While wary of China as a strategic rival, Germany is cautious,…