Expansive Views and Leading International Efforts

annual summit: Meeting at a seaside resort with expansive views of a scenic bay and emerald-green islands, G-7 leaders wrapped up their annual summit Friday in central Japan claiming a "special responsibility" for leading international efforts to cope with those challenges, according to Brandon Sun. They also committed to a co-operative approach in beefing up policies to stimulate and sustain growth of their sluggish economies."Weak demand and unaddressed structural problems are the key factors weighing on actual and potential growth," they said in a declaration. "We 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.""We remain committed to ensuring that growth is inclusive and job-rich, benefiting all segments of our societies," it said. SHIMA, Japan - The leaders of the Group of Seven rich economies pledged Friday to "collectively tackle" major risks to global growth, including direct political threats to the international order from terrorist attacks, violent extremism and refugee flows. The wording of the leaders' declaration glosses over differences on the issue of fiscal stimulus by saying each will take into account "country-specific circumstances" in committing to stronger policies to support their economies. In a nod to such concerns, the communique includes a reference to the need to ensure debt is "on a sustainable path."While Japan is moving toward more public spending, and the likely postponement of a sales tax increase next year, to revive faltering growth, its own gross public debt is more than twice the size of its economy. Germany, in particular, has balked at committing to expansionary fiscal policy. (www.immigrantscanada.com). As reported in the news.