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G7 demands COVID origins investigation, urges China to respect rights in Xinjiang

Following the conclusion of the meeting of the Group of Seven leaders (G7) over the weekend, the heads issued a highly critical final communique, stressing on China, in light of Beijing’s human rights issues, covid origins and a bunch of other relevant issues.

Key takeaways

“We will promote our values, including by calling on China to respect human rights and fundamental freedoms, especially in relation to Xinjiang and those rights, freedoms and a high degree of autonomy for Hong Kong enshrined in the Sino-British Joint Declaration.”

Called for a transparent, expert-led Phase 2 COVID-19 Origins study including in China, to be convened by the World Health Organization (WHO).”

underscored “the importance of peace and stability across the Taiwan Strait, and encourage the peaceful resolution of cross-Strait issues.”

“We remain seriously concerned about the situation in the East and South China Seas and strongly oppose any unilateral attempts to change the status quo and increase tensions.”

“G7 calls for preservation of Hong Kong freedoms.”

Market implications

The market mood appears mixed amid holiday-thinned light trading, as investors digest the G7 outcome and US stimulus updates while a tad nervous ahead of the FOMC meeting this Wednesday.

The S&P 500 futures are up 0.12% near 4,240 while the US dollar holds the higher ground above 90.50 against its main peers.

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