RESULTS OF GERMANY’S CHAIRMANSHIP IN G7: ECONOMIC ASPECT

Abstract

A new coalition government in Germany came into power at the end of 2021. The paper describes Germany’s 2022 G7 Presidency as a first major foreign policy priority and test. The article considers that this period gave the German government the opportunity to test diverse political initiatives. These include proposals in the economic and climate sphere, in the regulation of the labor market, the prospects for the global agro-industrial complex, and overcoming the consequences of the pandemic. The creation of the Climate Club has become the most ambitious project. In this regard the G7 will unify their environmental standards within the club. It will stimulate the entry into the club of countries that are also taking action to combat climate change. Additionally, we examine the of sectoral communiqués. Analysis showed that Olaf Scholz’s government did not propose any truly breakthrough initiatives. Many key ideas were duplicated from the Elmau summit in 2015. In each sectoral area, financial and military support for the Ukrainian regime was noted in the documents. In the author’s opinion, the strategic move of the German Presidency was to invite the leaders of India and South Africa to a key meeting, as well as to coordinate with the Indonesian G20 Presidency. The author comes to the conclusion that the results of the German presidency are twofold. On the one hand, despite the Ukrainian conflict, attempts have been made to develop the climate agenda. It is emphasized that main issue was the modernization of the WTO. Was put on the other hand, these topics constantly disappeared due to the topics of support for Ukraine. Most likely, the G7 once again demonstrated the soft nature of the organizational structure. The author concludes that main decisions to put pressure on Russia remained in the shadow of the sanctions packages of the European Union.