G7 summit opens amid protests

The three-day 2024 Group of Seven (G7) summit kicked off Thursday in Borgo Egnazia, a faux medieval town constructed as a luxury resort on the heel of Italy's boot.

Though the summit venues have been located far from population centers since police clashed with protesters at the 2001 G8 summit in the northern port city of Genoa, protests against the G7 summit still take place near the venue.

On the opening day, in Brindisi, a city 60 kilometers away from the venue, protesters held Palestinian flags and displayed banners with slogans such as "Boycott the G7," "Stop Destroying the Planet" and "No More War." They criticized the G7 for failing to play a positive role in environmental protection, social justice and maintaining peace.

Lukas Hufert, an art student from Germany, traveled to participate in the protest. He told Xinhua that the G7's handling of international affairs is "full of hypocrisy," likening it to a Trojan horse that appears grand but is filled with selfish schemes inside, "offering no help to the world's vulnerable groups."

Addressing Ukraine crisis

The Ukraine crisis, Gaza conflicts and the relations with the Global South top the agenda of the summit. The management of artificial intelligence (AI), issues facing Africa and climate change are also included in the key sessions.

Italy is holding the G7 rotating presidency this year. In addition to the G7 leaders, heads of state from over 10 other countries and international organizations were invited to attend the conference, including Ukrainian President Volodymyr Zelenskyy, who attended the meeting for a second successive year.

He signed a new, long-term security accord with U.S. President Joe Biden after signing a 10-year security accord with Japan, with Tokyo promising to provide Kyiv with $4.5 billion this year.

In addition to that, during the first day of their meeting, the G7 nations agreed on a deal to provide $50 billion of loans for Ukraine backed by interest from frozen Russian assets. They hailed the accord as a powerful signal of Western resolve.

Although many technical details still need to be worked out, G7 members, the U.S., Canada, Japan, Germany, France, Italy and Britain, and the European Union (EU) are expected to contribute to the loan, with cash to reach Kyiv by the end of the year.

Russia regards attempts by the West to take income from its frozen assets as criminal, foreign ministry spokeswoman Maria Zakharova said on Thursday, adding that the G7's plans will not benefit the West and may result in a new economic crisis.

Multiple challenges

Many of the G7 leaders are struggling at home but look to project confidence on the world stage as they confront an array of problems, including lagging economic performance, the surging of AI and turmoil in the Middle East.

The leaders expressed their concerns about the situation in Gaza, calling on Israel to refrain from a full-scale offensive in the southern Gaza city of Rafah, "in line with their obligations under international law."

They're also expected to address China's industrial capacity. On Tuesday, the EU announced it would impose extra duties of up to 38.1 percent on imported Chinese electric vehicles (EV) from July. China has expressed strong opposition to the plan, saying that the EU is politicizing economic and trade issues and that it will take measures to safeguard its interests.

A spokesperson of the Chinese Commerce Ministry said on Thursday that the EU's move damages the legitimate rights and interests of China's EV industry, disrupts China-Europe cooperation in NEVs, and distorts the global automobile industry chain and supply chain. It urged the EU to properly handle economic and trade frictions and have healthy competition with China.

The G7 may have a very different complexion next year.

Biden faces an uphill battle to win re-election in November, British Prime Minister Rishi Sunak is reported to lose power in a national election next month, while French President Emmanuel Macron dissolved his country's parliament on Sunday after his party was trounced in the European vote.

(With input from agencies)