WASHINGTON (Kyodo) The Group of Seven financial leaders displayed their confidence in the health of the global economy during their one-day meeting Friday in Washington, declaring the world economy is experiencing "its strongest expansion in more than 30 years" while saying little about the weakness of the yen.
The wording on the global economy in the G7 leaders' statement is stronger than that adopted in their previous gathering in Essen, Germany, in February. However, they warned against complacency, saying "risks remain," and indirectly urged investors not to make biased bets.
The financial chiefs from Britain, Canada, France, Germany, Italy, Japan and the United States sounded buoyant on the global economy as they were mostly of the view that the worldwide stock plunges from late February to early March represented a "good and healthy correction," Japanese officials said.