Japan hosts this year's Group of Seven (G7) summit.

(Reuters)

[Financial Channel/Comprehensive Report] Japan is the host of this year's Group of Seven (G7) summit, and invited emerging economies such as India, Indonesia and Brazil, as well as Asian countries such as South Korea and Singapore, to join in Niigata on Thursday (11th) The G-7 meeting held to counter China's expanding power, a meeting of non-G7 officials is scheduled for Friday.

While it is not common for non-member countries to participate in the G7 leaders summit, this is the first time since 2009 that the meeting of heads of emerging countries has been expanded.

The history of the G7 can be traced back to 1975, and its members include the United States, Britain, Germany, France, Italy, Canada and Japan.

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The U.S.-led bloc's plan to boost supply chain resilience to counterbalance China comes amid heightened economic tensions between Washington and Beijing.

And Beijing recently hosted leaders from Brazil and Southeast Asia, courting countries in the southern hemisphere and helping to broker a peace deal between Saudi Arabia and Iran.

For Japan, the three guests of particular interest are South Korea, India and Indonesia.

Japanese Prime Minister Fumio Kishida concluded a landmark visit to Seoul this week, promising to seek cooperation on high-tech products.

Japan is also deepening ties with this year's G20 chair India and Indonesia, both major recipients of Japanese foreign direct investment.

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