It used to be that summits of the G7, a club of seven rich countries, were held in major cities, where the symbols of their cultural and economic might shone brightly. The 80s and 90s saw meetings in London, Venice, Tokyo and Paris. More recently, amid popular frustration with the uneven dividends of globalisation, G7 leaders have preferred to shift their discussions to more reclusive environs. In 2012, then US president Barack Obama moved a G7 summit set to be in Chicago to his country retreat at Camp David at the last minute to avoid protesters. Sleepy towns with a country club atmosphere are now the norm. This year’s summit, to be hosted this weekend by the UK, will take place at a seaside resort in Cornwall.
While the summit’s location scouts have maintained their taste for seclusion, its participants – the leaders of Canada, France, Germany, Italy, Japan, the UK and US, as well as representatives of the EU – are keen to send a message that rejuvenates faith in their leadership on the world stage. The major talking point ahead of this year’s gathering is an expected commitment to set a global minimum tax rate for multinational corporations of 15 per cent. Janet Yellen, the US Treasury Secretary, has called it an "historic" agreement to "end the race to the bottom in corporate taxation and ensure fairness for the middle class and working people in the US around the world".
G7 leaders are keen to rejuvenate faith in their leadership of the global economy
The US is central in leading the charge not only because it is the breeding ground for so many tax-avoiding corporate behemoths, but also because its new president, Joe Biden, has a broader message to send. Weeks after his inauguration this January, he declared loudly and proudly that “America is back”. What he meant was that a vision for the world that America pioneered – one of multilateralism, rules-based order, justice and human rights – is back.
Mr Biden’s statement has since garnered him a great deal of support from many of America’s traditional allies, many of whom were shellshocked by former president Donald Trump’s more fractious style. The G7’s outcomes will be a key moment for Mr Biden to make good on the promises that brought him all of that goodwill.
Doing so will require more than a new corporate tax regime – countries are racing to hoard more than just corporate profits. As many, particularly those in the developing world, continue to suffer the effects of the Covid-19 pandemic, countries with more advanced vaccination programmes, like the US, will need to come up with an effective and deliverable way to start sharing.
This year's G7 summit is being held at a seaside resort town in Cornwall, UK. AFP
Five of the G7 countries have already committed to donating a specific amount of vaccine doses to Covax, a global vaccine distribution scheme. But even if the remaining two – Canada and the UK – make similar commitments, it will not be enough. Donating a large number of leftover doses in one go would overload already-weak healthcare systems in poorer countries, Unicef has warned. The G7 and the rest of the developed world must instead ensure a steady supply of donations and support for vaccine delivery. The first shipments cannot be dispatched early enough.
A global minimum corporate tax rate is no small achievement for this year’s G7 summit. But it is not the greatest possible outcome. Carving a clearer path out of the Covid-19 pandemic for everyone would be a truer testament to G7 leadership, and to the restoration of a more equitable, multilateralist world.
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
'Dark Waters'
Directed by: Todd Haynes
Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper
Rating: ****
Anti-semitic attacks
The annual report by the Community Security Trust, which advises the Jewish community on security , warned on Thursday that anti-Semitic incidents in Britain had reached a record high.
It found there had been 2,255 anti-Semitic incidents reported in 2021, a rise of 34 per cent from the previous year.
The report detailed the convictions of a number of people for anti-Semitic crimes, including one man who was jailed for setting up a neo-Nazi group which had encouraged “the eradication of Jewish people” and another who had posted anti-Semitic homemade videos on social media.
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Day 3, Dubai Test: At a glance
Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.
Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.
The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.
Match info:
Wolves 1
Boly (57')
Manchester City 1
Laporte (69')
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
What is tokenisation?
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Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
