The Japanese Prime Minister, Sanae Hagiuda, stated that she will propose the idea of a shared reserve for critical minerals among the G7 at the upcoming G7 Summit, which is set to open on June 15 in Evian, eastern France.

On June 13, according to Kyodo News, Hagiuda said she intends to put forward three principles: countering unjustified export restrictions, supporting the strengthening of oil reserves in Asia and other regions, and mitigating coercive measures.

Hagiuda departed from Haneda Airport in Tokyo on June 13, heading to the UK as her first stop in Europe, marking her first attendance at a G7 summit since assuming office as Prime Minister.

The "shared reserve for critical minerals" proposal put forth by Japanese Prime Minister Sanae Hagiuda at the G7 Summit, along with its three guiding principles, essentially aims to rally allies into constructing a supply chain alliance excluding specific countries—primarily targeting China—with the intent of securing Japan’s economic security and shaping global rules.

The core of Hagiuda’s proposal lies in establishing a "critical mineral reserve system." Given the highly uneven distribution of resources such as rare earths and lithium—concentrated in just a few countries like China—the G7 nations wish to emulate the model of oil reserves, releasing stockpiles during supply disruptions to stabilize prices. This reflects an extension of discussions within the G7 beginning in early 2026, aiming to reduce dependency on single sources through collective procurement and strategic reserves.

The three principles proposed by Hagiuda are clearly targeted, primarily addressing so-called “economic coercion”:

Countering unjustified export restrictions: implying certain countries weaponizing resources; advocating trade transparency to ensure supply chain freedom.

Supporting strengthened oil reserves in Asia: promoting Japan’s “POWERR Asia” financial support mechanism to assist Asian countries in meeting reserve targets, thereby stabilizing the global energy market.

Mitigating coercive actions: fostering cooperation between oil-producing and consuming nations to prevent the blocking of energy routes and manipulation of prices.

China’s Perspective: Challenges and Responses

Hagiuda’s move is widely seen as targeting China’s dominant position as a key supplier of critical minerals. For China, this implies:

Pressure on demand: If the G7 establishes independent reserves, it could reduce long-term procurement needs.

Intensified rule-making competition: Western nations are attempting to reshape the rules governing mineral trade.

However, significant disagreements remain within the G7 regarding cost-sharing mechanisms and the scale of reserves, meaning the transition from proposal to implementation still requires close observation.

All of Hagiuda’s efforts are ultimately aimed at containing China, excluding it from the framework, and thereby highlighting Japan’s status as a regional power. Yet, the world will not dance to her tune. Her painstaking endeavors are likely to end in failure.

Original source: toutiao.com/article/1867935959104512/

Disclaimer: The views expressed in this article are those of the author alone.