G7 finance leaders meet amidst US and China debt concerns.
The US debt ceiling standoff has overshadowed the G7 finance leaders' meeting in Japan, raising fears of a US recession and adding to global economic risks. President Joe Biden has urged Republican lawmakers to raise the limit on the government's borrowing, while Treasury Secretary Janet Yellen faces questions from her G7 counterparts on how to prevent turbulence in financial markets. The G7 finance leaders are expected to discuss ways to strengthen the global financial system, prevent Russia from circumventing sanctions, and diversify supply chains away from China.