🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Japan's Abe to take G7 leaders to shrine as economy tops summit agenda

Published 2016-05-25, 08:33 p/m
Japan's Abe to take G7 leaders to shrine as economy tops summit agenda

By Matt Spetalnick
ISE-SHIMA, May 26 (Reuters) - Japanese Prime Minster Shinzo
Abe was set to escort Group of Seven (G7) leaders to the Shinto
religion's holiest site on Thursday ahead of a summit that will
cover topics from risks to the global economy to China's
maritime assertiveness.
Abe was to take U.S. President Barack Obama and other G7
partners to the expansive grounds of Ise Grand Shrine in central
Japan, dedicated to sun goddess Amaterasu Omikami, mythical
ancestress of the emperor.
Abe has said he hopes the shrine visit will provide an
insight to the heart of Japanese culture. Critics say he's
catering to a conservative base that wants to put religion back
in politics and revive traditional values.
On Wednesday night, Abe met Obama for talks dominated by the
arrest of a U.S. military base worker in connection with the
killing of a young woman on Japan's southern Okinawa island,
reluctant host to the bulk of the U.S. military in Japan.

The incident has marred Obama's hopes of keeping his Japan
trip strictly focused on his visit on Friday to Hiroshima, site
of the world's first atomic bombing, to highlight reconciliation
between the two former World War Two foes and his nuclear
anti-proliferation agenda.
"...our visit to Hiroshima will honor all those who were
lost in World War Two and reaffirm our shared vision of a world
without nuclear weapons, as well as highlight the extraordinary
alliance that we have been able to forge over these many
decades," Obama, the first sitting U.S. president to visit the
city, told a news conference with Abe late on Wednesday.
Abe, in his remarks, seemed to stress Japan's status as
victim, the first and only country to be targeted with nuclear
weapons, and made no mention of Tokyo's own wartime atrocities.

GLOBAL HEALTH CHECK
Concerns about the health of the global economy will top the
agenda at the G7 summit, although full agreement on
macro-economic policy looks hard to come by.
The G7 leaders are expected to promote monetary, fiscal and
structural policies to spur growth in their communique when the
summit ends on Friday, government sources told Reuters.
With Britain and Germany resisting calls for fiscal
stimulus, Abe will urge the G7 leaders to adopt a flexible
fiscal policy, taking into account each country's own situation.
The G7 leaders are also expected to reaffirm their previous
commitment to stability in the foreign exchange market
Summit topics also include terrorism, refugees, trade, cyber
security and maritime security, including China's assertiveness
in the East and South China Seas, where Beijing has territorial
disputes with Japan and several Southeast Asian nations.
British Prime Minister David Cameron on Wednesday encouraged
Beijing and others to abide by a looming ruling by an
international tribunal on a South China Sea territorial row
between China and the Philippines.
The G7 groups Britain, Canada, France, Germany, Italy, Japan
and the United States.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.